March 2016 edition
Table of contents
Editorial by Armin Brun, Member of the Executive Board of PostFinance Ltd
More haste, less speed with the full electronization of payments
- Swiss financial service providers seek to lead payment traffic into the future with projects such as LEON, which entails the electronization of bills and the payment thereof. Nevertheless, cash remains significant and the elimination of paper payment slips is inconceivable at the present time. Despite this, Zeno Bauer, Chairman of the Swiss Payments Council, expresses his confidence that development is proceeding in the right direction.
"Wild young ones" are speeding up payment traffic
The joint portal – heart of the new e-bill and direct debit
- The interbank LEON project is currently in the implementation phase. The requirements of all involved parties – whether banks or billers and invoice recipients – are being compiled at regular intervals and integrated within the project work. The joint portal for all financial institutions promises great success.
New participant administration for e-billing
Payment factory provides perspective
- A lack of transparency and coordination, unnecessary costs and too little efficiency are among the problems affecting multinational companies with decentralized payment traffic structures. A payment factory based on the ISO 20022 standard enables completely automated data transfer without media discontinuities in the process chain and thereby facilitates efficient cash and liquidity management.
Blockchains as a substitute for traditional payment systems?
- Litecoin, Neucoin, Dodgecoin – there are now hundreds of blockchains, each with its own cryptocurrency. Behind each of them lie various strategies, ranging from the exchanging of financial amounts between individuals to the attempt to substitute national currencies. Are blockchains suitable for use in payment systems?