Enhance your understanding of retail and commercial payment systems outside the U.S. and learn how the rest of the world has implemented ACH, funds transfer, and check systems. This session focuses on important national payment systems in different countries throughout the world and their distinguishing characteristics – a must for any institution that wants to know more about non-U.S. payment systems. We will also cover the evolving environment for “ACH” payments outside the U.S. and talk about what’s taking place – identifying some of the organizations involved in cross-border “ACH” payment services.
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
Will Digital Currencies Break The Banking System? Harsh Chitroda
So, when we ask a question of how will digital currency affect banks? So, we can say that Digital currencies are likely to give central banks more insight into the movement of money in the economy. The widespread use of electronic payment systems may also aid authorities to crack down on money-laundering and terrorist-financing efforts. Or on the other hand, we can also say that the Banks are afraid because Cryptocurrency exchange is a non-banking transaction. and if the Cryptos gain favours it can disrupt the ability of banks to create money. If this disruption alarms the central banks, then they will do something about it.
EPS system explanation, How EPS System works in real world, Model of E- Payments, Security concerns related to EPS systems, Case study of paytm related to electronic payment
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
Will Digital Currencies Break The Banking System? Harsh Chitroda
So, when we ask a question of how will digital currency affect banks? So, we can say that Digital currencies are likely to give central banks more insight into the movement of money in the economy. The widespread use of electronic payment systems may also aid authorities to crack down on money-laundering and terrorist-financing efforts. Or on the other hand, we can also say that the Banks are afraid because Cryptocurrency exchange is a non-banking transaction. and if the Cryptos gain favours it can disrupt the ability of banks to create money. If this disruption alarms the central banks, then they will do something about it.
EPS system explanation, How EPS System works in real world, Model of E- Payments, Security concerns related to EPS systems, Case study of paytm related to electronic payment
As more and more transactions go digital, or plastic so to say, we look towards the future with a model that does away with currency notes and coins altogether and yet keeps alive the essential principle that money serves, without attaching any tangibility to it.
Analyzing different countries perspective on cryptocurrency and what is India's take on it as RBI is currently planning to introduce a law to ban cryptocurrency trading..
This report summarizes how Innovative technologies are disrupting the financial industry and how organizations can leverage them to their advantage.
It is a must read for senior executives in banks and other financial service providers (FSPs).
Fintech and Transformation of the Financial Services IndustryRobin Teigland
Slides from our FinTech day as part of the Entrepreneurship & Innovation Concentration in the Stockholm School of Economics Exec MBA program in Stockholm, Sweden.
The Reserve Bank of India has proposed major reforms in banking sector with issue of guidelines for setting up “Small and Payment Banks” which will cater to marginalized sections of the Society, including migrant laborers, for collecting deposits and remitting funds.
These banks will provide a whole suite of basic banking products such as deposits and supply of credit, but in a limited area of operation. The payments banks will offer a limited range of products such as acceptance of demand deposits and remittances of funds. They will have a widespread network of access points particularly in remote areas, either through their own branch network or through Business Correspondents (BCs)/agents or through networks provided by others.
Ripple’s distributed financial technology allows for banks around the world to directly transact with each other without the need for a central counterparty or correspondent.
CoinDesk reveals the key trends, challenges, and opportunities for bitcoin and blockchain technology in 2016.
Reports are available to download for those who are signed up to our research list.
Sign up here: http://www.coindesk.com/newsletter/
Buy our research on the banks and the blockchain here: http://www.coindesk.com/research/banks-blockchain-report/
Get in touch via research@coindesk.com if you'd like to partner with research in the future.
As more and more transactions go digital, or plastic so to say, we look towards the future with a model that does away with currency notes and coins altogether and yet keeps alive the essential principle that money serves, without attaching any tangibility to it.
Analyzing different countries perspective on cryptocurrency and what is India's take on it as RBI is currently planning to introduce a law to ban cryptocurrency trading..
This report summarizes how Innovative technologies are disrupting the financial industry and how organizations can leverage them to their advantage.
It is a must read for senior executives in banks and other financial service providers (FSPs).
Fintech and Transformation of the Financial Services IndustryRobin Teigland
Slides from our FinTech day as part of the Entrepreneurship & Innovation Concentration in the Stockholm School of Economics Exec MBA program in Stockholm, Sweden.
The Reserve Bank of India has proposed major reforms in banking sector with issue of guidelines for setting up “Small and Payment Banks” which will cater to marginalized sections of the Society, including migrant laborers, for collecting deposits and remitting funds.
These banks will provide a whole suite of basic banking products such as deposits and supply of credit, but in a limited area of operation. The payments banks will offer a limited range of products such as acceptance of demand deposits and remittances of funds. They will have a widespread network of access points particularly in remote areas, either through their own branch network or through Business Correspondents (BCs)/agents or through networks provided by others.
Ripple’s distributed financial technology allows for banks around the world to directly transact with each other without the need for a central counterparty or correspondent.
CoinDesk reveals the key trends, challenges, and opportunities for bitcoin and blockchain technology in 2016.
Reports are available to download for those who are signed up to our research list.
Sign up here: http://www.coindesk.com/newsletter/
Buy our research on the banks and the blockchain here: http://www.coindesk.com/research/banks-blockchain-report/
Get in touch via research@coindesk.com if you'd like to partner with research in the future.
With the unpredictable economic environment and the importance of cash and liquidity on the corporate agenda, finance executives are evaluating the effectiveness of current operations across payables and receivables. Many companies are turning to payment factories to deliver value across the entire organization.
Presentation from Women in Payments Symposium.
Banks are architecting their internal systems around ISO 20022. Multinationals are requesting ISO 20022 as part of their RFP process. Even countries are building new payment market infrastructures on ISO 20022. But ISO 20022 isn’t exclusive to just large players. Businesses and banks of all sizes can realize the benefits. Learn what is ISO 20022, and why is it being adopted around the globe. This session will provide practical insights to take back to your organizations.
Presentation at 2015 Association for Financial Professionals (AFP) Annual Conference.
As global organizations use diverse technologies to improve payment efficiency, the SEPA mandate has propelled the use of ISO20022 XML to the international forefront. In this session, attendees will learn how Bayer leveraged their European processing acumen to streamline domestic payments in the US and their future direction with this expanding technology. Speakers provide an overview of the ISO20022 standard, its adoption globally and the forces driving change in the US. They offer insights into navigating the challenges of migrating from traditional payment methods and how the ISO20022 XML standard can deliver value to companies.
2012 NY Cash Exchange: Take Charge of Your Social Brand! Leverage Social Medi...Nasreen Quibria
In this digital age, social media is becoming critical to career advancement. Professionals are using tools like LinkedIn, Facebook, and Twitter to connect directly with companies and recruiters, while engaging with peers for increased credibility, visibility, and thought leadership. At the same time, leading companies are leveraging social media channels to gain competitive advantage. This session will discuss how to capitalize on social media to develop your professional brand, avoid pitfalls that can lead to reputational damage, and develop strategic moves for creating your own marketing vehicle to further your career.
Data & Dollars Delivery: NACHA’s Roadmap for XML in the ACHNasreen Quibria
The growth trajectory of Extensible Markup Language (XML) in the supply chain is driving processing efficiencies, with the notable exception of the payments enterprise, where U.S. businesses now re-associate 13 billion remittances each month through costly and inconsistent processes. The expanding usage of XML in core banking infrastructure means that a standard approach to XML in the ACH is an opportunity to promote greater exchange of electronic payment remittances for all sizes of businesses. This presentation provides NACHA’s roadmap for using XML in the ACH and discusses stakeholder recommendations for leveraging the ACH Network so business can improve their payables and receivables processes.
2015 NACHA Presentation - ACH Network Roadmap for ISO 20022Nasreen Quibria
ISO 20022 is emerging as the de facto financial messaging standard for payments and related functions, and numerous companies, and even countries, have implemented ISO 20022 payment functionality. The U.S. ACH Network currently supports usage of ISO 20022 payment remittance messages, and NACHA is defining pathways for greater support of ISO 20022 in the Network. This session focuses on the NACHA rules and tools for using and integrating ISO 20022 messages for ACH payments, including expanded reference documentation for payment remittance, and mapping guidelines for translating ISO 20022 payment instructions into ACH payments.
Change is a constant and new payment initiatives are being constantly tested in the market. It is difficult to sift through what’s taking place. Are we are simply experiencing a fast evolution of payment initiation and clearing schemes or is there a revolution of potentially new settlement mechanisms taking place? This webinar looks at different alternative payment models, current non-bank initiatives that are up-ending the landscape, and more – delving into the new players and some of the “hot topic” initiatives that are being vetted in the marketplace.
Automation of business-to-business (B2B) payments continues to remain elusive. While checks are stubbornly pervasive, there is promising news in the vision for processing data and dollars among business partners. This session will detail NACHA and other industry organizations’ initiatives leading the way in facilitating the move from paper instruments to electronic payments by mid-sized and smaller businesses. Learn about opportunities for electronic disruption and where financial institutions might begin to gain traction in B2B ACH payments.
Fraud on the Rise: How Corporates Can Fight Back (2009)Nasreen Quibria
2009 Association for Financial Professionals Webinar:
Against the backdrop of deteriorating financial conditions, especially in the second half of 2008, a significant number of organizations were subject to payments fraud attempts. Hear the findings of the 2009 AFP Payments Fraud & Control Survey. Learn about real-life fraud attempts, the counter-measures that corporate practitioners are taking, and the diligence that must still be utilized to guard against check, ACH and card payments fraud.
Combating Payments Fraud: How Well Are You Managing Your Company's Risk?Nasreen Quibria
Payments fraud incidents are increasing in frequency and severity every day. Combined with more stringent global regulatory requirements and increasing payments volumes, corporations today are challenged with combating emerging payments fraud activities. This session will discuss fraud trends impacting businesses, best practices in mitigating risk, and the tools to have in your arsenal in fighting fraudulent payment activities.
White Paper: Key Compliance Challenges in Cross-Border PaymentsPayoneer
Businesses initiating cross-border payments are subject to multiple payment regulations in both the originating country and the country in which they land.
The costs of non-compliance can be severe, including failed payments, fines, reputational damage and in severe cases, imprisonment.
In this white paper you'll learn:
About cross-border regulations and why should you care
What local regulations and bodies you should know about
How to adopt a risk-based approach in order to be compliant
What to include in your Risk & Compliance Program checklist
B2B Payments in the Networked Age: How to Reduce Risk, Improve Communication,...SAP Ariba
"While innovation abounds in the consumer world, the most recent true innovation in B2B payment was introduced the same year as the Betamax videotape (1975) using the same IBM patented technology as the 1960's Bat-computer. With more than 50 percent of U.S. payments being made by check, and electronic B2B payment methods that contain too little information, businesses struggle with the consequences of a payment system that is opaque, complex, risky, and disconnected from their core payables and P2P processes. In the Networked Economy of the 21st century, this should not be so and B2B payments are ripe for needed change.
In this session, you will hear from industry experts and Ariba customers about how AribaPay (Ariba's groundbreaking B2B payment solution) is changing the game by:
• Removing the need for companies to capture, manage, and maintain vendor bank information inside their ERP
• Integrating payment directly into the P2P process
• Delivering rich remittance and track and trace payment visibility to suppliers
• Virtually eliminating payment risk and the need to field supplier inquiries
• Supercharging P2P supplier enablement efforts"
ACH, or Automated Clearing House, payments move money electronically from one bank account to another. Setting up your business to accept ACH payments gives you an alternative to credit cards, cash or checks.
The New Payments Platform: Fast-Forward to the FutureCognizant
Today's bank customers demand digital payment instruments that support real-time payments and settlements. While banks worldwide have adopted this concept, Australia's New Payments Platform (NPP), when contrasted with global models, takes this concept a step further with benefits that include all of the features today's bank customers want, such as 24x7x365 availability; real-time settlement, posting in seconds, premier messaging standards and alternate identifiers. It is thus imperative to build a carefully planned, all-inclusive NPP solution that will remain viable, profitable, efficient and serviceable from internal, regulatory, payments and customer perspectives alike.
Cross-border Remittance Solution for Business to Business (B2B)Varun Mittal
This Proof of Concept illustrates how innovation is providing cost-efficient and speedy cross border remittance for businesses that also serve as a payment solution for eCommerce merchants, in turn increasing transaction volume and customer acquisition rate.
A primer and overview of Open Banking, also known as Payment Service Directive 2 or PSD2, which went into effect in the UK on 13 January 2018. Produced by Digital Ventures, the Fintech arm of Siam Commercial Bank. Credit to Nat Wittayatanaseth for the research.
Payment Network International is a international payment processor. Please enjoy our short company presentation, should you have any question please email info@pni.com.au
Lekcija: Maksājumu instrumenti un maksājumu sistēmas pasaulē un LatvijāLatvijas Banka
Prezentācija izmantota Latvijas Bankas vieslekcijās Latvijas Universitātē 2017. gada 7. martā.
Saturs:
• Kur “dzīvo” maksājumi – maksājumu vide;
• Kāda tā ir Latvijā?
• Maksājumu instrumenti;
• Attīstības tendences.
A Solution to Eliminate Predatory Lending. The Digital Reserve's vision is the creation of a decentralized financial institution that can begin resolving the $2 Trillion dollars in unmet financing need. This is accomplished through increasing financial access through a sustainable and profitable financial ecosystem.
Think Global, Act Local: Global Payments Strategies for Digital BusinessesVindicia
“Think global, act local” is easier said than done when running a digital business across borders. This webinar discusses the pitfalls of accepting international payments, explains what’s working across different business models and industries, and shares insights and trends in global payments. Also, learn how the right billing solution can help mitigate challenges associated with processing these payments.
Similar to Crossing Borders – Key Payment Systems Outside the U.S. (20)
NACHA Payments 2018 Annual Conference
More and more companies and financial institutions in the U.S. are adopting ISO 20022. Yet, migrating to ISO 20022 is not so simple nor straightforward. A growing challenge is the technical preparation in sending and receiving payment message files in the corporate on-boarding process. Hear real-world experiences on implementation of ISO 20022 for corporate to bank payment operations. Learn about the latest product available on NACHA's ISO 20022 Resource Center to complement NACHA's ISO 20022 Mapping Guide & Tool to offer efficiencies and reduce risk in the ISO 20022 integration process.
NEACH Innovating Payments 2018
Today we live in an "API economy" that promises to transform business processes and customer experience. Come to this session to explore how APIs are disrupting and driving innovation in financial services around the globe. Understand the benefits and unknowns of APIs and hear about practical examples of APIs in action. Learn what is happening right here in the U.S from effective API strategies to efforts by Afinis, a membership-based standards governance organization under the NACHA umbrella, and what you should take away to enable richer solutions and improved client experiences at your organization.
Insights on ISO 20022 - Digging into the DNA of Faster PaymentsNasreen Quibria
NEACH’s 2018 Payments Management Conference
ISO 20022 has become a key ingredient in the recipe for next generation systems around the globe. What is ISO 20022 and why the push to build immediate payment schemes on this standard? Speakers will provide an overview of ISO 20022 and explore the faster payments landscape here in the U.S. – from The Clearing House Real-Time Payments solution to Zelle and MasterCard. This session will offer insights on instant payment solutions and the ways they are leveraging ISO 20022 to facilitate greater information exchange and drive value to end users.
Demystifying Faster Payments – Separating Hype from RealityNasreen Quibria
NEACH’s 2017 Payments Management Conference
Faster payments trends may affect you sooner than you think! Hear about the latest solutions in development from the Federal Reserve Task Force activities, the Clearing House, and other initiatives. Learn about what’s on the horizon and what will it mean for your financial institution.
How to Execute Standardized ISO 20022 Payment Initiation Via the ACH Network Nasreen Quibria
NACHA Payments 2017 Annual Conference
Today, businesses worldwide are employing ISO 20022 messaging to execute payments to currencies around the globe, and are initiating payments as well in U.S. dollars via the ACH Network. While usage is currently stratified among the largest businesses and banks, ISO 20022 messaging should be on the roadmap of every business, financial institution and payments provider. Increase in ISO 20022 usage for financial messages is being driven by SEPA (Single Euro Area Payments) mandates, as well as tremendous efficiencies gained by businesses in their treasury operations. NACHA-The Electronic Payments Association, is leading initiatives and support for integration of ISO 20022 with the ACH Network
Need for Speed – The Reality of Real-Time Payments in the U.S. Nasreen Quibria
NEACH’s 2016 Payments Management Conference
Email, text messages, app alerts – in this digital age of connected devices and instant communication the expectation for near immediate access is now permeating banking services. To address the growing appetite, faster payment initiatives are emerging across the globe from banks and fintech providers. This presentation will explore the landscape of real-time payments initiatives. Learn about some of the “hot topic” developments, including blockchain technology, and what the growing trend in faster payments means for U.S. financial institutions.
2016 New England AFP Annual Conference
The payments landscape continues to undergo dramatic shifts. Is this an evolution of change or a quiet revolution taking place today? This presentation will explore the landscape of different alternative payment models, emerging nonbank offerings, and more. Learn about some of the “hot topic” developments in the marketplace from mobile initiatives and technologies, wearable innovations to cryptocurrencies and the blockchain, and what these nonbank competition mean for the different payments system stakeholders.
NACHA Payments 2016 Annual Conference
Driven by regulation, globalization and innovation, the acceptance of ISO 20022 is gaining traction across the globe. Where is the U.S. in ISO 20022 adoption and what are the implications for providers and participants? What are the major considerations? Hear from a panel of global experts as they discuss migration approaches, lessons learned at different stages of adoption, and strategies to avoid disruptive forces for effective ISO 20022 implementation.
Whether it’s Bitcoin, or the blockchain technology behind Bitcoin, the cryptocurrency gold rush cannot go unnoticed. From traditional finance, Venture Capitalists, traders to governments around the globe are all stepping up their activity keen to get a piece of the action on the promise of the digital currency. More here: http://qinsights.net/betting-on-the-bitcoin-boom/
The Drive to Electronic Remittance Exchange in Business-to Business Payment A...Nasreen Quibria
The white paper explores the current state of B2B remittance exchange processes in the U.S. and Europe, spotlights shifting dynamics of key geographies, and highlights recent developments in remittance data standards that will shape the future for stakeholders in the financial value chain.
Accounts Payable: Best-in-Class Strategies for Reducing Invoice Processing Co...Nasreen Quibria
This webinar highlights findings from the Invoicing and Workflow benchmark study and unveils a core set of recommendations that follow Aberdeen's unique Best-in-Class Maturity Framework, which details the specific strategies, capabilities and technology solutions leveraged by top-performing enterprises to drive down the costs and cycle time associated with invoice-processing.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
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3. Types of Cross-Border Payments
3
Source: US Census BureauSource: World Bank
$22.81
$13.07
$11.96
$10.60
$6.13 $5.68
$0.00
$5.00
$10.00
$15.00
$20.00
$25.00
B2B – Supplier Payments
B2C – PayrolleCommerce – C2B
Remittances – C2C
2012 Worker Remittances
(In Billions of U.S. Dollars)
$26.69
$26.74
$37.14
$37.63
$41.23
$42.37
$59.69
$114.31
$181.69
$251.69
0 50 100 150 200 250 300
Singapore
Belgium
Netherlands
Brazil
United Kingdom
Germany
Japan
China
Mexico
Canada
2013 U.S. Exports
(In Billions of U.S. Dollars)
5. 5
Mexico
• Hybrid real-time electronic funds transfer system since 2004
• Interbank payment system owned and operated by the central bank
• Processes almost all large value payments and most interbank low value credit transfers
• Funds transferred within minutes
• Available 23 x 5, but most banks offer payment services only 12 x 5
• Average SPEI banking fee is 4 MXN ($0.3)
• Real-time gross settlement network
• Operated by the central bank since 1990
• Limited functionality
• Manages the liquidity provision facilities and
the banks’ current accounts at the central
bank
• Processes mainly low value payments -
checks, the direct debits service, and the
deferred Electronic Funds Transfers (TEF)
service
• Automated clearing house owned and
operated by CECOBAN, a private company
owned by banks
• Most payments are settled D+1
CCEN
SPEI
SIAC
6. Retail Payments Trends in Mexico
6
Source: Bank of Mexico
› Mexico is primarily a cash
culture
› Only for larger purchases
such as household
appliances is cash is a less
common form of payment
› In Mexico, combined credit
card and debit card volume
equates to less than 6% of
GDP
› Mexico is heavily unbanked,
but active mobile
subscription is at nearly 90%
penetration rate
SPEI – Non cash payment instruments in Mexico
(Volume)
7. 7
Brazil
COMPE (Check Clearinghouse)STR (Reserves Transfer System)
SILOC (Deferred Settlement System for
Interbank Credit Orders)
SITRAF (Funds Transfer System)
• Real-time gross settlement system
• Hub of the national payment system (all
Brazilian clearing and settlement systems
settle in central bank money)
• Clears checks (T+1)
• Operated by Banco do Brasil
• Deferred settlement for interbank credit
transfers (DOC), and other services (e.g., TEC,
Boleto) (T+1)
• Two settlement sessions are carried out daily
at 8:20 am and 4:10 pm
• Under the supervision of the central bank
• Hybrid system (RTGS-like system): RTGS and
DNS
• Express Wire Transfers – TED (T0)
• Operation starts at 4 am and ends at 5:10
pm
• Under supervision of the central bank
CIP (Interbank Payment Clearinghouse)
8. 8
Canada
USBE (U.S. Dollar Bulk Exchange)
LVTS (Large Value Transfer System)
ACSS (Automated Clearing and
Settlement System)
• Used for CAD wires – high value, same day,
urgent customer and bank transfers
• 16 direct bank participants
• Processes CAD Checks, EDI, low value (up to
C$25 million), credit and debit transfers, etc.
• 11 direct participants
• 99% of daily transaction volume is processed
• These items represent just 10% of the total
value of the clearing
• Next day (ACH style) settlement of USD
• Positions settled through US correspondents
› Overseas Canada’s national clearing
system
› Not an ACH
› Establishes domestic rules framework
The Role of the CPA…
9. 9
*The timeframes allowed by the CPA exceed those in the current NACHA rules
NACHA Terminology CPA Terminology
Originator Payee
ACH agreement (between the Payee/Originator and
Sponsoring member/ ODFI)
Letter of undertaking
Receiver Payor
Pre-authorized debit authorization form between the
Payor and Payee
Payor's PAD agreement
Originating Depository Financial Institution (ODFI) Sponsoring member
Receiving Depository Financial Institution (RDFI) Processing member
Consumer returns are permitted for up to, and
including, 60 calendar days after settlement date
Consumer returns of PADs are permitted for up to,
and including, 90 calendar days after settlement
date*
Corporate returns are permitted for up to, and
including, 2 banking days after settlement date
Corporate returns of PADs are permitted for up to,
and including, 10 business days after settlement
date*
Variable date notice: 7 calendar days prior
Variable amount notice: 10 calendar days prior
Variable PAD date: additional authorization required
Variable PAD amount notice: 10 calendar days prior
Pre-notification is a ‘test entry’ in advance of any
real’ entry
Pre-notification is used to describe each written
notice sent to the Payor / Receiver in advance of a
recurring debit
Learning Canadian…
10. Average Company Ltd.
N408911
555 Main Street East
Toronto, Ontario M5K1X1
________20___
Pay to the order of ___________________________________________$_______
VOID
______________________________________________________/100 DOLLARS
The Scotiabank Bank
Toronto Centre Branch
55 King St. W. & Bay St.
Toronto, Ontario M5K 1A2
408911: 95042 : 002 : 0694:0234567
Account Numbers are Different in Canada…
10
Populating the NACHA record with the numbers on a Canadian check:
408911: 95042 : 002 : 0694:0234567
Country
code
Bank transit
routing
number
Institution
number
Foreign receiver’s
account number
(maximum of 12 digits)
To create Foreign Receiving DFI
Identification ⇨ 000295042
1) Add leading 0 to Institution Number
2) Combine with Branch Transit Number
11. Retail Payments Trends in Canada
11
Cash
46.0%
Debit
16.0%
ABM
1.0%
Prepaid Cards
2.0%
Checks &
Paper
4.0%
Credit Card
14.0%
On-Us
9.0%
E-Wallets / P2P
0.1%
EFT
8.0%
Cash
2.0%
Checks & Paper
40.0%
Debit
2.0%
ABM
1.0%
Prepaid Cards
0.6%
EFT
32.0%
Credit Card
4.0%
On-Us
18.0%
E-Wallets / P2P
1.3%
Volume Value
Source: 2012 Canadian Payments and Trends Report, CPA
NOTE: With the focus on retail payments or payments other than wholesale payments, LVTS payments are excluded. Business
checks (under $25 million), direct debit, credit card, etc. payments are included in the data.
12. CPA Future Vision:
Migration & Drivers to ISO 20022
12
• Enhanced remittance data
• Domestic and global interoperability
• Single global standard
13. 13
China
• Check clearance all over China
• Promotes and satisfies non-cash payment
demands
• Established June 2006
• Transactions below RMB 500,000
• Operates 8 am to 5 pm
• Credit collection – T+1; pre-authorized
collection – T+1; dated debit – T +2
• 1754 direct and 107, 755 indirect participants
• Expected to launch at the end of 2015
• Enable cross-border RMB clearing among
both onshore and offshore participants
• Run on a SWIFT standard
• Operate 23 hours a day in 17 different time
zones
• Multilingual
• Real-time gross settlement system
• Established June 2005
• Transactions above RMB 500,000
• Operates 8 am to 5 pm
• 1747 direct and 107,850 indirect participants
CIS (Check Image System)
HVPS (High Value Payment System)
CIPS (China International Payment
System)
BEPS (Bulk Electronic Payment System)
CNAP (China National Advanced Payments System)
14. SEPA: Pan – European ACH
14
› 34 countries
› Euro currency only
› All intra-European credit transfers,
direct debits (and card payments)
are domestic payments
› Harmonized legal environment
› Standardized schemes based on
ISO 20022 XML
› Technically interoperable ACH
infrastructures
› Use of IBAN and BIC
› Remittance details of 140
characters
Euro introduced in
interbank
settlement in 1999
2013-2016 EU
Regulation 924 –
SEPA End Date
PSD 2012 (EC
Regulation
260/2012)
EPC Regulation on
mandatory BIC and
IBAN in 2007
PSD 2009 (EC
Regulation
924/2009)
SEPA Direct
Debit (SDD)
launch
SEPA Credit
Transfer (SCT)
launch
Euro Cash and Coins
EU Regulation 2560
introduced for
payments ≤ € 12,500
in 2003
1998 2002 2004 2006 2008 2010 2012 2014
EU
Regulation
2560
increased to
€ 50,000
Integrated payments environment…
SCT & SDD
End Date
As of March 2015. Qinsights.net
15. SEPA Members
15
European Union (EU)
Bulgaria
Czech Republic
Denmark
Hungary
Lithuania
Poland
Romania
Sweden
United Kingdom
Non-Euro
Single Market Area
As of March 2015. Qinsights.net
Italy
Luxembourg
Malta
Netherlands
Portugal
Slovakia
Slovenia
Spain
Latvia
‘Euro zone’
Austria
Belgium
Cyprus
Estonia
France
Finland
Germany
Greece
Ireland
Croatia
Non EEA
Switzerland
Monaco
San Marino
Iceland
Liechtenstein
Norway
Non-Euro
European Economic
Area (EEA)
16. Key Features – SEPA Credit Transfer
16
› Faster settlement: maximum one day time between debit on payer
account and credit on payee account (D+1)
› No deductions of charges – beneficiary receives full amount of transfer
› Common pricing – same cost whether within country or cross border
› No scheme or transactions value limit (Exception: Bank of Spain
imposed a 50,000 limit on residential to non-residential transactions
within Spain)
› Central Bank of Reporting (CBR) may still apply to transactions over
defined thresholds in some countries, as they do for domestic
transactions.
CBR, via banks, is to be removed by February 1, 2016
17. Key Features – SEPA Direct Debit
17
SDD Core SDD B2B
› Debtor is business or consumer (C2B
and/or B2B)
› All SEPA banks must participate
› First / One off on D-5, recurrent on
D-2
› Refund possible within 8 weeks
› Unauthorized transactions – claims
up to 13 months
› Debtor mandate only to the
creditor
› Returns – 5 days after due date
› Customer pre-notification – 14 days
› Legacy mandates can be re-used
› Debtor is a business (B2B)
› Optional - Restricted number of
banks participate
› All types on D-1
› Refunds are not possible
› Unauthorized transactions – claims
up to 13 months
› Debtor mandate to creditor &
debtor bank
› New mandates are required
› Returns – 2 days after due date
› Customer pre-notification – 14 days
› Debtor bank verifies every SDD
transaction
18. Construction of the IBAN and BIC
International Bank Account Number (IBAN): Length differs per country,
up to maximum of 34 positions
DE 79 3706 0590 1234 5678 90
18
Country
code
Check digits
/ control
code
Bank identifier/ routing
number
Account number
*NOTE: BIC details will no longer be required after February 2016
Bank Identifier Code (BIC)*: length of 8 or 11 letters and numbers
DEUT DE FF XXX
Bank
identifier
Country
code
Location
code
Branch
Code [XXX denotes
head office]
19. United Kingdom
19
• 3-day clearing batch system
• Direct debits
• Direct credits (e.g., salary, pensions,
welfare, and tax credits)
• Current account switch service
• Processing time of 15 seconds
• Lower value payments [limited to
between £10,000 and £100,000]
• Small percentage of total UK clearing
value (focus on retail online/telephone)
• 24 x 7 availability
• 140 character narrative
• RTGS intra-day service for sterling
payments
• Low volume - total of .5% of clearing
volume
• High value - 93% of daily value
• The check clearing system in Great
Britain, includes bankers’ drafts, building
society checks, postal orders, warrants
and government payable orders
• The systems for clearing paper bank giro
credits and euro-denominated checks
20. Payments Trends in the UK
20
Source: 2013 The Way We Pay Report, Payments Council
26. Cross-Border Considerations…
26
Account number
requirements
› BIC, IBAN, Transit and
routing codes
Currencies
› Generally ACH
systems clear in local
currency only
› Varying currency
digits for different
countries e.g., 3 or 0
decimal currencies
Cut Off Times
› Varies greatly by
country or region
e.g., Latin American,
Asia
Settlement Cycles
› Hong Kong,
Malaysia and India
same day
› Generally three
days
Clearing Rules and
Regulations
› Value Dates
› Direct Debit
Mandates
› Recourse
› Returns and Rejects
› Threshold amounts
Features and
Functions
› Varied capacity and
capabilities
› Disparate pricing
› Many regions lack
common standards
Unique Requirements
› Character / language
restriction - Japanese
Zengin Clearing based
on Katakana
› South Africa restricts
specific type of
international flows
Reconciliation
› Challenges with
support of remittance
information including
reference information
29. FedGlobal ACH
29
Domestic Formats &
Rules
FX
USD
IAT Format & Rules
USD MXN
02:15 am ET
Day 0 Day 1
ACH Flow Example: Fixed-to-Variable payment to Mexico
› International ACH payments service
offered by the Federal Reserve
Banks to Financial Institutions
› Relies on open bank-to-bank system
› Allows for cross-border ACH credit
payments to 35 countries and
debits to Canada
Services Foreign Gateway
Operator
Service
Provider
Clearing and
Settlement
System
Canada Bank of Nova Scotia n/a ACSS
Mexico Banco de Mexico n/a SPEI
Panama Banco Nacional de
Panama
Telered ACH Directo
Europe DZ Bank Equens Multiple
Latin
America
Banco Rendimento MFIC Proprietary
30. PayPal
30
Network effects
Global footprint
Network of networks
with simplified
process
Online fraud
prevention expertise
› >100M active accounts
› >$100B total payment volume
› Millions of merchants, from sole
proprietors to large corporations
› 190 countries
› 25 countries
› Localized websites in 21 markets
› >27 financial networks
› >15K bank partners globally
› 12+ years experience fighting fraud online
› Leading anti-fraud technology
› Industry-leading loss performance
Online Shoppers Prefer
to Pay with PayPal
#2
#1
#1
#3
#2
Payments network designed for e-commerce
31. Earthport
31
Earthport is a regulated global financial services organization specializing in cross-border payments
Established in 1997 | FSA regulated | SWIFT member, supervised financial institution |
Traded on London Stock Exchange (AIM: EPO) | Major investors: Henderson, Schroder, Blackrock, Millennium
Investment by World Bank (IFC) - 2013 | Purchase of Baydon Hill (FX) – 2013
Global reach - 60 countries, multicurrency capability