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July 22, 2024

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On the web

The Bank-V.-Fintech Battle for Payments Moves Into B2B

Digital Finance

"The Bank of International Settlements estimates that from 2013 to 2023, the volume of cross-border payments increased by 61 percent, and the value of those payments grew by 37 percent. But banks are reducing their correspondent banking relationships (down by 29 percent over that decade) and cutting the number of corridors (country pairs) they serve."

July 19, 2024

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On the web

5 Request for Pay (RfP) Use Cases for Billers


"Real-time payments are a critical part of payments modernization. Request for Pay (RfP) is a financial messaging scheme built on the rails of real-time payments that enables billers to initiate real-time payments from bill payees with the click of a button."

July 18, 2024

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Same Day ACH Reaches New Heights as ACH Network Volume Increases


"Same Day ACH reached new heights of payment volume and value as the modern ACH Network posted significant volume and value increases in the second quarter of 2024, Nacha reported.  There were 8.3 billion ACH payments in the second quarter, an increase of 6.3% over the same time period in 2023. The dollar value of these ACH payments totaled $21.6 trillion, a 7% increase."

On the web

How TD Bank is Preparing for ISO 20022 with the Customer in Mind


"The move to adopt the ISO standards is being driven by a few critical industry timelines. On March 10, 2025, Fedwire – the bank-to-bank wire system operated by the U.S. Federal Reserve – will require all 5000+ participants to be ISO-ready. Culminating in November 2025, SWIFT, a messaging network that is used by banks and corporates globally to send and receive financial information, will require its 11,000+ participants to be ISO compliant."

On the wires

Aurus Integrates Paze for Easy, Convenient Online Checkout Option for Retailers

PR News Wire

"Aurus, Inc., a leading provider of payment processing solutions, announced a partnership with Early Warning Services, LLC to integrate a new online checkout solution Paze SM, into their payment platform. Wakefern Food Corp., the nation's largest retailer-owned cooperative, is among the first group of retailers using the Aurus platform to begin offering their online shoppers the quick and convenient Paze checkout option."

Alchemy Pay Announces Update to its Crypto Payments Business

PR News Wire

"Alchemy Pay announced a significant update to its crypto payment business, aimed at optimizing the overall user flow for seamless and efficient crypto transactions and acceptance. Alchemy Pay now supports users connecting their exchange and brokerage accounts such as Coinbase, Kraken, and Robinhood to pay for orders using their crypto balances."

July 17, 2024

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On the web

Consultation Conclusions for Legislative Proposal to Implement Regulatory Regime for Stablecoin Issuers in Hong Kong Released

Hong Kong Monetary Authority

"The Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority jointly issued the consultation conclusions on the legislative proposal to implement a regulatory regime for fiat-referenced stablecoin issuers in Hong Kong. The proposed regulatory requirements and implementation arrangements received general support from respondents, with some further enhancements suggested in the submissions."

July 16, 2024

On the web

On the wires

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