28 May 2017
Find out more
« All videos

The potential of immediate payments

23 May 2014 | 5279 views | 2

Simon Newstead, MD, head of market engagement at RBS, discusses how immediate payments are still an emerging trend, what needs to be factored in when developing an immediate payments technology and the types of innovation that can be built on top of immediate payments.

Comments: (2)

A Finextra member
A Finextra member | 27 May, 2014, 12:58

Well articulated.

I agree that ISO20022 would be preferable if it can be used in a fast throughput scenario, purely because of the additional data that can be carried with the payment. As payments get faster the risk of fraud rises and more data would allow central regulators, banks, merchants and the individual a greater chance to curb fraud.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Tom Hay
Tom Hay - Icon Solutions Ltd - London | 28 May, 2014, 10:42

Singapore's FAST payments service uses ISO20022 for real-time request-response processing.  It provides much more flexibility, and is a lot simpler to integrate with modern software stacks, than the cards-based ISO8583 used in the UK.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related company information

Royal Bank of Scotland

Related blogs

Create a blog about this story (membership required)
Visit www.capgemini.com/worldreportsvisit www.ebaday.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
13917 views comments | 53 tweets | 81 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7992 views comments | 12 tweets | 24 linkedin
R3 raises $107mR3 raises $107m
7447 views comments | 16 tweets | 16 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
7251 views comments | 12 tweets | 21 linkedin