Real-time cross-border payments RSS
China launches cross-border interbank payment system
China’s central bank has launched the China International Payment System (CIPs), a worldwide interbank payment system and superhighway for the yuan to facilitate trade settlement and investment dominated in the yuan. CIPS will replace a patchwork of existing networks that make processing renminbi payments a more cumbersome process. It will comprise of two phases, the first of [...]
The post China launches cross-border interbank payment system appeared first on Payments Cards & Mobile.
Real-time cross-border payments – ISO 20022
Real-time cross-border payments might soon be a reality, thanks to the efforts of a new payments industry group. But is there a business case for adopting the ISO 20022 standard? With multiple countries implementing real-time payments initiatives around the globe, interoperability between systems is key. Therefore, the ISO Real Time Payments Group (RTPG), a collection [...]
The post Real-time cross-border payments – ISO 20022 appeared first on Payments Cards & Mobile.