The European Commission has mandated instant payments across the eurozone, and banks must urgently ensure that their payment systems are fit for purpose.

As the treasury sector reflects on another eventful year, Euromoney looks at likely developments for the next 12 months.

Account-to-account payments have become a priority area for regulators, but industry participants argue that rule makers need to do more to support wider use of pay-by-bank services.

The DAC space is crowded. Nevertheless, BNY Mellon has gone further than most of its peers in embracing crypto.

Capgemini’s world payments report highlights dissatisfaction among smaller clients with the services offered.

As corporate APIs are catching up their consumer-focused equivalents, many doubt they can replace legacy options.

More awareness by corporates of the role played by small suppliers has boosted early payment programmes.

Offloading payment infrastructure makes sense for some banks as customer demands become more sophisticated – not all.

UK regulators have pushed big banks to establish an innovative form of payment that could leave fintechs struggling.

Businesses are tying up cash in payroll that could be used to boost working capital.

The blockchain-based cross-border payments platform will operate across 15 countries.

Providers of business-to-business buy-now-pay-later services believe that they can provide a competitive alternative to invoice factoring. As rates rise, however, the risks embedded in the process will only grow.

Payment service providers have welcomed the UK Payment Systems Regulator’s plan to promote account-to-account payments, but much needs to be done to boost take-up.

Despite the current financial turmoil, proponents of de-dollarization still have a mountain to climb. But blockchain and digital currencies could put their goal within eventual reach.

The early days of war in Ukraine saw the price of bitcoin rise. New technology now improves the prospect that wealth stored in crypto may be spent.

The prospect of China’s Cross-Border Interbank Payment System vying with or supplanting Swift grabbed attention in the wake of Russia’s invasion of Ukraine. But CIPS isn’t ready for the big time. It is too small and underdeveloped, and is a policy vehicle dominated by Beijing for the purpose of globalizing the yuan.

For Putin, the threat of expulsion from Swift carries far less weight than it did in 2014. Russia’s own system for transfer of financial messages can now settle domestic transactions, but the move would still trigger a deep recession in the country.

Non-bank lenders are offering growing volumes of embedded finance both wholesale to merchants selling on e-commerce marketplaces and to their retail customers.

Nicolas Cailly, head of payments and cash management at Societe Generale, is responsible for growing the French bank’s cash-management franchise. He tells Euromoney why the bank’s new treasury offering is a step forward for TMS implementation.

Corporates face challenge and opportunity as the payments industry moves towards implementation of the ISO 20022 messaging standard.

Many banks are taking a relaxed approach to the migration of payment systems to the new messaging standard.

Chief executive of commercial banking Doug Petno says advanced payments technology rather than lending is the key to winning mid-market clients.

Bank of America’s global and Asia-Pacific heads of receivables tell Euromoney how their artificial intelligence-powered intelligent receivables service has slashed client-matching error rates.

There was a time when Paytm was the epitome of rising digital Asia, but the dismal opening of its IPO suggests it and its peers are no longer market darlings in the eyes of investors.

Private wealth clients, niche asset managers and sophisticated trading firms could all have appetite for tokenized trade finance.

More financial institutions are moving into the banking-as-a-service market to tap into demand from corporates looking to offer multiple payment options and enhance customer loyalty.

Nobody doubts that cross-border payments could be more efficient and less laden with intermediaries. But are JPMorgan and Oliver Wyman right to suggest that central bank digital currencies are the answer?

Under new leadership and with new technology, the Dutch merchant bank pivots from shipping loans to digital lending to SMEs across Europe.

Proponents of the technology have described non-fungible tokens as a unique opportunity to establish ownership of specific assets across the trade finance spectrum. Are they right?

A new blockchain-based payments platform is backed by JPMorgan, DBS and Temasek. It is the source of some pride to the Monetary Authority of Singapore, as the new business is the result of a long-term financial experiment.