The International Payments Framework Association (IPFA) provides rules, standards, operating procedures, and guidelines to improve cross-border payments. And because globalization is driving a broader base of clients who demand a more cost-effective, less complex, and more certain payment service with a wider reach, standardization is more important than ever.
On October 25th, 2010 the live traffic between two IPFA members, the Federal Reserve Banks, USA (FED) and Equens SE in Europe has successfully started. U.S.Bank and DZ BANK are the first banks to use this new channel, exchanging both USD and EUR between the USA and Europe.
IPFA members have commenced planning for the inclusion into the framework of transactions between members in the following countries and currencies; Brazil, Canada, Mexico and South Africa during 2010/2011.
