On The Web

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Systems

Jack Henry & Associates Unveils Faster Payments Hub

March 13 2019

• in
• Faster payments

“Dubbed JHA PayCenter, the new payment hub will offer the vendor’s core clients access to faster payment networks such as Zelle and the RTP network. The process is said to be a low cost one. Through the hub, financial providers can centralise the manner in which real-time payments are sent and received, Jack Henry said. […]

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Domains

Is this Swift’s answer to Ripple?

February 12 2019

• in
• Cross-border payments
• Faster payments

“But lately Swift, which once considered Ripple and other tech company rivals an existential threat, has struck a more confident tone. Swift says the progress it is making with so-called global payments innovation, or GPI — technology that lets banks see where their payments are at all times, and that comes with rules around response […]

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Systems

The Fed Should Develop Its Own Real-Time Payments, Say Three Former Fed Payment Experts

January 31 2019

• in
• Faster payments

“She is one of three former Fed executives who responded to the Fed’s request for comments on whether the central bank should develop its own real-time payments system which would compete with a system being slowly rolled out by The Clearing House. All three think the Fed should develop and operate a real-time payments system.”

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Global

Payments and market infrastructure development: Reserve Bank of Australia – Central Banking

January 24 2019

• in
• Australia
• Faster payments

“The final result bore fruit in February 2017 with the creation of the New Payments Platform – a ‘new set of payment rails’ to allow real-time payments. The NPPconsists of two sets of payment infrastructure – the NPP ‘basic infrastructure’, run and designed by Swift, and the RBA’s Fast Settlement Service.”

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Domains

IBM Launches A Blockchain-Based Global Payments Network Using Stellar’s Cryptocurrency

March 18 2019

• in
• Cryptocurrencies
• Faster payments
• Global Payments

“IBM Blockchain World Wire will help financial institutions improve the services they deliver to their consumers by optimizing and accelerating foreign exchange, cross border payments and remittances. Using the Stellar protocol, World Wire serves as a network provider for international payments, enabling point-to-point money transfers in lieu of the complexities of conventional correspondent banking. While IBM announced an […]

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Deals

Nationwide Invests in New Payment Request Service Ordo

May 2 2019

• in
• Faster payments

“Nationwide Building Society has invested an undisclosed sum in new payment request service Ordo, which launches later this year, reports Jane Connolly.  “An alternative for small and medium sized businesses to the big banks” Using apps and secure messaging, Ordo connects businesses with their customers via a payment request system that doesn’t require the customer’s bank […]

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Systems

NACHA & Faster Payments Council Developing ‘Faster Payments Playbook’ | Credit Union Times

May 14 2019

• in
• ACH
• Faster payments

“NACHA’s Payments Innovation Alliance and the U.S. Faster Payments Council (FPC) have launched a partnership to develop an “educational and online decisioning platform” called the Faster Payments Playbook. Its objective is to help credit unions and other payments organizations create their own faster payments strategies by addressing developments in faster payments and identifying opportunities for […]

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Systems

The Fed Says an Announcement About Operating a Real-Time Payment System Is a Ways Off

May 7 2019

• in
• Faster payments

“Will it or won’t it? Those eagerly awaiting word about whether the Federal Reserve will directly operate a real-time gross settlement system will have to wait a bit longer. The Fed last October said it was considering whether to directly develop and operate a RTGS system as an outgrowth of its years-long payment system improvement […]

On The Wires

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Systems

Nacha’s Payments Innovation Alliance and the U.S. Faster Payments Council Collaborate to Develop the Faster Payments Playbook

May 8 2019

• in
• ACH
• Faster payments

“Today, Nacha and its Payments Innovation Alliance, jointly with the U.S. Faster Payments Council, are announcing a collaboration to further develop the Faster Payments Playbook, an educational and online decisioning platform that will help banks, credit unions and businesses develop a faster payments strategy – from concept to reality.”

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Systems

ACI Worldwide Ready for Saudi Arabia’s Real-Time Payments Launch

May 7 2019

• in
• Faster payments

“ACI’s solution offers participating Saudi banks faster and lower-risk onboarding to the new real-time services through its global partnership with Vocalink , a Mastercard company and a leading technology provider, which announced last week that it has partnered with the Saudi Arabian Monetary Authority (SAMA) to launch real-time payments in the Kingdom.”