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5 Key Takeaways from Trump’s Payments Modernization Initiative

Finovate

Real time payments become solidified Banks’ adoption of FedNow and The Clearing House’s RTP is increasing, and so are consumer expectations for faster fund transfers. So as you begin your second quarter planning initiatives, here are a few things you’ll need to know about this week’s Executive Order.

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Digital Transformation Accelerates Emerging Payment Platforms

PYMNTS

He said that’s why Volante is focused on making sure FIs can deliver high-quality experiences and value-added services, such as the instant payments service Request to Pay in the United Kingdom and Request For Pay via The Clearing House’s RTP® network in the United States. “We

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Fed Tackles Fraud On Legacy Rails As New Infrastructure Gains Traction

PYMNTS

New payments infrastructure continues to gain traction with financial service providers looking to modernize their services for business clients. The Clearing House’s RTP finds expansion within the community bank arena, while abroad, the Bank of Thailand is planning its own infrastructure development to accelerate B2B payments.

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FIS, The Clearing House Partner To Connect Small, Mid-Sized Lenders To RTP

PYMNTS

The Jacksonville, Florida-based financial software company provides a managed platform service for banks to quickly and cost-effectively connect to the Real-time Transport Protocol (RTP). As our volume of real-time payments grows, we can easily scale to meet the growing demand.”. Instant payments now reach 56 percent of all U.S.

RTP
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How The FedNow Service Could Keep Checks In B2B Payments

PYMNTS

When The Clearing House’s faster payments offering RTP went live in 2017 , The Clearing House Senior Vice President for Product and Strategy Steve Ledford pointed to the need for digitization in the business payments space. Business-to-business payments have been some of the most resistant to electronics,” he said at the time.

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Payment Rails Search For Harmony In B2B Payments

PYMNTS

Reports in The Japan News said that MUFG and Recruit are collaborating on a possible digital currency with the potential to facilitate B2B payments, and with plans to launch their joint venture in the first half of next year. Credit Unions Embrace RTP. Profituity Aims To Elevate ACH. Credit Unions Mix Blockchain With Existing Rails.

B2B
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Payment Trends In The United States For 2024

Clearly Payments

Despite these challenges, emerging use cases, increased regulatory clarity, and growing consumer interest suggest that open banking’s future in the USA holds promise for a more competitive financial landscape. Additional Emerging Payment Trends in 2024 Beyond these focal trends, several additional developments are shaping the U.S.