Latest Instant Payments News: Finextra Research

The State of US Instant Payments Adoption

In this PREDICT 2025 USA interview, Reed Luhtanen, Executive Director, U.S. Faster Payments Council, talks about industry expectations for instant payments in the US for 2028 – the year in which between 70-80% of financial institutions are expected to receive instant payments, and 30-40% will have the capability to send instant credits.

14 November 2024

Finextra TV/regulation

How Regulators are Paving the Way for Innovation in the Payment Space

New trends in payments are emerging, with regulator-led innovations sparking 'coopetition' among governments, private companies, and big tech. In this FinextraTV interview, Thoughtworks' Head of Financial Services Practice Muralikrishnan Puthanveedu explains how these moves are creating a foundation for a thriving digital economy — advancing financial inclusion, consumer experience, and global prosperity. Examples like the Fed’s ISO 20022, Europe’s digital identity leadership, UK's New Payment Architecture (NPA) and the BIS’s work in breaking down payment barriers showcase a regulatory push toward seamless, data-driven, interconnected global payment systems.

30 October 2024

Finextra TV/payments

Open Banking - Payment Method or Payment Solution?

In a conversation with FinextraTV, Moshe Winegarten, Chief Revenue Officer at Ecommpay, and Todd Clyde, CEO of Token.io, discuss the future of open banking and the evolving payments landscape. The discussion highlights a global shift towards instant payments in 84 countries and the consolidation of payment service providers (PSPs). Open banking emerges as a cost-effective and faster alternative to traditional card payments, which it is predicted to replace. The interview also addresses challenges like payment discrimination and the need for localised virtual accounts to improve acceptance rates. As account payments grow, building the necessary infrastructure and forging partnerships will be critical to support this shift and optimise payment success rates.

29 October 2024

Finextra TV/Sibos

Latest Developments in Real Time Payments: Innovation and Interoperability

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Peter Reynolds, Executive Vice President Real Time Payments, Mastercard, highlights how 2024 has welcomed a new era with 100 countries now with live real time payments systems, covering 87% of the world’s GDP. Exploring the substantial growth across account-to-account payments and the conversion of cash to digital payments, the interview examines how the financial ecosystem is opening with digital wallet payments, QR Code acceptance and the promise of interoperability.

24 October 2024

Finextra TV/Sibos

How Will New Technologies Shape the Future of Payments?

In an interview with FinextraTV in the lead-up to Sibos 2024, Pilar Fragalà, Chief Commercial Officer of CBI, explores the impact of digital technologies and regulations on payment services. Highlighting the role of AI, APIs, and blockchain in enhancing security and speed, while PSD2 and PSD3 drive open banking and consumer protection, the discussion focuses on innovations like embedded finance and instant payments that offer transparency and flexibility. Addressing growing fraud risks, the interview examines how technology can prevent fraudulent transactions by verifying IBAN and beneficiary details in real time.

23 October 2024

Finextra TV/Sibos

Why Cross Border Real Time Payments are the Next Big Thing

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Ainsley Ward, Vice President Payments Solutions, CGI, explores the topic of instant mandates and the implementation of Verification of Payee (VoP) across Europe. Cross border real time payments as a concept presents a new era of opportunity for the financial services industry because infrastructure is at a point where it can support this form of money movement and nearing the end of the ISO 20022 rollout in November 2025, mandates are ensuring payments are instant across the SEPA inclusion zone. It is evident that change is afoot and that is not stopping any time soon; while the payment environment changes, traditional networks like Swift, Visa and Mastercard will have to fall in line to allow the blossoming of these new real time schemes.

22 October 2024

Finextra TV/Sibos

Why Corporate Treasurers are Focused on Real Time Treasury

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Rachel Whelan, Managing Director, APAC MEA Head of Corporate Cash Management and Global Head of Payments and TFX Product Management at Deutsche Bank, comments on the four key drivers that are encouraging corporate treasurers to leverage real time treasury and the impact this change in business model would have on the way in which traditional treasury structures are set up. 2024, a year with elections in multiple countries and numerous geopolitical events, has also seen macro level developments such as the interest environment changing rapidly and high volatility when it comes to cash visibility. Further, risk management remains the biggest requirement for treasuries because it relies on the visibility of data and the movement of funds across the world and technological disruption in the form of AI, open banking and APIs will increase the speed of change and bolster foundations for the G20 instant payments roadmap to be fulfilled.

21 October 2024

Finextra TV/payments

Embracing the Shift: Instant Payments and Infrastructure Transformation

Michael Engel, Managing Director & VP of Banking Software at Diebold Nixdorf, highlights the growing shift from traditional to instant payments, driven by increasing demand for speed and agility in transactions. While methods like SEPA and the digital euro gain momentum, the challenge of integrating these with legacy systems persists. Engel emphasises the importance of affordable, cloud-native, microservices-based platforms to boost scalability and security, especially in e-commerce. Success stories show banks launching new services within weeks, a dramatic improvement from the previous six to nine months. As consumer expectations rise, financial institutions must balance innovation with reliability.

21 October 2024

Finextra TV/payments

Technology, the Catalyst for Banks to Evolve into Competitors

FinextraTV and Gabriela Giannattasio, VP of EMEA, Veritran, tap into how banks should be prioritising streamlining user experiences, enhancing seamless payment systems, making them secure, and ensuring compliance with upcoming regulations all at the same time. In this new age of financial polyamory, individuals and businesses are no longer married to just one bank, and banks should view collaboration as the silver bullet solution to these challenges and actively leverage available opportunities to connect with technology partners.

10 September 2024

Finextra TV/payments

What changes lie ahead for the future of real-time payments

At EBAday 2024, Paul Francis Walvik-Joynt, Senior Vice President, Real Time Payments, Mastercard, shares an outline of what changes lie ahead for real-time payments and what the proliferation of real-time payments means for the adoption of instant payments. It is evident that trust needs to be maintained as the industry grows and introduces new networks, ensuring organisations are remaining resilient and fraud is combatted. Further, with the advent of new real-time payments systems, opportunities are opening up for domestic and global payments, and for technologies such as AI to be leveraged.

17 July 2024

Finextra TV/payments

The global approach to solving payee verification challenges

Albert Sitelis, Head of Partnerships & Market Development at Banfico, discusses the hurdles of meeting the IP regulation compliance deadline for payee verification at EBAday 2024. With over 5000 PSPs in Europe, connectivity remains a major challenge, despite existing name check systems in several countries. Sitelis stresses collaboration among schemes, technical providers, and banks as crucial, and advocates for broader industry involvement beyond banks to combat APP fraud globally, suggesting the need for enhanced data analysis beyond name matching.

16 July 2024

Finextra TV/payments

Looking Ahead to the Future of Cross-Border Payments

At EBAday 2024, Dawid Janas, Global Head of Clearing & FI Payments, Treasury and Trade Solutions, Citi, discusses the biggest changes happening currently across the cross-border payments landscape and how banks can ensure success in this rapidly changing environment. The conversation also turns to the technologies driving this change and how financial institutions can successfully scale their clients' cross-border payments processes.

15 July 2024

Finextra TV/payments

Payments Evolution: Key Drivers for Transformation

At EBAday 2024, Andrea Pennacchia, Head of Banking and PA Solutions, Nexi Payments, identifies the key drivers of account to account payment market transformation towards digital and real-time processing. While the payments landscape is changing, the industry has to match new customer needs, fast changing regulatory demands and payments infrastructure evolving needs. Instant payments, among these trends, will drive this payments (r)evolution.

09 July 2024

Finextra TV/payments

Cross-border payments: Unveiling the real value of industry initiatives

At EBAday 2024, Simon McConnell, Board Member, Euro Banking Association, and Annick Moes, Assistant Director, Euro Banking Association, provide a sneak peek into an EBA survey on cross-border payments. While there is a clear roadmap for enhancing these payments, the multitude of industry initiatives makes it difficult for payment service providers to determine how to best get there. This mesmerising conundrum can only be resolved by cutting through the marketing speak, taking stock of the different initiatives and unveiling their value for solving the identified challenges.

09 July 2024

Finextra TV/payments

Instant Payments Regulation and the Impact on Cash and the Digital Euro

At EBAday 2024, Nuria Mohedas, Head of Payments and Digital Banking, Cecabank and Julio César Fernández, Head of Business Development and Operations Support, Cecabank, share their opinion on the new European Instant Payments regulation. Join Cecabank as they explore the evolution of cash in Europe and the dive deep into what influence the new Digital Euro project could have, particularly in light of new regulations like PSR.

03 July 2024

Finextra TV/payments

Implementing Instant Payments: Challenges and Strategies for Banks and PSPs

At EBAday 2024, Sheri Brandon, Chief Market Officer, Northern & Western Europe, Worldline, sets the scene around the challenges and strategies that permeate when implementing instant payments, including short deadlines that must be met amid many other ongoing regulation projects. Resources can be constrained in these scenarios, and banks must now consider how new regulation will lead to new requirements, such as Verification of Payee, and ensure these processes fit into current processes. The discussion also covers implementation of instant payments and the trade-offs that must be established. Security must be enhanced, the back office must be managed differently and maintenance windows must be rescheduled as liquidity management is of paramount importance. Moving from predictable flows to instant flows will be a cumbersome challenge.

03 July 2024

Finextra TV/payments

SEPA Instant Mandate: Racing to European Banking transformation

Ainsley Ward, Vice President at CGI, and Global Business Development lead for CGI’s Payments Solutions, sheds light on European Parliament's SEPA Instant Mandate and the 9th of January 2025 deadline for Eurozone banks. With the Federal Reserve's FedNow initiative connecting 400 banks in a year underscoring varying market readiness, challenges still persist. We discuss alternatives found in new technologies and scepticism over universal compliance in anticipation of EBAday, where stakeholders can converge to navigate regulatory complexities and seek solutions in this digital era.

17 June 2024

Finextra TV/payments

IP Regulation, VoP and Interoperability: Preparing for the October 2025 Deadline

FinextraTV and Banfico’s CEO Kannan Rasappan explore all the current moving pieces of the puzzle for payments service providers in the EEA region, dive deep into the biggest challenges ahead of compliance with the incoming instant payments regulation in October 2025 and how Verification of Payee will impact this. VoP must also be considered as a fraud and financial crime mitigator, and the conversation turns to how cross border payments could open the door to potential scams and how banks must stop operating in siloes to prevent them. Banfico is running an upcoming webinar to delve deeper into these topics with other key players in the VOP landscape.

12 June 2024

Finextra TV/predictions

Payment trends to watch in 2024

In today's financial landscape, the growth of instant and account-to-account payments is countered by a rise in fraud. In this episode of Predict 2024, Ed Metzger, Vice President of Market Planning Payments Efficiency at LexisNexis® Risk Solutions, shares his forecast for emerging payment trends. Focusing on the impact on financial institutions and customers, we discuss how solutions like LexisNexis® Risk Solutions' Safe Payment Verification will enhance banking practices by verifying account ownership and optimizing cross-border fund transfers. Additionally, we explore why corporates are moving payments in-house and identify growth opportunities for banks through adopting banking-as-a-service platforms.

15 February 2024

Finextra TV/predictions

Predicting growth for clearing houses and scheme operators in 2024

As payment markets evolve, further progress hinges on open access facilitated by infrastructure modernisation. In this Predict 2024 episode, Paul Ruggieri, Senior Vice President, Real Time Payments, Product Management, Mastercard, discusses growth opportunities for clearing houses and scheme operators, emphasising the need for standardised communication strategies between operators and payment systems. We explore the significance of interoperability and the prioritisation of standardisation to enhance cross-border transactions. Additionally, we explain the key methods for ensuring seamless transactions across borders, leveraging ISO 20022 data and AI for fraud prevention, resilience, and scalability across all 13 markets.

13 February 2024