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Payments development: non-stop innovation worldwide

The turbulent development of payment systems around the world continues:

  • Preventing Chargebacks: VERIFI launches Cardholder Services Dispute Resolution for Chargebacks to quickly resolve fraud and non-fraud billing inquiries, and avoid the cost of chargebacks: 
    • Source & Copyright©2017 - VERIFI
  • P2P payment services added to message systems:
    • Facebook Messenger launches P2P payments in the UK:
    • Apple Pay Cash launches P2P platform in Beta
  • Country adoption of instant payments systems continues:
    • SWIFT is to provide the Hong Kong financial community with an enterprise messaging and gateway solution to the Hong Kong Faster Payments System (FPS) that aims to go live in September 2018 
    • ACI WORLDWIDE European SCT Inst gateway now provides access to all instant payments schemes in europe
    • Users of EBA CLEARING's RT1 instant payment system will be able to access the platform via SWIFT's SWIFTNet Instant solution from November 2018. SWIFT says it will address all RT1 customer requirements, including instant messaging, file transfers and a browse solution
  • SWIFT GPI rollout continues:
    • 3 major Thai banks, Bangkok Bank, Kasikorn Bank, and Siam Commercial Bank implementing GPI
    • over 120 banks around the globe that are now live or planning to implement SWIFT's Global Payments Innovation
  • Adyen multi-rail payment coverage growth continues:
    • Australia) eftpos has announced that  the US-based payment technology firm, Adyen "had completed its connection to the eftpos payments network and could now offer Australian merchants the ability to accept eftpos CHQ and SAV transactions at Point of Sale (POS)
  • March of the Alipay and WeChat payment system continues:
    • Alipay and WeChat take 90% mobile payments market (which is 50 times that of the USA)
    • Alipay has been installed in Value Retail - the operator of the Collection Villages world-wide 
    • North American Bancard now offers Alipay across its processing platform

CTMfile take: Corporate treasury and accounts departments will need to work out how to use these developments to improve their A/R and A/P processes. Also not being able to accept payments from Alipay and WeChat could be losing your company serious amounts of income.

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This item appears in the following sections:
Payments - Receipts
Accounts Receivable Management
Billing Systems & e-Invoicing
Payments - Receipts at POS
Collecting Payments on the Internet
Collecting Payments via Mobile
Payments - Disbursements
Accounts Payable Management
Urgent/Instant .Payments

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