Payments
all page content
all page content
Main body page content
LATEST ARTICLES
-
Banks and regulators are keen to use instant payments to reduce the influence of Visa and Mastercard on the European payments industry – but replacing these two dominant players will be far from easy.
-
Chief financial officers and finance directors have much to gain from bundling treasury services if they can convince senior management that such offerings deliver value for money.
-
As mandated real-time payments loom, Europe’s banks and other payment providers must look at modernising legacy infrastructure.
-
The EU’s Instant Payments Regulation may have fired the starting gun on real-time payments in Europe, but many banks remain stuck in the blocks.
-
In a world of higher interest rates, economic uncertainties and data overload, corporate treasurers are turning to cutting-edge tools and strategies to predict and optimize their cash flows.
-
Many vendors believe corporate treasurers should be doing more to eliminate superfluous accounts, protect payment data and direct resources to improving paper-based processes.
-
Domestic companies launch banking-as-a-service models as the country's central bank creates space for new entrants.
-
Collaboration between national banks has seen widespread adoption of mobile payments schemes. The French and German-led approach of focusing on a single European scheme could therefore be seen as a distraction. But is it the only real way of keeping US payment companies at bay?
-
Implementing real-time payments can have consequences for corporates who underestimate the impact of cash leaving their business more quickly. Even as solutions become cheaper to implement, corporates are being cautious.
-
Strategic adjustments, such as those resulting from mergers or acquisitions, represent a valuable opportunity for corporates to enhance their payment infrastructure.
-
Siemens is anchor client for a new rules-based approach to banking.
-
Thailand wants to give almost every adult in the country money through a digital wallet. It’s an interesting step towards bringing digital finance to the mainstream.
-
Kenyan authorities have cleared Flutterwave of wrongdoing following an anti-money-laundering case in the East African nation. Nevertheless, industry confidence in the Africa-focused payments company remains mixed.
-
The overall use of cash will continue to fall, but the decline of bank branch networks means that businesses now face a headache in handling physical takings.
-
While the air at the Singapore Fintech Festival was full of grand ideas about GenAI, real innovation was taking place in the weeds of fintech development.
-
Banks say they are working hard to maintain an edge in an increasingly crowded and fragmented cross-border retail payments market.
-
It took five years for the invoice finance specialist Accelerated Payments to advance its first €1 billion, but just nine months for the next €500 million.
-
Transaction banks are collaborating with ERP system vendors and other fintechs to maximise corporate use cases for ISO 20022.
-
Corporate treasury expectations for on-demand financial information are yet to be addressed. The difficulty of gathering data from disparate systems should not be underestimated.
-
For decades, transaction banking was a profitable but largely ignored corner of the banking industry. Then Covid happened. Today, bank chiefs see it as critical to everything they do. Given the challenges ahead – collaborating with fintechs and embedding ESG principles in global supply chains – the revolution under way in this business is unstoppable.
-
Corporates appreciate the value of APIs when it comes to connectivity for services such as payment order transfers, cash balance updates and payment status updates. But a lack of uniform data standards continues to hinder their wider adoption.
-
Two new platforms show how India is building on top of its digital foundations.
-
Banks are calling for greater cooperation from regulators as they address demands for cheaper and faster cross-border payments.
-
With Apple set to take an even bigger bite out of UK in-person transaction volumes, rival providers of payment technology will be looking to up their game.
-
High interest rates and low bank appetite for risk have created the perfect conditions for a renaissance in invoice factoring.
-
The evolution of Brazil’s central bank payments programme could be good news for banks.
-
The big transaction banks are becoming increasingly active in the B2B marketplace as they seek to cash in on corporate digital transformation.
-
Business-to-business buy-now-pay-later providers are optimistic that economic uncertainty and higher interest rates will drive corporates to pay suppliers sooner and secure inventory more rapidly.
-
Patents are a high-profile demonstration of a bank’s commitment to innovation, but they are not the only option for those looking to encourage new ways of thinking.
-
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.
-
Acquisitions by Santander’s new global payments platform will focus on technology and talent, not consolidating legacy businesses, says PagoNxt chief executive Javier San Félix.
-
JPMorgan’s move into the in-vehicle payments market reflects the ever-growing impact of financial technology on the automotive industry.
-
The established banks have mixed feelings about the growth of buy-now-pay-later as they ponder new payment options that are undercutting lucrative credit-card transactions.
-
Widespread use of digital currencies will reshape the way liquidity is managed, but it will also force banks and corporates to move away from long-established practices.
-
The likely use of central bank digital currency for payments, in addition to stablecoins and altcoins, would suggest that reports of the demise of the correspondent banking model may be premature.
-
Societe Generale’s decision to launch a joint treasury management solution with Kyriba is just the latest example of banks and technology vendors collaborating to offer more sophisticated treasury functionality.
-
The US bank has launched the next generation of its global virtual account management solution to clients in the UK, Ireland and the Netherlands.
-
Various fraud prevention technologies are deployed across the payments industry, but there are still areas where technology is underutilized in combatting fraud related to cybercriminal attacks.
-
Newer data formats offer greater treasury efficiency, but geographical restrictions and limited standardization mean that many corporates remain reluctant to abandon older specifications.
-
Given the standardization and interoperability challenges facing digital letters of credit, could wider use of digital trade finance platforms accelerate the development of alternative solutions?
-
Wider adoption of digital letters of credit is being held back by limited standardization and lack of interoperability.
-
HSBC’s new global wallet offering is the latest in a line of services enabling businesses to make and receive international payments from a single account.
-
Most open-banking solutions introduced to date have been focused on retail users, but the pandemic is driving demand from corporates for new application initiatives.
-
Fnality applies for a DLT-based sterling payment system pointing the way to faster and more resilient decentralized financial market infrastructure.
-
JPMorgan’s blockchain units have launched a new validation solution called Confirm. It is another small step towards mainstream use of the technology in payments.
-
As economies return to something approaching normal, corporates will ramp up their focus on areas such as treasury digitalization and optimization – as well as demanding more support from their banks.
-
A lack of standardization, together with patchy appreciation of its potential, means open banking continues to struggle to gain traction in many regions.
-
The dinosaurs of the banking world have recognised the threat from crypto. While there is no simple choice yet for fast and cheap cross-border payments, near instant domestic payments are the new reality.
-
More companies are preparing to accept payment in crypto as the number of customers with digital wallets swells. But a confusing proliferation of payment methods means that innovation has made collecting payments harder, not easier.
-
Data provides quantification into central but opaque market trend; PayU plans to add credit services to clients’ customers at check-out.
-
The fintech’s fast growth highlights the large banks’ inability to adapt their technology to provide basic finance to small businesses.
-
Treasurers have relied on traditional skills to navigate the circumstances they have faced over the past nine months. Changes forced by the pandemic will impact the way they, and their entire organizations, work in the future.
-
The pan-European payments initiative benefits from links to many of Europe’s largest banks – and has fintech in its sights.
-
Many corporates remain wary of virtual accounts – so what should treasurers be looking for when considering their options?
-
Despite their benefits, virtual bank accounts have failed to gain traction with the world’s largest corporations.
-
With the launch of new blockchain and digital currency business Onyx, JPMorgan hasn’t let Covid delay new ideas; in fact, the crisis has helped. Two years after a structural change in treasury services, the bank has updated its ambitions.
-
Open banking is making direct bank-to-bank customer payment transfers easier in the ecommerce world and is set to reduce the role of credit cards.
-
Brazil’s fintechs and digital challenger banks are making more ground than traditional firms with the central bank’s new payments system.
-
As a Swiss consortium completes a wholesale central bank digital currency proof-of-concept, is the payments industry ready for CBDCs?
-
New entrants proposing closed-loop systems that short-circuit traditional approaches represent an existential threat that transaction bankers cannot ignore.
-
Initiatives to collaborate on financial crime in the payments space continue to be hindered by poor data and compliance systems.
-
Brazil’s central bank launches a free instant-payments tool.
-
The payment industry’s ability to withstand the disruption caused by the coronavirus suggests that lessons learned from previous outbreaks have served the industry well.
-
The disruption caused by coronavirus has accelerated the move towards automated accounts payable processes as corporates seek an accurate and real-time view of their cash position.
-
The G20 has called for renewed efforts to enhance slow and costly international payments. The founder of Worldpay and ClearBank may have the answer.
-
For businesses trying to sell more on customers’ mobiles, the challenge of integrating proliferating payment channels is a growing headache.
-
Banks are offering corporate mobile wallet solutions, but cultural nuances and authorization processes remain potential barriers to large-scale adoption.
-
Scarred by the lockdown, suppliers now want payment upfront while customers demand extended terms: a problem is brewing in B2B payments and receivables.
-
A trend that was already under way is set to accelerate as companies realise the importance of better oversight of day-to-day financials.
-
The partnership will boost Alipay’s control of money flowing into China and increase its status abroad.
-
Cross-border instant payments gain traction, although the trend is not moving fast enough, say industry experts.
-
The ridesharing company’s foray into financial services is a questionable decision given the company’s dismal financial results.
-
The political and regulatory backlash has driven leading payments companies out of the Libra association, but a new version of the revolutionary stablecoin may yet appear.
-
The delay in the introduction of strong customer authentication under the second EU Payments Services Directive has not been universally welcomed, but it represents a valuable opportunity to make consumers more security-aware.
-
Automation and artificial intelligence are transforming the payments industry into one of the most dynamic sectors of transaction banking. But there are still many teething problems in an industry that has been catapulted onto centre stage.
-
Consolidation is due in the fintech payments sector as new specialized companies begin to build scale.
-
A recent survey states 92% of financial decision-makers have admitted to paying their suppliers late, but there are tech solutions to some of these issues – and it's about time they were adopted.
-
Data security company Krypti claims the microtoken exchange security system used in its new digital wallet for storing bitcoin and other cryptocurrencies offers the most sophisticated protection against hackers on the market.
-
The argument that India will be the first cashless society doesn’t take into account the country’s most vulnerable people and the cultural attachment to cash.
-
A new strong customer authentication (SCA) regulation being introduced in September will change the payments landscape for online merchants amid a race for the most frictionless customer experience.
-
Having tested HSBC FX Everywhere on internal payments, the bank now aims to provide it as a platform service to clients.
-
From payments to full retail banking services, tech companies are encroaching on the banking space.
-
In Africa, digital payments are still the future, not the present.
-
CLSNet – a new payments netting service for FX trades – aims to reduce costs and increase liquidity for market participants.
-
Biometrics will help online retailers protect themselves from fraud – but maintaining customer experience at the same time may be a challenge.
-
Banks with large wholesale payments and cash management operations must innovate to avoid being ousted by disruptors.
-
The multiple access points for payments platforms in the UK have been brought together under one new operator
-
China appears to be opening up to the idea of a wider range of payments options. Before overseas companies look to dive in, they need to make sure they are keeping on the right side of the regulator.
-
Corporates are now refocusing their efforts on internal fraud as well as external threats of cybercrime, following some high-profile cases.
-
Domestic real-time payments are spreading as more countries adopt the technology, but the move to international, cross-currency payments is still some time off.
-
For years, much of the hype in payments has been around mobile payments and blockchain technology. But the innovation that has done the most to change British shopping habits has been contactless cards, which launched in 2007 but have really come of age in recent years.