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These solutions are already widely adopted and focus on enabling technical interoperability between existing mobile wallets, offering fast and integrated payment experiences within their local banking ecosystems. Wero, in contrast, offers a unified architecture, designed for full interoperability and scale across Europe.
As a result, he predicted that the entrenchment of faster payments will be a linear progression that moves from consumer-to-consumer (C2C) to consumer-to-business (C2B), then to business-to-consumer (B2C) to business-to-business (B2B). Yet, Kresse pointed out that, ultimately, individual consumer behavior drives changes in business behavior.
Whether we will see these services gain traction is tied to what many believe to be a major hurdle–interoperability. FedNow may not interoperate with RTP, and it doesn't seem to be a priority for either. C2B) to better capture the benefits of digital and mobile transacting, and how it's beginning to happen in the U.S.,
Whether payments are moving between individuals (peer to peer, or P2P) or between consumers and businesses (C2B), they flow most easily from like to like — for instance, if the sender wants to use PayPal, the recipient must also have an account. That’s why ubiquity is so desirable. But in an ecosystem like the one in the U.S.,
However, as current faster payments initiatives suggest, the focus continues to be on consumer payments, mainly P2P and consumer-to-business (C2B), with some programs supporting B2B transactions. That’s not surprising, though, considering corporates are not necessarily demanding real-time payment capabilities.
Early Warning, which bought clearXchange , is expanding its banking network to enable real-time solutions between banks for B2B, B2C, C2B and C2C solutions. SWIFT has recruited 45 or so banks and let it be known that it wants to throw its faster payments platform hat into the ring.
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