Payments Source

DECEMBER 5, 2018

Fifteen major banks will test Swift's pre-validation service for Global Payments Innovation transactions, focusing on quickly identifying and eliminating errors or omissions in payment messages.

SWIFT

PYMNTS

MARCH 11, 2020

There’s a battle brewing in payments. It’s the Feds versus the Free Marketeers, and the feud between them is over whose real-time payments (RTP) rails will rule them all. Real-time payment rails can gain ubiquity once third-party developers start leveraging them for new apps and other services,” Ledford told PYMNTS.

Faster Payments

PYMNTS

MARCH 28, 2019

TCH announced the news on Thursday (March 28), and said the four new representatives will meet with the RTP Business Committee monthly to help guide the committee and make sure it follows prudent risk management practices, as well as to establish rules. The RTP network was built for financial institutions of all sizes throughout the U.S.

TCH

The Fintech Times

FEBRUARY 21, 2024

Key local initiatives shaping LEI adoption include updated over-the-counter (OTC) derivative transaction reporting rules from the Australian Securities & Investments Commission (ASIC). Strong market traction stems from the support of key stakeholders advocating for the inclusion of the LEI within ISO 20022 payment messages.

ISO 20022

PYMNTS

JANUARY 23, 2020

The committee meets every month to do things like create network rules and weigh in on strategies. All deposit institutions on the RTP network are required to accept payments up to $100,000. However, individual participants may set a lower value limit for payments they originate. More than half of U.S.

TCH

PYMNTS

JULY 18, 2017

The payments messaging company said Monday (July 17) that its KYC Registry is now open to all supervised financial institutions around the globe. Office of the Comptroller of the Currency aimed to clarify KYC rules for banks in an effort to encourage cross-border activity. This year, the U.S.

SWIFT

The Payments Association

MAY 16, 2025

Medium-term priorities (2025) Cross-border interchange fee review (Final rules expected late 2025) The Payment Systems Regulator (PSR) is expected to publish its final ruling on cross-border interchange fees by the end of 2025. New rules could mandate pricing changes or new disclosure requirements under consumer law.

Regulations

The Fintech Times

MARCH 27, 2024

Mike Walters , CEO of Form3 Mike Walters , CEO of Form3, commented: “The best way to tackle the rise of APP fraud is the use of collaborative intelligence and cutting-edge technologies that allow the real-time identification of scams within the payment message.

Fraud Prevention

PYMNTS

FEBRUARY 6, 2020

The Australian Competition and Consumer Commission (ACCC) has now formally released the Consumer Data Right (CDR) rules that will set the stage for Open Banking in the country, which will take effect on July 1 of this year. Automating the flow of payment-related data will support back-office process efficiencies, and address fraud concerns.

Payments Data

Fintech Finance

MARCH 26, 2024

Mike Walters, Form3’s CEO, said: “The best way to tackle the rise of APP fraud is the use of collaborative intelligence and cutting edge technologies that allow the real-time identification of scams within the payment message.

Financial Crimes

PYMNTS

FEBRUARY 13, 2019

Payments messaging firm SWIFT announced on Tuesday (Feb. Increasing sophistication of money launderers and other financial criminals has led regulators to introduce even more stringent KYC and AML rules, too. International Monetary Fund (IMF) estimations pointed to a total money laundering volume of $2.1

Money Laundering

PYMNTS

JANUARY 26, 2017

Real-time payments and reconciliation, the company added, could be a major boost to corporate cash management efforts, too. Further, blockchain, Finlync said, negates the need for participants to align with what the company described as “complex” payments messaging standards like ISO.

Blockchain

Seon

JULY 27, 2023

The bank of the soon-to-be-paid employee sends back a request for payment (RFP) via the FedNow Service for the payer to confirm the transaction on their app. The payer approves, then their credit union screens the payment and sends a payment message through the FedLine network.

FedNow

PYMNTS

MAY 31, 2018

It’s almost as if these various players are all speaking different languages, according to George Throckmorton, managing director of NACHA , The Electronic Payments Association, who equated the payments industry to a digital Tower of Babel.

ISO 20022

PYMNTS

JULY 28, 2016

to leverage ISO 20022 payment message standards for the payment itself and for remittance, without forcing everyone to make changes to the ACH formats and continue with existing NACHA Operating Rules ,” Estep said.

ISO 20022

PYMNTS

JULY 11, 2016

Commerce through messaging apps may offer a solution, as it meets consumers within an app or service that they are more likely to use on a frequent basis. “We have to be aware that it’s still early days and the rules aren’t completely defined yet,” he noted. “I

Payment APIs and Integration

PYMNTS

MAY 28, 2016

It is a book at the hubris of those who think they are just a little too smart to follow the same rules everyone else does. Other than the fact that it is a good read, anyone who has taken note of some of the more recent high-profile cyber breaches lately (particularly across the SWIFT messaging system) will note something similar.

Bitcoin

Fintech Labs Insights

OCTOBER 16, 2016

As of September 30, a new rule from NACHA requires all banks to process incoming same-day ACH credits. Most ACH payments are currently settled on the next business day: the new rule-change offers originators the option to send an ACH transaction to any recipient account for same-day processing. Ready, set, ACH.

EMV

PYMNTS

SEPTEMBER 22, 2020

In today’s top payments news around the world, JD.com is working with China’s central bank to advance cryptocurrency, while U.S. WeChat users are reportedly racing to get the Chinese mobile payment, messaging and social media program. Plus, digital payment provider Ant Group is looking for a record return as it goes public.

Central Bank

The Payments Association

APRIL 14, 2025

The payments landscape is entering a defining phase of regulatory transformation. Across the UK, EU, and international markets, new rules are recasting expectations around security, transparency, and accountabilityimpacting not only compliance obligations but how firms design services, manage risk, and deliver value to customers.

Regulations