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Control Vs. Convenience Shapes Debate As FIs Adopt Faster Payments

PYMNTS

Delivering rapid payroll could help employers stand out from the pack when recruiting temporary workers, said Steve Ledford , senior vice president of products and strategy at United States payments company and banking association The Clearing House (TCH), during a PYMNTS interview.

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Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

Take two announcements from just last week, related to the evolution of faster payments in the U.S. First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. Then came PayPal’s debut of Instant Transfer to Bank.

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Taking Real-Time Payment Rails To The Tipping Point

PYMNTS

Many of these providers are particularly competing for small- to medium-sized businesses (SMBs) to join their faster payments network over another, which can be tricky as more competitors enter this space. Around the Faster Payments World. Faster payments are filtering into the transportation industry as well.

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Faster Payment Becomes A Federal Case

PYMNTS

It’s the Feds versus the Free Marketeers, and the feud between them is over whose real-time payments (RTP) rails will rule them all. To ensure fast payments are available to everyone, FedNow will be accessible to all banks, no matter the size. In fact, TCH plans to use the FedNow Service too. “We 5 [2019] announcement of FedNow.

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Deep Dive: Weighing The Federal Reserve’s Faster Payments Proposal

PYMNTS

Numerous payments schemes have rolled out since the U.K. launched its own Faster Payments Service in 2008. Australia introduced its New Payments Platform (NPP) in February 2018, and Hong Kong’s Faster Payment System launched in November of that year. Payments: Consumer Preferences.

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Speed Thrills When It Comes To Faster Payments

PYMNTS

As noted in the Faster Payments Tracker, and to offer up just a few examples: the Federal Reserve is mulling the creation of its real-time payments system; The Clearing House (TCH) has its own real-time system, seeking critical mass among banks and in Australia, the New Payments Platform is logging new use cases.

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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

There’s a canary in the faster payments coalmine. That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S. It may also change the conversation about faster payments in the U.S.