South State Correspondent

AUGUST 10, 2023

When banks talk about a “sidecar,” they speak about a modern, lightweight, real-time core system alongside a traditional core. In this article, we argue why banks should consider a modern core system in the form of a sidecar as part of their long-term strategy. This information is then pushed out to each ancillary system.

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PYMNTS

JANUARY 11, 2021

Pakistan has debuted a government-run instant digital payment system to help with financial inclusion and government revenue, Reuters reports. The new system is called "Raast," or "direct way," and will be rolled out in three phases culminating in early 2022, according to the news outlet.

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PYMNTS

JULY 1, 2020

A group of big European banks is planning to challenge Visa ’s and Mastercard ’s positions as the world’s two largest payment processing networks, Electronic Payments International reported. . The initiative was later abandoned amid opposition from the European Commission, the executive branch of the European Union (EU).

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PYMNTS

JUNE 19, 2020

The Bank of Thailand plans to work on a new payment system for businesses using Central Bank Digital Currency (CBDC), according to a press release , which will be a step toward readying the business sector for the digital age. The release says the step will help CBDC reach wider audiences, beginning with corporate entities.

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Gonzobanker

MAY 23, 2024

It’s “leave your emotions at the door” time when making a core system decision. Every financial institution needs to get real, tangible returns on every technology investment it makes, and core systems are a critical piece in increasing or hurting these returns. Do We Modernize or Optimize the Existing Core ?

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Payments Dive

MARCH 23, 2023

Companies partnering with the Federal Reserve to test the real-time payments system see it as a way to draw customers and get an edge on rivals.

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PYMNTS

MAY 18, 2020

Japan-based credit card and payment firm JCB has announced a partnership with tech startup accelerator TECHFUND to explore the idea of a payment system with blockchain options, the company said on Friday (May 15). based Paystand for a B2B payments system. American Express uses blockchain for its rewards program.

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Payments Dive

DECEMBER 1, 2022

The card company is adding to its product line-up in an attempt to cater to small businesses as they try to recover from COVID-19 pandemic lows and face inflationary pressures.

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Payments Dive

JULY 14, 2022

real-time payments system next year in the form of FedNow, but it’s an open question as to whether, or how, consumers and businesses will adopt instant payments. The Federal Reserve plans to unleash a U.S.

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Bank Innovation

DECEMBER 19, 2019

The Federal Reserve is investigating the second significant disruption in 2019 of a payments service administered by the U.S. Certain bank transactions were delayed after ACH — which stands for the automated clearinghouse system — experienced delays but it is now up and running. central bank.

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PYMNTS

FEBRUARY 1, 2021

healthcare system is lauded for providing the best, most advanced care in the world, when it comes to the payments practices being used with much of that industry, honorable mention might be a more fitting rank. And the active treatment plan is the digitization of payments and card on file by now. Although the U.S. Do Like Uber.

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Bank Innovation

NOVEMBER 22, 2017

Norwegian banks are coming together to merge their payments. According to Reuters, the purpose behind this merger is to combat competition from global payment companies, perhaps ones like PayPal or Square Cash to name a few.

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Payments Dive

FEBRUARY 22, 2024

The head of the OCC called on Congress to replace the current state-by-state money transmitter licensing system for payments companies with a federal regulatory framework.

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Payments Dive

MARCH 14, 2024

The federal real-time payments system may spool up slowly, but it could ultimately transform U.S. cross-border payments, ACI Worldwide's CEO predicted.

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BankInovation

MAY 1, 2024

EverBank has selected payment and financial solutions provider Finzly to update its payment processing system, according to an April 18 release. billion, Jacksonville, Fla.-based

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Bank Innovation

NOVEMBER 14, 2017

The real-time payments system created by The Clearing House, owned by U.S. BNY Mellon and US Bank carried out the first transaction of the RTP (short for real-time payments) network at approximately 5pm yesterday, moving $3.50 banks, is officially up and running as of yesterday, according to the banks.

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Payments Dive

OCTOBER 23, 2023

“Increasingly, government agencies — and the people they serve — need a payments system that is connected across departments and jurisdictions,” writes one payments executive.

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PYMNTS

DECEMBER 16, 2019

central bank to consider modeling FedNow after the Unified Payments Interface (UPI) framework used in India, The Economic Times (ET) reported on Sunday (Dec. FedNow is the new interbank real-time gross settlement (RTGS) service that will offer integrated clearing functionality for faster digital payments. billion now. billion in 2019.

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PYMNTS

AUGUST 5, 2019

The Federal Reserve has officially announced it will create a real-time payments service, to be called FedNow. The move was described by Kansas Federal Reserve President Esther George as the biggest infrastructure upgrade embraced by the Federal Reserve since the ACH system went online in 1972.

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Abrigo

AUGUST 28, 2022

Develop a credit risk rating system. Having an internally developed risk rating system is common. For banks and credit unions, a popular tool to monitor credit risk is a standardized risk rating system, which can serve several purposes. Many institutions use a nine-grade system , though five to ten total ratings is acceptable.

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Payments Dive

MARCH 11, 2022

and EU payment infrastructures, the country is pivoting to alternatives such as China's UnionPay card system and other channels that may take its trade and commerce through China. With Russia shut out of U.S.

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Payments Dive

JULY 17, 2020

Public transit systems are speeding up their efforts to promote contactless travel as the COVID-19 pandemic has devastated ridership and revenue on many of these systems.

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Payments Dive

DECEMBER 13, 2023

The jury verdict in favor of Epic Games challenges the Google Play app store model that forces payments through its system, with fees up to 30% on sales.

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Payments Dive

JANUARY 26, 2024

Apple plans to give software developers the option to use third-party payment systems, but warned that the change will expose consumers to new threats.

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Payments Dive

AUGUST 3, 2022

Healthcare and peer-to-peer payments also rose during the quarter over last year, the clearing house that runs the national automated system said.

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PYMNTS

FEBRUARY 3, 2020

Ajay Banga, the chief executive officer (CEO) of Mastercard, is adamantly against any attempts to fracture the Global Payments Systems (GPS) into national domains, Financial Times (FT) reported on Sunday (Feb. Privacy-weary consumers could return to cash if governments push in the direction of nationalization of payments, Banga warned.

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Payments Dive

APRIL 12, 2023

The bureau's chief, Rohit Chopra, urged users who maintain balances on their digital wallets and money-transfer apps to move that uninsured money to a bank account.

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PYMNTS

NOVEMBER 27, 2019

Russia is partnering with PayXpert to test its national payment system MIR in London, RT.com reported on Wednesday (Nov. will be the first country where the system will operate, and PayXpert will become the “unique acquirer” of MIR cards in Europe, the report noted. businesses to the MIR payment network. sanctions.

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Payments Dive

MARCH 12, 2024

The digital payments company will power website and app-based reservations for the car rental business, along with providing a point-of-sale system.

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PYMNTS

OCTOBER 19, 2020

Entrust , an identities, payments and data protection firm based in Minneapolis, on Monday (Oct. The Entrust website describes the company as “the leader in credit card production systems.” According to a press release , Sigma provides “a secure, cloud-based, direct-to-card ID desktop issuance solution.”.

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PYMNTS

SEPTEMBER 17, 2020

The Verge reported that the court documents from Apple said Epic "started a fire, and poured gasoline on it, and now asks this Court for emergency assistance in putting it out" when it broke Apple's rules and made an in-game payment option for the Fortnite game. That had the effect of undercutting Apple's profits.

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Tomorrow's Transactions

MAY 15, 2024

As someone who has witnessed the evolution of payment systems in both countries, the contrasts between my birthplace, India, and my current residence, the US, are… Continue reading Coining Connections in India and US Payment Systems The post Coining Connections in India and US Payment Systems first appeared on Consult Hyperion.

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PYMNTS

JULY 19, 2020

Equity crowdfunding program Equifund CFP is launching a Regulation Crowfunding offering to help cannabis tech company Drop Delivery raise money for its all-in-one delivery system for cannabis products, according to a press release.

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PYMNTS

JULY 1, 2020

B2B payments account for $25 trillion in the United States each year, but these transactions are often fraught with frustrations and challenges. days to settle , a pace that is largely due to the business world’s lingering reliance on analog payment methods like paper checks. Studies have found that B2B invoices take an average of 37.4

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PYMNTS

NOVEMBER 19, 2020

Securities and Exchange Commission (SEC) Chairman Jay Clayton thinks inefficiencies in traditional payments are boosting favorability for bitcoin, a report from Coindesk says. Clayton, speaking on CNBC, said bitcoin's popularity came from that disappointment in mainstream payments.

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PYMNTS

NOVEMBER 26, 2018

Cubic Corporation announced Monday (November 26) that its Cubic Transportation Systems unit and Transport for New South Wales will expand the contactless payment system to cover Sydney’s train network. The project began with a trial on the Manly ferry in 2017.

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Payments Dive

MAY 31, 2024

The card issuer joins its tech and payments peers in integrating crypto into the traditional financial system.

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