Real-time payment initiatives are gaining traction, driven by new technological developments, customer expectations and evolving regulatory requirements. A growing number of countries in regions across the globe have implemented, or are planning to implement, their own systems to facilitate instant domestic transactions.
In FX-MM, Ross Jones, Product Line Manager, Global Payments, Treasury Services, BNY Mellon discusses the fast-moving real-time payments environment and how technology is fueling an overhaul of the way in which we transact. In particular, he considers initiatives by the US and Australia, and how the ISO 20022 global standard format and messaging system behind most of the newest real-time initiatives could help to facilitate real-time cross-border payments.
To read the full article in FX-MM’s Digital April edition, please click here. (Please note, free subscription required)