SWIFT, the financial messaging and payment company based in Belgium, is developing a global network for facilitating cross-border bank account based payments with 73 financial institutions already on board. Trials for B2B payments are already underway, including a portal for tracking when payments are confirmed and cleared. The participating banks account for 75 percent of
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In early December the Electronic Payments Association, alternatively known as NACHA, released more details on their proposal for a same-day ACH payments system while issuing a request for comments submitted by early February. Meanwhile the Federal Reserve is providing a multiyear roadmap for facilitating real-time payments and The Clearing House, a trade group representing large
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