SEPA Instant – Happy Path Flow

SEPA Instant – Happy Path Flow SEPA instant is a “PUSH” type of payment where funds are pushed from the Originator’s account to the Beneficiary’s account. The “Targeted” completion time for a SEPA instant payment is 10 seconds (with a hard time-out of 20 seconds). This is monitored and controlled by the CSM(s). This time starts when the payment message leaves the originator PSP and ends when funds are credited to the Beneficiary’s account. It is important to understand that all SEPA...

SEPA Instant – Introduction

SEPA Instant – Introduction Instant Payments are credit transfers that occur in real-time where the funds are available to the beneficiary almost instantly. SEPA Instant payments which went live in 2017 was introduced to prevent fragmentation of payment systems in SEPA (Area) ie. each country developing its instant payment equivalent. Here are the characteristics of a SEPA Instant payment On...

Understand payments in 10 days (No Charge)

UNDERSTAND PAYMENTS IN 10 DAYS (NO CHARGE) You can understand payments in 10 days. Not master it. That may take a lifetime. Here is 10 days worth of reading material from online sources that would cost you “Zero” Bucks. All you have to do is spend 15-20 mins reading the articles mentioned below. Follow this to get a basic understanding...

Resume Building Resources

Resume Building Resources Here are some resources that can help you build your resume to get your dream Job in payments

Payments Interview Preparation

Payments Interview Preparation – A Quick Guide Let us assume that you have a few days to prepare for an interview where payments is one of the mandatory requirements. This is a quick guide on how to prepare for the interview and how to crack it successfully. Here, the assumption here is that you worked in the payments domain in...

SWIFT MT103

SWIFT MT – MT103 Here is a very detailed session on SWIFT MT103

Polish Banking and Payment Systems

Polish Banking and Payment Systems – By Ramachandran Seetharaman Introduction Poland as a country is in the news for the right and wrong reasons. In being right, Poland is the only country in the EU to have accepted the maximum number of refugees from Ukraine. The crisis has also put Poland in the spotlight for the wrong reasons as its...

SWIFT MT101

SWIFT MT101 The start of the MT series is the MT101. If there was a course MTs 101 then they might very well start it with MT101 (Pun intended). MT101 is called a Request for Transfer message. It is a message that is used by corporates and banks (on behalf of their customers) to initiate a customer credit transfer. In...

Payments Quiz – Basics 2

Payments Quiz – Basic 2 Here is a short quiz to test your payments knowledge. There are a total of 15 questions and you have 15 mins to answer the same. Please share the result on LinkedIn and encourage others to take the quiz.

Domestic Payment Schemes in the UK – Part 3

Domestic Payment Schemes in the UK – By Pradyumna Acharya Let’s now take a quick look at the three payment schemes: BACS, CHAPS, and FPS.  BACS  Bacs is the bulk system for high volume, regular retail payments  What it is and what it does  Bacs is the UK’s bulk payment system  It is used for credit transfers and Direct Debits  The...