article thumbnail

Past Lessons May Prove Invaluable For US Real-Time Payments Rollout

PYMNTS

So at the technical level,” continued Hay, “the bank is faced with serious challenges in meeting the response time for instant payments.”. Processing has to be continual — even overnight — and companies have to update their anti-fraud procedures as well. Overall, Hay said real-time payments demand banks “change their way of thinking.”.

article thumbnail

What’s Fast And Slow And Read All Over?

PYMNTS

No one, since that’s the bedrock for how our payments schemes operate today — standards continue to evolve as digital and connected devices present new use cases and the need for those standards to be modified or developed. NACHA has implemented ubiquitous Same Day ACH with credit push and will implement phase two with debit pull in the fall.

Fed