In the United Kingdom, Banks can join the Payment market infrastructures for the Pound sterling, but since UK belongs to the SEPA Area, UK Banks can join Euro Payment market infrastructures as well. Which impact does this have on banks in the UK and how can we model that? You will get the answer to […]
Archive | Credit Transfers
Schemes and standards for funds transfers in different countries of the world. SEPA Credit Transfer, Domestic Transfer, Interbank systems, Multilateral clearing, Real-Time Gross Settlement
Payment Market Infrastructures in the World – United Kingdom Part I
In our last videos, we spoke about the payment market infrastructures in Sweden. In today’s video, we will consider the payment market infrastructures of the United Kingdom. As before, we first look at the generic model that you can use to study the market infrastructures of your own country.Like Sweden, the UK has its own […]
Secrets to understand Payments Market Infrastructures – Sweden Part 2
In the previous video, we explained how Payment Market Infrastructures are structured anywhere in the world while focusing on the example of Sweden. Swedish banks can join the Payment Market Infrastructures for the Swedish krona, but they can join European Market Infrastructures as well: Which impact does it have on banks and Sweden and how can […]
Secrets to understand Payment Market Infrastructures – Sweden part 1
Is there a secret to easily understand payments systems in any country? Do you know the payment market infrastructures of your country and how they are structured? This is the first of a series of videos where we will examine payment market infrastructures of a few countries in the world. And we begin with Sweden. […]

Payment Systems & Modernization in Canada
Canada is the second largest country in the world by total area, with a population of 38 million approximately, as per Q2, 2020 census. Operating across 6 primary time zones, the consumer and business transactions constitute a total of 21.1 billion by volume and CA$ 9.9 trillion by value, for the year 2018, as per […]
Differences between SEPA, SWIFT and UK Faster payments
When you begin your journey in payments, you can easily feel overwhelmed because of the many types of payments and payments systems available out there. How to easily understand what they are and how to differentiate them? In this article, we revisit one key concept and explain the differences between SEPA Payments, UK Faster Payments […]

IBAN number: definition, structure and checker
The IBAN number or simply IBAN (International Bank Account Number) serves as the unique identifier for the bank account in SEPA payments. Debtor and Creditor accounts must be provided therein in IBAN formats. But contrary to what many believe, IBANs are not used everywhere in the world as we will see below. This article begins with […]

SEPA Payments Schemes, Instruments, Initiatives and Messages standards
Simply put, SEPA payments are pan-European payments instruments in Euro, created as results of the SEPA project whose aim is to harmonize standards and practices for electronic and cash payments across the SEPA area. The SEPA area consists of 34 countries out of which some do not use Euro as local currency. If you are […]

SWIFT BIC Code
The SWIFT BIC code is a standardized international identifier (ISO 9362) used in financial messages exchanges. Understanding what the BIC code is fundamental because it is used to identify entities and to route payments messages over SWIFTNet, the SWIFT secure IP Network. What does BIC stand for? and what is the BIC? Does BIC stand for […]

Strategy #2 to understand how cross border payments work
In this article, we will look at the second strategy to understand how cross border payments work: Grasp the principles of Correspondent Banking and account relationships between banks located in different currency zones. In case you have not read the introductory article and the article about the first strategy, I strongly recommend you to read […]