Remove Check Clearing Remove Consumer Remove Fed
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What’s Fast And Slow And Read All Over?

PYMNTS

But recommendation number five is for the Fed to “determine the optimal design of and implement a 24/7/365 settlement service to serve the needs of the faster payments system…and level the playing field.” It’s also a puzzle that we’d even look to the Feds in the first place to drive payments innovation. back in 2014.

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The Fastest Path To Faster Payments In The US

PYMNTS

Instead, we could do something right away — or almost right away — that would make payments between consumers and businesses faster. And focus the “faster” payments initiative on what really matters: getting rid of the friction that prevents payments among consumers and businesses from being better and more efficient.

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In Sluggish Payments, Who’s To Blame: FIs Or SMEs?

PYMNTS

it confirmed that small businesses are fed up with their banks when it comes to how long it takes for payments and transactions to actually complete. After all, if an SME is frustrated at the speed at which a paper check clears, then why not stop using checks? Don’t use a check.’”.