Instant Payments

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Checkout.com cuts staff after sales losses

/payments

Checkout.com cuts staff after sales losses

UK-based payments processor Checkout.com has cut almost a quarter of its work force following a drop in revenue.

Fear of fraud in instant payments shouldn’t stop progress – US Faster Payments Council

/predictions

Fear of fraud in instant payments shouldn’t stop progress – US Faster Payments Council

A key conflict that will undoubtedly shape progress within fintech successes throughout 2025 is the shifting innovations of instant payments and the problem of evolving fraud alongside it.

Why financial technology can make global payments a frictionless process

/payments

Why financial technology can make global payments a frictionless process

Both consumers and businesses, as technology has developed, have begun to rely on global payment services for a variety of uses. As the process becomes more and more digitised, fintech firms are focussed on better speeds and transparency whilst remaining just as, if not more, secure.

10 trends that will impact payments in 2025, according to Mastercard

/payments

10 trends that will impact payments in 2025, according to Mastercard

In this preview of a Mastercard report being released in early 2025, leaders at the card processer say that generative AI is emerging as critical to boosting fraud protection rates by as much as 300%.

AFP: Truist Bank exec says speed and simplicity is how to delight customers

/payments

AFP: Truist Bank exec says speed and simplicity is how to delight customers

Finextra sat down with Chris Ward, EVP enterprise payments for Truist Bank, to talk about what he sees coming in the future of payments.

Sibos: Financial institutions are “nowhere near” 2027 G20 targets

/Sibos

Sibos: Financial institutions are “nowhere near” 2027 G20 targets

Alan Marquard, executive vice president, applications at Mastercard commented on their current progress towards 2027 goals as reported by FSB in their second annual assessment in a session on G20 targets at Sibos in Beijing: “we're four years in the journey to 2027, and we're nowhere near there. I find that completely unsurprising. The metrics were set up as quantitative metrics, but set at a global level without clarity on who was responsible for achieving them.”

AFP: FedNow vs. The Clearing House’s Real Time – where does Request for Payment fit in?

/payments

AFP: FedNow vs. The Clearing House’s Real Time – where does Request for Payment fit in?

Taking to the stage on the penultimate day of the AFP conference in Nashville’s Music City Center, were Netflix’s Joshua Karoly, The Clearing House’s Cheryl Gurz, US Bank’s Mike Thomas in a panel led by Strategic Resource Management’s Dean Nolan.

AFP: Does the US need Faster Payments?

/payments

AFP: Does the US need Faster Payments?

How much choice is too much choice? The second day of AFP in Nashville, Tennessee, saw BNY Mellon’s Sumner Francisco, Finzly’s Karuna Kathir, PTap Advisory’s Peter Tapling and Walmart’s Sarah Arnio, take to the stage to discuss the adoption and benefits of Faster Payments and the differences between rails such as instant payments, same-day ACH, and push-to-card transactions.

Sibos: PBoC to promote the ‘healthy development of cross-border payments’

/Sibos

Sibos: PBoC to promote the ‘healthy development of cross-border payments’

“The People’s Bank of China (PBoC) will continue to promote healthy development of cross border payment in the principles of openness, cooperation and mutual benefit,” said Lu Lei, deputy governor, The People's Bank of China, during the Sibos’s opening plenary.

Bank of Kenya migrates national payment system to ISO20022

/payments

Bank of Kenya migrates national payment system to ISO20022

Earlier this week, the Bank of Kenya announced the successful migration of the Kenya Electronic Payment and Settlement System (KEPSS) to the ISO20022 Global Messaging Standard.

Paysend launches Paysend Libre in Mexico to reach underbanked population

/inclusion

Paysend launches Paysend Libre in Mexico to reach underbanked population

In a push for financial inclusion in Mexico, Paysend has launched Paysend Libre backed by Mastercard.

European A2A payments set for take off - report

/payments

European A2A payments set for take off - report

The European Payments Initiative’s Wero wallet is likely to accelerate adoption of A2A payments, with 37% of payment executives anticipating it will significantly offset card transaction growth by 2027, claims a Capgemini report.

Nationwide app hit with Faster Payments delay

/payments

Nationwide app hit with Faster Payments delay

Nationwide users have received a message that payments "are delayed at the moment". This comes after similar issues in June.

UK Economic Secretary Tulip Siddiq called on to reduce APP fraud reimbursement to £30k

/crime

UK Economic Secretary Tulip Siddiq called on to reduce APP fraud reimbursement to £30k

This news comes a week after the UK payments group issued a plea to Chancellor Rachel Reeves to impose a 'Tech Levy' on social media giants to pay for the impact of payments fraud originating from their platforms.

RBI joins Project Nexus for instant cross-border payments

/payments

RBI joins Project Nexus for instant cross-border payments

RBI (Reserve Bank of India) is the latest bank to join the global Project Nexus initiative, designed to enable instant cross-border instant payments.

EBAday 2024: Collaboration is key to fraud management

/security

EBAday 2024: Collaboration is key to fraud management

In one of the closing sessions of EBAday 2024 in Lisbon, panellists Marc Corbalan, VP of RTP analytics at Visa; Erwin Kulk, head of service development and management at EBA Clearing; Simone Löfgen, global head of payment platforms and managing director at Commerzbank; and Kannan Rasappan, founder and CEO of Banfico, explored innovations in cybersecurity in a panel titled ‘New approaches to fraud management’.

EBAday 2024: 75% view instant payments regulation as their number one priority

/payments

EBAday 2024: 75% view instant payments regulation as their number one priority

Hosting the second roundtable of the event, Sulabh Agarwal, global head of payments at Accenture spoke with Simon McConnell, European clearing head, treasury and trade solutions at Citi; and Bruno Mellado, global head of payments and receivables at BNP Paribas about navigating the testing waters of transformation for banks.

EBAday 2024: Navigating the oxymoron of cross-border real time payments

/payments

EBAday 2024: Navigating the oxymoron of cross-border real time payments

The second day of EBAday 2024 in Lisbon kicked off with exciting panel sessions discussing real-time payments.

EBAday 2024: Possibilities and boundaries of the OCT Inst scheme

/payments

EBAday 2024: Possibilities and boundaries of the OCT Inst scheme

Moderating the last panel of the first day of EBAday, Rita Camporeale, vice chair of the European Payments Council led a conversation on the OCT Inst scheme with Daniele Astarita, principal solution consultant of real time payments at ACI Worldwide; Damien Godderis, head of payments industry engagement - payments & receivables - cash management at BNP Paribas; Xavier Herrero, manager operations groups at CaixaBank; and Michael Knetsch, tribe lead instant payments, cash management at Deutsche Bank.

56% of US companies offer faster payments; 35% planning to do so

/inclusion

56% of US companies offer faster payments; 35% planning to do so

According to a new US Faster Payments Council (FPC) report, more work is needed to ensure most faster payments products are financially inclusive.

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