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Category: Faster Payments

Faster Payments

Benefits of Real Time Payments

Akhil Rao has shared some insights on the adoption benefits of Real Time Payments (RTP). The ability to make payments in real-time comes with a number of capabilities and benefits. The most appealing of these to organizations is immediate access to receiving funds, transaction status, and control of cash flow. These assets created by RTP all serve to increase visibility into […]

Faster Payments

Saudi Central Bank (SAMA) launches an instant payment system ‘sarie’

On Saturday the Saudi Central Bank (SAMA) launched an instant payment system ‘sarie’ . It comes as part of a series of SAMA-led initiatives to promote the national payments’ ecosystem and to enhance its infrastructure, aiming to achieve financial inclusion. Customers can send and receive low-value local transactions around the clock and for a low fee, not exceeding one riyal. The system […]

Faster Payments

Perceptions of Consumer Protections in Payments

Pay.UK have published summary findings from primary research exploring perceptions of consumer protections in payments. The research explored a range of topics, including consumer understanding of payment behaviours; the role of protections; usage and attitude to Faster Payments; and perceptions and gaps in payment protections. Whilst the issue of fraud and APP scams are critical in today’s world, fraud was […]

Faster Payments

Vocalink wins Canadian clearing and settlement system contract

Mastercard’s Vocalink has won the contract to build the clearing and settlement infrastructure for Canada’s new real-time payments system. The decision comes more than 18 months after Payments Canada first picked Italian provider SIA over Vocalink and CGI for the contract. The three rivals had made a 2017 shortlist of bidders to help develop the country’s new ‘Real-Time Rail (RTR), […]

Faster Payments

Authorised Push Payment (APP) Fraud: Contingent Reimbursement Model

The Lending Standards Board is consulting on how well measures for protecting consumers and refunding the victims of scams are working and have published a consultation document.  Review of the Contingent Reimbursement Model Code for Authorised Push Payment Scams. The Contingent Reimbursement Model (CRM) Code was launched on 28 May 2019. The voluntary code sets out good industry practice for […]

Faster Payments

Faster Payments – the UK’s Instant Payment scheme

How much do you know about the UK’s Faster Payments scheme? Data source: Pay.UK In Thursday’s edition of the ‘Payments, Payments, Payments’ newsletter we will be exploring the UK’s instant payment scheme – Faster Payments. Don’t miss out: Read, Subscribe and share at: Thursday’s newsletter is a subscriber edition – use this free 7 day trial link to get […]