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What will real-time gross settlement services be like in the future?
The Eurosystem operates two systems that form the backbone of the financial market infrastructure in Europe – TARGET (the real-time gross settlement (RTGS) system for the euro) and TARGET2-Securities, or T2S (the single securities settlement platform). TARGET, launched 17 years ago, enables payment transactions to be settled immediately in central bank money and supports the [...]
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What does the future hold for US domestic payments?
It has been many years since significant changes have come to the US Dollar (USD) domestic payments space. In fact, it has remained relatively unchanged, at least in a sweeping, strategic sense, for the last four decades, since NACHA (National Automated Clearing House Association – which manages Automated Clearing Houses (ACH) in the United States) [...]
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Strong commitment for pan-European instant payment launch
EBA CLEARING has announced that close to 40 financial institutions operating across SEPA have committed to supporting and funding the development and implementation of its pan-European instant payment platform. The funding institutions will be involved in shaping the system design, functionality and interface specifications. The future infrastructure service is scheduled to be live in Q4 2017. [...]
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ACI enables PSPs and challenger banks to access UK Faster Payments
ACI Worldwide has announced a collaboration opening up access to the Faster Payments Scheme in the UK for a significant number of financial institutions, including challenger banks and payment service providers (PSPs). Historically, access to the Faster Payments Scheme for challenger banks and PSPs was restrictive, often not real-time and typically expensive. ACI’s relationship with Raphaels [...]
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Real-time payments: The need for speed
Consumer-facing technology brands have done much to reset customer expectations around speed, but also convenience, value and choice. Consumers can send and receive e-mail across the globe almost instantly. They can stream digital content live, or summon a cab or a meal within minutes. What are the implications of this need for speed for the [...]
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