Payments News

On The Web

nbsp;

Standards

ECB responds to Swift’s blueprint for ISO 20022

“Under instruction from the European Central Bank, interbank payments network Swift has drawn up a blueprint designed to mitigate complications borne from its surprise decision to delay the migration to the new ISO 20022 messaging standard. A letter obtained by Finextra Research addressed to Swift’s CEO from the ECB requested that Swift mitigate the challenges […]
nbsp;

Standards

Ripple Gets Ready for ISO 20022

“Ripple claims to have become the first blockchain-focused payments company to join the ISO 20022 standardisation committee, future-proofing its business for the eventual arrival of the data-rich messaging protocol.”
nbsp;

Standards

ECB Steps in Over Swift’s ISO 20022 Migration Delay

“During its March 2020 meeting the Swift Board and Executive endorsed a decision to shift their ISO 20022 migration date for cross-border payments from November 2021 to end 2022.The unexpected decision was met with surprise from institutions across the European market which now face another hurdle in the monumental transition to the new data-rich financial […]
nbsp;

Standards

SWIFT Intends to Change Its Operations With ISO 20022 Delay, Fiserv Says

“SWIFT, the financial messaging provider, is using the delay of ISO 20022 to evolve its financial messaging service into transaction management, according to Fiserv’s David Chance. The delay of the new messaging standard ISO 20022 been brought on because SWIFT is intending to play a bigger role in the cross-border payments space. With the new […]
nbsp;

Standards

New Swift ISO Will Be Delayed

“A proposed migration date for a new ISO covering cross border payments looks set to be delayed by a year. The ISO 20022, which was proposed by international financial network service provider Swift, was due to come into force in November of next year (2021). The aim of the new system was to provide a […]
nbsp;

Standards

Consultation on ISO 20022 Migration for Australian Payments System

“The Reserve Bank and the Australian Payments Council (APC) today issued a consultation paper seeking stakeholder views on the migration of messaging used in some parts of the Australian payments system to the International Organization for Standardization (ISO) 20022 payments messaging standard. The Australian payments system comprises a number of payment services, clearing systems and […]

On The Wires

nbsp;

Standards

ASC X9 Launches ISO 20022 Best Practices Forum

“The Accredited Standards Committee X9 Inc. ( X9 ) announced the formation of the U.S. ISO 20022 Market Practice Industry Forum, which will work to research and document best practice recommendations in order to catalyze ISO 20022 usage in the United States. ISO 20022 is a multi-part international standard that defines a common platform for […]
nbsp;

Standards

Volante Extends Collaboration With Citi for Global ISO 20022 Migration

“Volante Technologies , the global leader in cloud payments and financial messaging, and Citi Treasury and Trade Solutions (Citi) are deepening their longstanding relationship to accelerate the bank’s adoption of the ISO 20022 financial messaging standard across its global payments operations. As a result of this collaboration, Citi will be the first Volante customer to offer […]
nbsp;

Global

Payments Canada Publishes ISO 20022 Messages for Lynx, Canada’s New High-value Payments System

“Payments Canada today announced the availability of ISO 20022 messages for Lynx, Canada’s new high-value payments system.  With the publication of ISO 20022 messages for Lynx, system participants can start preparing their existing applications to leverage the value of ISO 20022. Likewise, vendors who support Canada’s payments ecosystem can use the published messages to update […]
nbsp;