Payments News

On The Web

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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, […]
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Global

Pix exceeds 1 billion transactions in five months

“Pix has surpassed the 1 billion transaction mark since its launch last November. There were 1.05 billion instant transactions in five months, to be exact. The number was reached during the month of March, when there were 393.64 million instant payments, an increase of 43% compared to February. In values, Pix traded R $ 787 billion between November […]
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Global

BankservAfrica Selects TCS BaNCS™ to Drive South Africa’s Rapid Payments Program

“Tata Consultancy Services (TCS) has been appointed as the technology provider for South Africa’s payments platform build for the Rapid Payments Programme (RPP). By joining forces with TCS, BankservAfrica will evolve payments for the hyperconnected digital economy in South Africa and beyond…RPP meets the requirements of the Payments Association of South Africa’s (PASA) vision for […]

On The Wires

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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 […]
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Global

 EMQ Delivers Enhanced Cross-Border Payment Capabilities in Hong Kong

“Global financial settlement network EMQ today announced a significant enhancement to its cross-border payment capabilities by adding Hong Kong’s Faster Payment System (FPS) to the network. This extends EMQ’s network infrastructure deeper into domestic markets, enabling global customers to cost-effectively send funds in both Hong Kong Dollar (HKD) and Renminbi (RMB) in minutes, reaching a […]
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Global

Retail Payments: Council Supports Action to Promote Instant Payments and EU-wide Payment Solutions

“EU member states want to make it easier for consumers to pay in shops, and to make e-commerce transactions widely available, convenient and safe across the EU. The Council today adopted conclusions that respond to the retail payments strategy for the EU presented by the Commission in September 2020. Against the background of rapid innovation […]
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Global

Fidor Solutions Partners With SIA to Launch Instant Payments Service in Europe

“Fidor Solutions, a 100 % subsidiary of Sopra Banking Software, has signed a partnership agreement with SIA, a leading European hi-tech company in payment services and infrastructures, controlled by CDP Equity, to launch its new instant payments service in Germany and in other European countries. Thanks to this agreement, Fidor Solutions is able to allow European […]