Valid XML Characters for your SEPA Payments 3

Understanding the list of valid xml characters for your SEPA Credit Transfer (PAIN.001) and SEPA Direct Debit (PAIN.008) formats is really important. I know that is stating the obvious, but often invalid xml characters or illegal xml characters are entered into the payments format and can cause either the single payment to be rejected or ...

An Example of Wearable Technology By Disney

I must admit I haven’t been won over by the whole wearable technology craze that seems to be gaining in momentum with various fitness devices and smart watches available on the market. In short, I just don’t get how wearable technology could help or benefit me. Wearable technology is seemingly complicated, pretty expensive, the alternative (typically a ...

The Difference between a SWIFT ACK and SWIFT NACK 17

Having explained the various SWIFT message types and the structure of a SWIFT message, one of the other big questions that corporates contend with is what is the difference between a SWIFT ACK (Acknowledgement) and SWIFT NACK or sometimes referred to as SWIFT NAK (Negative Acknowledgement). Let’s get straight into it… The Structure of SWIFT ...

The Structure Of A SWIFT Message, Explained! 25

If you’re looking at a SWIFT message for the first time, it can be a bit daunting. To the untrained eye the whole SWIFT message structure can look like gobbledygook. But actually, there is a bit of a method to the madness. Whether you are receiving, processing or constructing an MT101 or an MT940 message ...

SWIFT Message Types – Know Your MTs from your MXs… 11

The recent SWIFT related posts have been pretty popular, and many of you have contacted me asking for more detailed information about SWIFT message types. To get the full lowdown on SWIFT message types, you need to read SWIFT’s very own Standards Inventory Of Messages. Its 47 pages worth of SWIFT message types, nice bedtime ...

The Top Payments News Stories in July, 2015

Mobile payments, blockchain and fintech payments news stories dominated in July 2015. Mobile payments news focused on the UK launch of Apple Pay, and the banks continue to express their excitement around blockchain technology. I never thought we would see news about Mike Tyson in a blog about payments news, but he’s fought his way into this months ...

9 Interesting Payment Factory Insights from Sungard

The SunGard’s 2015 Payments Study: Putting Fraud and Fees Under the Payment Factory Microscope is a must read for all corporates who are considering a payment factory solution. The study nicely identifies some of the reasons why corporates are assessing their bank relationships and the number of accounts they hold, and reveals interesting information around ...

10 Things I Learnt About Mobile Money from GSMA

The GSMA State of the Industry – Mobile Financial Services for the Unbanked 2014 – Report is a really interesting insight into the mobile money landscape. The report compiled by GSMA’s Mobile Money for the Unbanked (MMU) team is a must read for anybody interested in mobile money, the unbanked and financial inclusion. Following are ...

The Benefits of SEPA According to PWC 2

PWC were assigned by the European Commission DG Internal Market & Services to analyse the benefits and opportunities presented by SEPA once ‘fully embraced’. The report released last year in January 2014, provides us with some interesting insights into the opportunities and benefits of SEPA. Some aspects of the report are very technical and theoretical, but ...

8 SWIFT for Corporates Insights by SWIFT 5

As you can probably tell, I’ve been on a bit of a SWIFT for Corporates mission recently. The posts I’ve Got 99 Problems But SWIFT Connectivity Ain’t 1 and 10 Reasons Why SWIFT Connectivity Is Not a Magic Bullet have been extremely popular. Having completed these posts, I thought it would be interesting to revisit the key ...