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FinovateSpring 2024 Sneak Peek Series: Part 6

Finovate

Features Ensure irrevocable, instant inbound settlement with Request for Payment feature Reduce fraudulent funding risks associated with ACH and debit card loads Focus on high-impact, real-time payment use cases with seamless API integration Who’s it for?

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Deep Dive: The Benefits And Challenges Of Real-Time Push Payments

PYMNTS

Common forms of pull payments include debit cards and paper checks. This allows them to send staff accrued daily wages to prepaid or debit cards after each shift, enabling employees to use their earnings right away. When ‘Pull’ is Not Fast Enough. Real-Time Payment Schemes.

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

PYMNTS

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 . Customer-to-business (C2B) bill payments aren’t the only transfers made simpler by RTP.

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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

Our latest study of disbursement use cases for more than 9,000 consumers suggests that using the debit card as the alias (instead of phone number or email address) was preferred by 84 percent of all consumers. Truly instant payments require a system that can do that without any margin of error, because instant also means irrevocable.

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The State Of Faster Payments: ‘Early Innings’

PYMNTS

For example, the Uber driver can get paid across a debit card, jump into their car for an hour-long shift and effectively use the car as a rolling ATM — to be paid, then use those real-time payments to buy gas or sundries as needed. financial institutions (FIs). Use cases are evolving.

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Why FedNow Will Slow Real-Time Payments

PYMNTS

Over the last several years, an army of innovators with billions in venture funding have built instant pay products on top of card network debit rails. Innovations using card network debit rails, AI and machine learning are even democratizing pay advances for workers with a steady income and employment history.

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When Instant Payments Are Just Payments

PYMNTS

These include advanced data security and new state and federal regulations governing payout mechanisms – to say nothing of the irrevocable nature of instant payments. PYMNTS research shows that over 75 percent of working Americans who struggle to pay their bills would opt for instant payments to debit cards if offered the choice. “If