Payments News

On The Web

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Systems

Mastercard Eases Access to Faster Payments With PayPort+

“Mastercard has launched a cloud-native, real-time payment gateway designed to ease access for institutions connecting to the UK’s Faster Payments network. The PayPort+ gateway has been developed by Form3 and is now live with two UK financial institutions, including Nationwide Building Society.PayPort was launched in 2016 to offer financial institutions, large and small, connectivity into […]
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Systems

The Next Step for Faster Payments: Interoperability

“Since the first discussions about faster payments unfolded in the U.S. more than seven years ago, a nagging question has been whether a system — or systems — could operate together under similar technology, security, operating rules and standards. The U.S. Faster Payments Council says the interoperability question has become the most important topic within […]
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Systems

US Faster Payments Council Publishes Interoperability Report

“The U.S. Faster Payments Council (FPC), in partnership with Glenbrook Partners, today released the research report, Why Interoperability is Important to Faster Payments. The report is the latest part of a three-year, multifaceted industry study consisting of quantitative and qualitative research, launched by the FPC and Glenbrook in 2019.Published the last two years, the Faster […]
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Systems

Fed Proposes Rules for Funds Transfers on Faster Payments Platform

“The Federal Reserve Board proposed a new set of rules Tuesday dealing with how funds transfers will be carried out over the central bank’s real-time payments service that is expected to become available in 2023. The Fed said the measure governing transfers on the new FedNow service would have similarities with the existing framework for […]
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Systems

European Central Bank Castigates Banks Over Instant Payment Fees

“The European Central Bank has warned that the charges levied by banks for instant payments are proving a barrier to uptake and “must change”. Speaking at a payments forum hosted by Finland’s central bank, ECB board member Fabio Panetta notes that on the operational side, the Eurosystem has taken steps to ensure the pan-European reach […]
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Systems

An Instant Payments Operator Update – FedPayments Improvement

“The recent U.S. Faster Payments Council (FPC) Spring Conference offered an opportunity to hear from industry leaders about key developments in areas such as interoperability, fraud prevention and use case trends. A highlight of this virtual event was a discussion with Nick Stanescu, senior vice president and FedNow business executive and Steve Ledford, The Clearing […]
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Global

SA banks are ‘forced’ to charge more for instant payments – but their prices vary wildly

“South African banks say they have little choice but to charge extra for processing immediate electronic payments between clients of different banks. In a single year, banks process more than 49 million of these premium-rate transactions – but quite how much banks believe this extra computing power and risk should cost clients differs greatly. At the extremes, […]

On The Wires

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Systems

U.S. Faster Payments Council Publishes Interoperability Research Report

“The U.S. Faster Payments Council (FPC), in partnership with Glenbrook Partners , today released the research report, Why Interoperability is Important to Faster Payments. The report is the latest part of a three-year, multifaceted industry study consisting of quantitative and qualitative research, launched by the FPC and Glenbrook in 2019.Published the last two years, the Faster Payments Barometer […]
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Global

Updated NPP Roadmap Presents ‘PayTo’ – NPPA

“Every six months, the NPP Roadmap provides an updated overview of the plans to enhance and extend the Platform’s capabilities to meet wider needs of the payments ecosystem. The April 2021 roadmap – now available here – unveils the name chosen as the new official moniker for what was previously known as the Mandated Payments […]
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Systems

Cross Borders, Cross Industries, Cross Payment Types: FIS RealNet Solution Changes the Game in Real-Time Payments

“Financial technology leader FIS ® (NYSE: FIS) today announced RealNet ™, a new cloud-based, software as a service (SaaS) platform that will enable account-to-account (A2A) transactions for businesses, consumers and governments over real-time payment networks. The FIS RealNet platform will make it easier for organizations across all industries to send, receive and accept payments, whether they […]