The Finofo blog

Learn how payment fraudsters steal millions through vendor email scams, and discover key safeguards to protect your business from these costly attacks.

In this article, we explore how the US Dollar RTGS System operates in Hong Kong. We'll delve into its features, benefits, and the mechanics of its operation, highlighting how it ensures efficient and secure real-time gross settlements for US dollar transactions in the region. Discover the system's critical role in supporting Hong Kong's financial infrastructure and maintaining the integrity of its payment processes.

Faster Payments Service (FPS) has transformed the financial transaction landscape in the UK, offering an expedited means of transferring money electronically. This system allows individuals and businesses to make and receive payments almost instantaneously, breaking the traditional barriers of time-consuming bank transfers. This article delves into the workings of Faster Payments, exploring how it enhances transactional efficiency in today's fast-paced economic environment.

FedNow RTR (Real-Time Rail) marks a significant leap in the evolution of the United States' payment systems. As an initiative by the Federal Reserve, FedNow is set to revolutionize the landscape of financial transactions with its promise of instant, 24/7 payment and settlement services. In this article, we delve into the workings of FedNow, its anticipated impact on the economy, and how it stands to redefine the dynamics of modern-day transactions.

In this article, we explore the RTGS (Real-Time Gross Settlement) payment system in India. We'll discuss its key features, benefits, and how it facilitates secure, real-time high-value transactions. Learn how RTGS enhances payment efficiency and plays a critical role in India's financial infrastructure.

Finofo 2024: A look at the key innovations and features that saved time and money for global AP, AR, and Treasury teams, straight from the builders themselves.

Fedwire, operated by the Federal Reserve Banks in the United States, is a real-time gross settlement system that plays a vital role in the American financial landscape. Handling millions of transactions daily, with an estimated value running into trillions of dollars, Fedwire facilitates high-value, time-critical payments across the nation. This article will delve into the mechanics, benefits, and significant usage of Fedwire, underlining its importance in the fast-paced world of financial transactions.

Unpacking the Credit Card Usage in North American SMBs-In North America, the reliance of Small and Medium-sized Businesses (SMBs) on credit cards for Accounts Payable and Receivable is significant. For instance, a report by Visa indicates that nearly 67% of small businesses in the U.S. use credit cards for operational expenses.

The Faster Payment System (FPS) in Hong Kong represents a significant step forward in the region’s digital payment landscape. Launched by the Hong Kong Monetary Authority (HKMA), FPS offers real-time, cross-bank money transfers, allowing for efficient and immediate transactions. This system enables payments and fund transfers using simple identifiers like mobile phone numbers or email addresses, significantly simplifying the process of sending and receiving money.

PIX, Brazil's innovative digital payment system, represents a significant shift in the country's approach to financial transactions. Launched by the Central Bank of Brazil, PIX offers a fast, secure, and efficient method for transferring funds, enabling instant payments 24/7. This platform allows users to make and receive payments within seconds using mobile phones, internet banking, or ATMs, using key identifiers like phone numbers, email addresses, or unique PIX keys.