The looming specter of Brexit, and the trade war between the U.S. and China, are sending ripple effects well beyond these countries’ borders, impacting many other areas of the global economy. While these political developments insert new uncertainties and frictions into international trade, financial institutions...
SWIFT announced Tuesday (May 21) that a group of banks are trialing instant gpi cross-border payments in Europe via the TARGET Instant Payments Settlement platform. In a press release, SWIFT said it has teamed with the European Central Bank to extend cross-border payments further into...
NACHA and its Payments Innovation Alliance announced that it is working with the U.S. Faster Payments Council (FPC) to expand the Faster Payments Playbook. The Playbook is an educational and online decisioning platform that will enable banks, credit unions and businesses to develop a faster payments strategy. Its...
Faster, faster, faster — that’s the motto driving so much of payments innovation today. Real-time payments offers promise for both small and medium-sized businesses (SMBs) and consumers. That holds especially true for the Asia-Pacific region, as InstaReM CEO and Co-Founder Prajit Nanu discussed with Karen Webster in...
SWIFT is expanding its network-wide payments validation toolkit, announcing Thursday (May 2) a new “in-flight” cloud-based payment investigation and resolution service. In a press release, SWIFT said the new feature allows for dynamic query handling between banks on the SWIFT network. With the tool, banks...
Many countries around the world are rolling out instant payments schemes that bring speed and convenience to payments made within their own borders. Unfortunately, those benefits are often limited when it comes to cross-border payments. A London-based manufacturer can’t rely on the U.K.’s Faster Payments Service (FPS) to quickly shuttle funds...
Recent studies show that financially stressed employees are more distracted and less effective at work. That’s why companies like Uber and Lyft are tackling the issue by providing early access to earned wages. Other industries want to follow suit, but they must do so without...
While the Federal Reserve deliberates on whether it will create its own real-time payment (RTP) system, The Clearing House (TCH) is working to head off the competition by making a stronger case for its RTP being the best path to real-time payment ubiquity in the...
JPMorgan announced this week it’s launching SEPA Instant in Europe as part of its efforts to advance its real-time payments offerings. In an announcement, the bank said the launch of SEPA Instant in Europe rounds out its real-time payment capabilities in USD, GBP, and EUR,...
