The Federal Reserve continues to make headway in driving payment rail innovation via the upcoming FedNow Service, as well as increasing interest in blockchain and digital assets. Plus, you can find enhancements to Same Day ACH, a new RTP solution for corporates and more in...
Central banks continue to consider the potential for blockchain as a payment rail. Most recently, Japan Finance Minister Taro Aso spoke during a press conference, suggesting that other members of the Group of Seven (G7) may benefit from holding discussions on central bank digital currencies...
Innovation is all about thinking outside the box – sometimes. In this week’s look at Payment Rail Innovation, PYMNTS finds a variety of ways industry participants are wielding and mixing various payment infrastructures to achieve desired results. For some, that means thinking within the box...
Whether building solutions on existing rails like ACH, or developing new infrastructure to bypass legacy tools, payment rail innovators are placing a new emphasis on data. This week’s exploration of Payment Rail Innovation finds industry players including Nacha and Boost Payment Solutions emphasizing B2B payment...
November 27, 2019
Faster and real-time payments still have a long journey ahead toward ubiquity, particularly in the realm of corporate cross-border payments. Interoperability between various markets’ networks, as well as standardization of payments messages to benchmarks like ISO 20022, are key to adoption, said HSBC’s Global Head of Payment Products Tom Halpin. But just as importantly, he added, there must be a community of end users to adopt a faster payments technology. The clients’ needs – not the availability of technology – is what will ultimately steer faster payments’ ubiquity journeys, he told PYMNTS.
September 12, 2023
Corpay‘s Cross-Border business has launched a proprietary tracking technology that enables real-time monitoring of payments. This new solution, Payments GPS, utilizes SWIFT GPI (Global Payments Innovation) and other technologies to provide a comprehensive infrastructure for tracking payments, the company said in a Tuesday (Sept. 12) press release. The demand for transparency in cross-border payments has been increasing, and […]
May 02, 2019
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...
March 21, 2019
SWIFT announced Thursday (March 21) that six Spanish banks, representing 85 percent of the cross-border payments market in Spain, have adopted SWIFT global payments innovation or gpi. In a press...
December 18, 2018
SWIFT said Tuesday (December 18) that its SWIFT gpi payment service is being used for more than half of SWIFT’s cross-border traffic. In a press release, SWIFT said that 55 percent...
