B2B and Irrevocability - Payments Space

Citi On The Art And Science Of Detecting B2B Outlier Payments

PYMNTS

JULY 2, 2019

Kohli noted that, in the B2B realm, there is a recognition among payment professionals that the increased velocity of payments — especially what might be termed as “payments with finality” that come across real-time rails, where transactions are often irrevocable — means risk is on the rise.

B2B

B2B Cross-Border Payments Irrevocability

Real-Time Payments Successfully Gets Through Its First Test Drive

PYMNTS

NOVEMBER 14, 2017

The first transaction, in addition to moving funds, also carried data in an invoice-like fashion to accompany requests for payments which are irrevocable. All in all, the transfer took three seconds — as opposed to the hours or days more typically associated with an ACH transfer. The upgrade to the system also allows the U.S.

Real Time Payments

Real Time Payments RTP Irrevocability Faster Payments

Mastercard: Collaboration Is Key To Scaling Real-Time Payments

PYMNTS

FEBRUARY 19, 2020

According to Mastercard Executive Vice President of New Payment Flows Ronald Shultz, the survey results are promising for the real-time B2B payments landscape. It’s not speed that’s driving corporates’ real-time payment roadmaps, however – convenience and data availability are at the top of their list of benefits.

Real Time Payments

Real Time Payments Visa Payer Payments

FPC 2022 Fall Member Meeting

Faster Payments Council

SEPTEMBER 12, 2022

12:30pm-1:10pmCT: Panel Session – Efficiency and B2B Payment Modernization (Minneapolis Ballroom Salon AB) With the FedNowSM service coming next year, there's no time like the present to prepare for and innovate on instant B2B payments improvements.

FPC

FPC Federal Reserve Cross-Border Payments Faster Payments

Visa Buys Rambus Payments To Tokenize Any Transaction On Any Network

PYMNTS

JUNE 25, 2019

There is a palpable nervousness on the part of senders and receivers about fraud wrought across nascent real-time rails, since payments are irrevocable. After all, Visa’s issuer clients move money from account to account, spanning P2P and B2B transactions, and those transactions are, as of yet, untokenized. Down The Road.

Transactions

Transactions Real Time Payments Same Day ACH Payments

Being Accountable: Virtual Cards Encourage Spend, Eliminate Hidden AP Costs

PYMNTS

NOVEMBER 24, 2020

As Nick Reid, director of B2B partner development at Conferma , said in an interview with PYMNTS, virtual cards can help eliminate those hidden costs. As is common in B2B, buyers want to hang on to cash as long as they can; suppliers want to get paid as quickly as possible.

Commercial Card

Commercial Card Accounts Cross-Border Payments Cross-Border

Ready Or Not, Faster Payments Will Impact Corporate Operations

PYMNTS

APRIL 22, 2019

The obvious assumption in the business-to-business (B2B) landscape is that faster payments are not only unnecessary, but unwanted, as corporates don’t necessarily need to move money immediately. Adoption and implementation will rely significantly on market demand.

Faster Payments

Faster Payments Center for Payments Real Time Payments Payments

Deep Dive: Billing And The Use Of Real-Time Payments

PYMNTS

APRIL 2, 2019

RTP has showcased its ability to help customers pay providers for received services, but such systems offer more than immediate, final and irrevocable transactions. Real-Time Utilities Payments . For billing companies, processing relatively low-value utility payments from countless users can be tedious.

Real Time Payments

Real Time Payments RTP Payer Irrevocability

Instant Payments Mean Real-Time Payments Fraud

FICO

JUNE 26, 2018

In the UK £250K can now be sent in a single, irrevocable payment – and the system has been tested for up to an eyewatering £10 million. This is important as it makes these schemes more usable for B2B payments in a way that older schemes, such as UK Faster Payments aren’t yet. Who Is Liable?

Real Time Payments

Real Time Payments Instant Payments Irrevocable Payment Irrevocability

Embracing Accounts Payable Automation: The Paper Vaccine

PYMNTS

JULY 22, 2020

Recent events have irrevocably changed the way finance departments operate, bringing to light glaring issues with the current processes. For years, there has been a quiet shift in the B2B payments space. However, in the wake of COVID-19, that may no longer be an option.

Automation

Automation Accounts Irrevocability Checks

Four In 10 Road Warriors Use Corporate Cards For Personal Items

PYMNTS

NOVEMBER 9, 2018

As the United Kingdom moves to embrace faster payments, notes securityboulevard.com, transactions are irrevocable and so new fraud schemes may be on the rise. Travelers don’t have to use their personal cards for business expenses, and companies know exactly how their money is being spent.”. Faster Payments/Faster Fraud in the UK?

APACS

APACS Law Enforcement Irrevocability Credit Cards

Finovate: FICO Falcon X Detects Fraud, Financial Crime

FICO

SEPTEMBER 27, 2019

At Finovate, the big news was that FICO Falcon X delivers AI and machine learning technology in dramatically new ways, helping to prevent new forms of fraud and financial crime growing rapidly along two vectors: Real-time payments, including many offerings from fintechs in person-to-person (P2P) and business-to-business (B2B) categories.

Financial Crimes

Financial Crimes Crime Fraud Detection Money Laundering

Why FedNow Will Slow Real-Time Payments

PYMNTS

AUGUST 12, 2019

For the dwindling numbers of people who still receive a physical paycheck, new applications let workers take a picture of that check and get instant, irrevocable access to the funds for a modest fee. Same-Day ACH , launched in September of 2017, makes emergency payroll possible — not instantly, but within the same business day.

Real Time Payments

Real Time Payments FedNow TCH Fed

Unwrapping APAC’s Faster Payments Fraud Threat

PYMNTS

JANUARY 30, 2020

What’s more, these transactions are irrevocable, and as fraud losses mount, new questions surface over who holds liability to recoup funds. By definition, real-time payments give financial institutions (FIs) almost no time to analyze and authenticate a transaction to prevent fraud and other financial crimes.

Faster Payments

Faster Payments APACS Real Time Payments Financial Crimes

Putting Contextual Banking In Context

PYMNTS

JULY 25, 2018

In a world of 24/7 commerce that is getting ever global, especially in B2B payments , speed matters — but so does accuracy. The payment needs to be irrevocable. Thus, giving context to payments helps make intelligence and data actionable. Context gives rise to that speed and accuracy.

Payment APIs and Integration

Payment APIs and Integration Wires Wire Real Time Payments

Nanopay Raises $10 Million Series A

Fintech Labs Insights

OCTOBER 26, 2016

The funding will also help nanoPay build additional complimentary services for both the B2B and B2C markets. The technology provides for final, irrevocable transactions in real-time that are cryptographically secured. ” Cooke referred to both B2C disbursements and cross-border payments as examples.

Irrevocability

Irrevocability B2C Cross-Border Payments Digital Currency

Bridging The Gap Between Appearance And Reality Of Instant Payments

PYMNTS

OCTOBER 8, 2019

That’s particularly true when funds are truly instant — meaning they are irrevocable. However, enablers of instant money assume the risk between the time when they make funds available and when settlement happens later.”.

Instant Payments

Instant Payments Push-to-Card Payments Settlement

5 Ways Digital Payments Will Change FIs and Fraud in 2023

FICO

DECEMBER 20, 2022

Scammers can hide in plain sight and use social engineering and direct outreach to consumers to coerce individuals to make instant, irrevocable payments. Now, B2B ACH payments are adding to the overall growth, which means businesses, customers, suppliers and partners are able to pay each other much faster and more reliably than ever.

Digital Payments

Digital Payments Scams BNPL ACH

Retail Enablers: Woolworths Goes High-Efficiency With HighJump

PYMNTS

MAY 26, 2017

B2B is dead. Or at least, it’s changed irrevocably since evolving markets have brought businesses and end consumers into closer orbit. B2B will never be the same because of the ‘C’ component,” said David Houser, senior vice president for international sales at the global supply chain management company HighJump.

Irrevocability

Irrevocability B2B Addressing End User

Sleepless In Payments

PYMNTS

MARCH 7, 2016

Instantly, and irrevocably. Early Warning, which bought clearXchange , is expanding its banking network to enable real-time solutions between banks for B2B, B2C, C2B and C2C solutions. Here in the U.S., The Clearing House says it will have something in market by the end of the year.

Online and Mobile Banking

Online and Mobile Banking Payments Same Day ACH Financial Inclusion

Payments Space

Citi On The Art And Science Of Detecting B2B Outlier Payments

Real-Time Payments Successfully Gets Through Its First Test Drive

Trending Sources

Mastercard: Collaboration Is Key To Scaling Real-Time Payments

FPC 2022 Fall Member Meeting

Visa Buys Rambus Payments To Tokenize Any Transaction On Any Network

Being Accountable: Virtual Cards Encourage Spend, Eliminate Hidden AP Costs

Ready Or Not, Faster Payments Will Impact Corporate Operations

Deep Dive: Billing And The Use Of Real-Time Payments

Instant Payments Mean Real-Time Payments Fraud

Embracing Accounts Payable Automation: The Paper Vaccine

Four In 10 Road Warriors Use Corporate Cards For Personal Items

Finovate: FICO Falcon X Detects Fraud, Financial Crime

Why FedNow Will Slow Real-Time Payments

Unwrapping APAC’s Faster Payments Fraud Threat

Putting Contextual Banking In Context

Nanopay Raises $10 Million Series A

Bridging The Gap Between Appearance And Reality Of Instant Payments

5 Ways Digital Payments Will Change FIs and Fraud in 2023

Retail Enablers: Woolworths Goes High-Efficiency With HighJump

Sleepless In Payments

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