Making payments is the inevitable consequence of making purchases and an essential and integral part of the financial supply chain. A payment is the transfer of value from one party, a person or…
Read moreby Kylene Casanova
Citi's announcement that they are now processing 1 million XML transaction each month is an important illustration of the speed at which XML usage is growing. Cit's million/month is made up of payment messages - a m
by Kylene Casanova
Many billions (USD, EUR, RMB) are lost each year in mis-payments and over payments by accounts payable departments world-wide. The large majority of these losses are not fraud; it is the administrative errors. It is
by Kylene Casanova
Citi Transaction Services has reached a significant milestone of consistently processing more than one million payment transactions per month using the ISO 20022 XML schemas. This validates the increasing adoption o
by Kylene Casanova
The UK Payments Council's clearing statistics for 2012 show that a revolution is happening in the UK payments landscape:
by Kylene Casanova
Section 1073 requires transparency on all potential fees and taxes, foreign exchange (FX) rates, fund delivery times before payments are initiated, and shifts error liability from the consumer to the institution.
by Kylene Casanova
Citi, through its transaction services unit, is launching a commercial card offering in Kuwait to its local large corporate and multinational clients. With Kuwait added to the list of issuing countries, Citi Commerc
by Kylene Casanova
The problem with Business-to-Business (B2B) payments is that to achieve full automation and STP there needs to be general ledger (GL) to GL integration plus much more information about the order, invoice and receipt
by Kylene Casanova
Although there has been a move to other currencies in the past 10 years, much of the Asia-Pacific's trade, including intra-regional flows, is still invoiced, and settled in USD. And some are settled in EUR.
by Kylene Casanova
Centralizing and standardising payroll payments is not easy, legislation in most countries requires payments to be made from a local bank account and also many companies use a payroll processor to manage and adminis
by Kylene Casanova
Cambridge Mercantile Group, a global payment services' provider with offices world-wide, have launched a new platform, Automated Payables Solutions (APS), which will help corporations move from cheques to electronic
by Kylene Casanova
The UK's Faster Payments Service was introduced in 2008 with a focus on personal payments and standing orders. The ACH based system, which clears and settles within a couple of hours (and normally much less), proces
by Kylene Casanova
The latest World Payments Report from CAPgemini, RBS and EFMA is another tour de force with amazing range and depth of analysis. The key findings are mostly expected:
by Kylene Casanova
The vast majority (77%) of Chinese corporates surveyed expect one-third of all Chinese trade (circa USD 2trn) to be conducted in RMB by 2015 (vs 10% YTD) and 30% plan to use RMB for investment-related purposes in th
by Kylene Casanova
RBS has brought together several of their existing FX and payment services into the new GlobalXChange service(GXC) which offers a single account solution for all payables and receivable regardless of currency:
by Kylene Casanova
Citi has launched Citi® Payment Exchange, an integrated and flexible payment processing solution. Corporate clients can utilize the customized Citi Payment Exchange portal to implement the working capital strategies
by Kylene Casanova
Citi China announced today the launch of its commercial cards programme in China by its Citi Transaction Services division, making it the first global bank to offer such capabilities to its large corporate and multi
by Kylene Casanova
FIS™ (FIS), the world's largest provider of banking and payments technology, today announced the launch of PayNet™, the industry's first global real-time payments network for domestic and international money movemen
by Kylene Casanova
The new CashFac's A2Pay service uses their Virtual Bank Technology® with a brand new real time user interaction for buyers and suppliers to provide a collaborative settlement platform which does not conflict with ei
by Kylene Casanova
Antti Kyyrö, Financial Markets, Nokia Siemens Networks Treasury, in an simple and important presentation described the range of automated solutions they have adopted for local FX conversions.
by Kylene Casanova
Finnish e-procurement and e-invoicing software company Basware has been selected by Huf Hülsbeck & Fürst (Huf), a German company within the automotive industry, for its AP automation and e-invoicing services powered
by Kylene Casanova
MoneyGram (MGI), a leading global money transfer company announced today it is entering Bosnia and Herzegovina, the second-largest send and receive remittance market in Eastern Europe,
by Kylene Casanova
Azimo is offering a new international money transfer service with cheaper prices than high street banks and large competitors by cutting out middlemen. It provides an easy way to transfer funds to friends and family
by Kylene Casanova
The ‘E-invoicing market guide 2012’ from The Paypers builds on the success of the previous year’s edition. It brings together the most complete and up-to-date overview of the global e-invoicing ecosystem, mapping ou
by Kylene Casanova
HSBC India has executed the first renminbi (RMB) denominated cross-border trade transaction in India for a major pharmaceuticals company, and said that the transaction had seen the bank join a growing list of HSBC e
