Faster Payments Council

AUGUST 16, 2024

Is your financial institution fully harnessing the potential of RTP® and FedNow® to drive growth? While 'receive-only' instant payments is a significant step forward, the true transformative power lies in actively sending payments.

FedNow

PYMNTS

SEPTEMBER 15, 2020

Postal Service have added yet another hurdle to the payment method, which can affect everything from accounts payable (AP) to payroll to insurance disbursements. With payment innovators looking to migrate B2B payments away from paper, a growing number of payment rails and technologies are helping to ease the pain of the shift.

RTP

PYMNTS

AUGUST 20, 2020

New research says businesses are eager to make the leap into real-time payments (RTP) — and to embrace new payment rails in their effort. Businesses Ready To Jump Into RTP. A new survey from Citizens Bank says businesses are jumping into the real-time payments opportunity. This week, the U.S.

RTP

Fintech Finance

JULY 24, 2024

Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, is pleased to announce that Carl Slabicki, Executive Platform Owner of Treasury Services at BNY, has been named the new Chairperson of the FPC Board of Directors.

Faster Payments

PYMNTS

MARCH 18, 2019

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.

Faster Payments

PYMNTS

JUNE 18, 2019

It’s a well-known fact, too, that corporate payments (the B2B kind) are ripe for digitization, and for a wholesale move away from the paper chase, where checks are still stubbornly tied to 50 percent of corporate transactions. The Clearing House [TCH] launched its own RTP network at the end of 2017.). RTP And RFP.

RTP

PYMNTS

MARCH 11, 2020

There’s a battle brewing in payments. 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. service, expected by 2024 as a national fast payments platform available to the public. Public vs. Private RTP. RTP and Ubiquity.

Faster Payments

PYMNTS

AUGUST 10, 2020

You’d be forgiven for thinking that faster payments might be the purview of the U.S. Federal Reserve, where details (a roadmap, really) of FedNow , the proposed instant payment system, were released earlier this month. Real time is getting ever closer to prime time. But it might not be the Federal Reserve ’s doing.

Real Time Payments

PYMNTS

JULY 2, 2019

Real-time payments (RTP) is a global initiative that’s been a decade in the making and counting, one that has gained momentum over the last several years. More than 50 countries are actively pursuing, piloting or already live with real-time payment programs. Even so, businesses seem aware of the benefits of RTP.

RTP

PYMNTS

FEBRUARY 4, 2019

This rapid expansion is fueling predictions that the global real-time payments market will rise from a value of $6.8 Numerous payments schemes have rolled out since the U.K. launched its own Faster Payments Service in 2008. bank account would be able to securely receive real-time payments by 2020. . State of U.S.

Faster Payments

PYMNTS

JANUARY 8, 2021

In short, the global pandemic has ushered in rising usage — and use cases — for TCH’s RTP ® network, and Whisler doesn’t see that slowing down anytime soon. We've seen a lot of excitement this year with the RTP ® network, and we're very much expecting next year to grow even faster,” she said. Becoming A 24/7 RTP Shop.

RTP

PYMNTS

NOVEMBER 3, 2020

Financial institutions (FIs) and other financial services providers are looking to help meet the need for speed by leveraging various faster payment rails that support an array of payment methods,” according to PYMNTS’ latest Real-Time Payments Report done in collaboration with The Clearing House.

Real Time Payments

Faster Payments Council

AUGUST 23, 2024

Dive into the latest trends and challenges in faster payments, and connect with peers and leaders in the field. Be part of the conversation shaping the future of faster payments. It's time to confront the harsh reality—innovation alone doesn't drive broad adoption.

FPC

PYMNTS

NOVEMBER 25, 2020

Bloh recently spoke with Karen Webster about the opportunities to optimize B2B payments through A2A capabilities that support a variety of payment modalities — including real-time payments (RTP) — and how data connectivity with the ERP further closes the gap between buyer and supplier. The Account-To-Account Connection.

B2B

PYMNTS

DECEMBER 4, 2018

The uptake of faster payment systems keeps going up — and up, and up. EBA CLEARING ’s RT1 system, meanwhile, has processed more than 5 million transactions since launch — but some have said the faster payments space could be growing even faster. So, what’s holding back a more rapid faster payments adoption?

Central Bank

PYMNTS

APRIL 22, 2019

Corporate payments still don’t have a clear role in driving the adoption of faster payment technologies and systems in the U.S. Still, others have said that B2B payments should be largely left out of the faster payments conversation. “Our [payment] systems are looking at 24/7/365 solutions.

Faster Payments

PYMNTS

DECEMBER 3, 2019

The Corporate America Credit Union (CACU), which serves almost 500 credit unions (CUs) around the world, has become a funding agent for the RTP network, The Clearing House ’s (TCH) real-time payments network, according to a release. By becoming a funding agent, CACU is now a partner that can make that process easier.”.

Credit Union

PYMNTS

DECEMBER 12, 2019

continues to take significant steps toward a faster payments ecosystem , the market undoubtedly lags behind others across the world in the path toward real-time payments ubiquity. as the market explores how to wield a competitive private sector to promote faster payments. Though the U.S. Learning from World Peers.

RTP

PYMNTS

JANUARY 30, 2020

Sure, that might sound a bit obvious, but the statement also provides a quick opportunity to catch up on those deployments and developments – and to consider what changes will arise when RTP moves even further into the consumer mainstream. Bigger RTP Trends. That has not changed, according to PYMNTS research and reports.

RTP

PYMNTS

JUNE 23, 2020

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.

Federal Reserve

PYMNTS

JANUARY 28, 2020

When it comes to payment rail innovation, transaction speed is often the catalyst driving change. The Clearing House Expands RTP Opportunity. ’s newest real-time payment rails, the RTP network, is looking to expand the opportunity for payers to use the faster payment rail by increasing transaction limits.

Same Day ACH

PYMNTS

JUNE 18, 2019

Adoption of real-time payments in the U.S. The assumption, of course, is that faster payment functionality only has a place in the peer-to-peer payments arena. ’s push for real-time payments is led by The Clearing House, which aims for ubiquity of its real-time payments (RTP) network by 2020.

RTP

PYMNTS

MARCH 17, 2020

Simply put, the back-office systems are ill-equipped to handle the demands of technological innovation, especially as financial services cross channels. The Challenges Of Multi-Channel Payment Innovation. With open APIs you can pretty much build an entire ecosystem for payments providers,” he said.

Cross-Border

PYMNTS

DECEMBER 30, 2020

And in faster payments, the advantages of instant payment services are receiving attention from firms that want to be able to transact with better visibility and cash flow data. 84% : Portion of technology firms that are “very” or “extremely interested” in the real-time payments (RTP) network.

RTP

PYMNTS

NOVEMBER 27, 2020

Consumers have meanwhile transitioned even more toward payment solutions that allow them to send or receive money in real time, with P2P apps like Zelle and Venmo reporting jumps in user activity during the first half of 2020. The hunt for faster payment experiences among all users is generating a spike in interest in real-time payments.

Real Time Payments

PYMNTS

NOVEMBER 27, 2019

Further, one of the largest benefits to corporates of faster and real-time payments services is less about the speed and more about the data these networks are able to carry along with a transaction. What Faster Payments Hasn’t Solved … Yet. The world is moving more toward standards, and ISO is one of them,” said Halpin.

ISO 20022

Fintech Finance

FEBRUARY 28, 2024

Volante Technologies, the global leader in payments as a service, today announced the appointment of Deepak Gupta, EVP Product, Engineering & Services at Volante, to the U.S. Faster Payments Council (FPC) 2023-2024 Board Advisory Group. Faster Payments Council Board Advisory Group appeared first on Fintech Finance.

Faster Payments

PYMNTS

SEPTEMBER 19, 2019

Cross River, a company that provides banking services for technology companies, will join The Clearing House’s (TCH) RTP network, according to a release. By joining the network, Cross River will be able to give its clients the ability to send, settle and clear payments instantly, along with messaging capabilities, while ensuring compliance.

Real Time Payments

PYMNTS

SEPTEMBER 23, 2020

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

PYMNTS

JULY 3, 2019

In the B2B world, the time is now for faster payments. In the Real-Time Payments Innovation Playbook , done in partnership between PYMNTS and Mastercard , financial decision-makers from nearly 400 firms across a dozen industries laid out a number of priorities for making their payment processes more efficient.

B2B

PYMNTS

OCTOBER 12, 2020

There is no dearth of faster payments initiatives — and no certainty that there will be one faster payments scheme to rule them all. We'll look to have interoperability with RTP so that we can start to get that reach.” Solving problems, of course, would increase traction and adoption of speedier payments.

Instant Payments

Faster Payments Council

MARCH 15, 2023

The Spring Member Meeting will bring together FPC members for two days filled with presentations on the most pressing issues in faster payments, panel discussions with industry experts, roundtables on timely topics, and engaging networking opportunities. The Clearing House has gained momentum with its RTP service.

FPC

PYMNTS

APRIL 29, 2020

The April 2020 New Payment Flows edition of PYMNTS’ Credit Union Innovation Playbook series, a PSCU collaboration, looks into the credit union (CU) space at a pivotal moment: Many concepts, from eating to shopping to traveling and, of course, how we pay, have changed forever. CUs value innovation that benefits members.

Credit Union

PYMNTS

AUGUST 6, 2019

The announcement was long anticipated — arguably since the Fed launched its 500-person Faster Payments Task Force in 2015 and announced its intention to take a seat at the table in an industry-wide conversation about how faster payments would evolve in the U.S. Brainard asked. Why Now For FedNow.

FedNow

PYMNTS

DECEMBER 31, 2020

The demand for faster payments is growing as companies look for swift, data-rich ways to transact. One study from 2019 found that 54 percent of 120 financial executives listed real-time payments as one of the most impactful emerging technologies, for example. Direct Connection Versus Third-Party Provider. Phased Implementation.

RTP

PYMNTS

MAY 27, 2020

For payments technology players, finding the opportunities to build upon existing infrastructure continues to open up new doors in B2B payments improvements. Meanwhile, credit unions (CUs) are growing more interested in embracing an entirely new rail for their clients and themselves: The Clearing House’s RTP.

Blocks

PYMNTS

JULY 3, 2018

The need for faster payments is transcending borders, with FIs in several major global regions making efforts to expand local access to speedier payments. These innovations not only promise to improve payment speed, but to also accelerate financial access and empowerment in different markets. . s payment systems.

Faster Payments