PYMNTS

MARCH 9, 2020

Consumers and businesses do not want to use new payment networks unless they believe others are already using them, creating a chicken-and-egg problem. Payers have to know that payees will accept certain payment methods before making purchases, and payees do not want to invest until they know payment instruments are in demand.

RTP

PYMNTS

NOVEMBER 14, 2019

Increasingly, the gold standard for payments is invisibility. Platforms and payment service providers are seeking digital, integrated payment experiences that are so seamless, neither the payee nor payer take much notice that a transaction has even occurred. Faster Payments Shift the Landscape.

Payroll

PYMNTS

OCTOBER 24, 2016

One of the biggest areas facing skepticism with blockchain technology and B2B payments is the idea that corporates don’t need real-time payments, as would be provided by Visa B2B Connect. Ludwin argued that blockchain has a few steps up on other payment rails, like ACH. .

Blockchain

PYMNTS

NOVEMBER 17, 2017

But as more FinServ players explore B2B payments use cases for faster payments initiatives, like the U.K.’s s Faster Payments scheme , some are beginning to realize that, when it comes to corporate payers, real-time payments capabilities can offer more than speed. Take payroll, for example.

Faster Payments

PYMNTS

FEBRUARY 9, 2017

For all the tools available across the construction trade, faster payments solutions are not among the most utilized by employers. So, what can an old-school industry do to innovate and speed up the process of payment exchange? The required lien waiver documents can complicate the payment process, he said.

Faster Payments

Fintech Finance

APRIL 11, 2024

Verituity , a leading provider of intelligent, verified payout solutions, today announced the integration of Mastercard Move , Mastercard’s portfolio of domestic and international money transfer solutions, into its payments platform, enabling near real-time payouts for commercial banks and payers.

Cross-Border

PYMNTS

JANUARY 30, 2020

As faster and real-time payment schemes achieve ubiquity in more markets around the globe, speed is increasingly becoming the standard for payers of all kinds. By definition, real-time payments give financial institutions (FIs) almost no time to analyze and authenticate a transaction to prevent fraud and other financial crimes.

Faster Payments

PYMNTS

NOVEMBER 19, 2020

With all of the problems and challenges 2020 has thrown at us, the last thing anyone needs is a nagging perceptual rift between payees and payers about what “instant” means. percent, state that most of their non-government payments come through non-instant methods and take more than a day to receive. Yet, there it is.

Instant Payments

PYMNTS

NOVEMBER 7, 2018

The rise of faster payment systems worldwide are not only enabling payments to move between parties at greatly enhanced speeds, but a growing share of companies are rethinking their traditional business models to take advantage of these more efficient payment tools. Around The Smarter Payments World.

Electronic Funds Transfer (EFT)

PYMNTS

DECEMBER 30, 2020

The migration of the procurement and purchasing process to seller platforms and digital marketplaces will be a driving force into 2021, B2B payment leaders agree, and this trend will drive further change in both payer and payee expectations. Speed will be key in several workflows of the B2B commerce experience.

B2B

PYMNTS

APRIL 21, 2020

Today’s unprecedented market environment has businesses finally taking the plunge to migrate away from checks as payers seek digitization and payees seek transaction visibility. Just which payment rail they will migrate to, however, remains unclear. Deutsche Enables Faster Payments In Thailand.

NACHA

PYMNTS

DECEMBER 12, 2018

Giving Gig Workers Faster, Safer Payments. The rise of faster payment systems — and, in turn, smarter payments — can allow gig workers to securely submit digital timesheets and get paid just a few minutes or hours later. Download the Tracker to read the feature story, Deep Dive and headlines.

Data Breach

FICO

JANUARY 31, 2018

This year and next sees many regions adopting real-time payment schemes, adding to existing schemes in countries such as the UK, Switzerland and Japan. There’s SEPA CT Inst in the EU, the Clearing House Faster Payments Scheme in the USA and the New Payments Platform in Australia. Confirm completion or rejection instantly.

Real Time Payments

Nanonets

SEPTEMBER 21, 2023

This paperless process has revolutionized the payment industry, replacing paper checks and manual processing with automation and electronic transfer of funds. By implementing  EDI payment solutions , your business can enjoy a range of benefits, from faster payment processing times to reduced error rates and improved cash flow management.

Payment Solutions

PYMNTS

APRIL 4, 2018

The debut of these solutions has already dramatically changed the nature of payments, making them considerably smarter than those of days gone by. Today’s smarter payments are delivered much faster – within hours or even just a few seconds – and include data to inform both payers and payees.

Tax Refunds

FICO

JUNE 26, 2018

In the past year, three major economies — the Eurozone, the USA and Australia — have gone live with real-time payments schemes, Canada will follow in 2019 and many other countries are on the road to implementing real-time schemes. This raises the prospect of increased real-time payments fraud against businesses.

Real Time Payments

PYMNTS

JUNE 4, 2020

Regional bank holding company Huntington is now using the RTP network, meaning it now has a new real-time payments option to help people get money nearly instantly, according to a press release. RTP is offered through The Clearing House and is touted as the first new payments rail in the U.S.

Real Time Payments

PYMNTS

OCTOBER 10, 2018

AscendantFX and Fiserv collaborated on an API module to integrate their solutions, including the company’s Payee Intelligence feature that streamlined collection of payment information. Companies, meanwhile, should “never blindly accept and approve a payee request by email,” said Mugford.

Wire Transfer

PYMNTS

FEBRUARY 20, 2018

Same Day ACH became a reality in 2017 after the National Automated Clearing House Association (NACHA) introduced its faster payments infrastructure to the market. In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level.

Cross-Border Payments

PYMNTS

JANUARY 3, 2020

That will play out as optionality, and payers are starting to think about what those options will be. My bigger, long-term vision and goal is that with our marketplace, when the payee gets to choose, you have an environment where people will work to influence what the consumer chooses,” Edwards said.

Instant Payments

PYMNTS

FEBRUARY 28, 2019

It aims to instead provide quicker, smoother processes by enabling digital payments to various youth sports stakeholders, online or via mobile app, with funds pulled directly from payers’ bank accounts and sent into payees’ accounts.

Reconciliation

PYMNTS

FEBRUARY 29, 2016

and other markets, and it’s entirely different; they’ve gone much faster towards faster payments and towards ePayments, and it’s been spurred directly by government action.”. Bottomline processes a “substantial amount” of the payments going through the U.K.’s s Bacs and Faster Payments systems, for example.

Innovation

PYMNTS

OCTOBER 25, 2017

Embracing electronic B2B payments is a two-way street: Payers and payees alike have to put in the effort to make the change. Considering the pace of change in B2B payments, and in the financial services industry altogether, collaboration is likely to be a running theme, the Citizens executives said.

B2B

Stax

MARCH 14, 2024

Business to consumer (B2C), by comparison, relies on speedy payment processing to transact on the spot. Most B2C transactions are performed at the point of sale (POS), whether it’s eCommerce or in-store checkout, which lends them to faster payment methods like mobile payments more often than B2B transactions.

B2B

EBizCharge

APRIL 25, 2024

ACH transfers are cost-effective, with lower transaction fees than other payment methods such as wire transfers or credit card transaction Due to their added convenience, savings, and efficiency, ACH transfers are a preferred payment method for businesses and individuals.

Online and Mobile Banking

PYMNTS

OCTOBER 31, 2019

The emergence of faster payment networks is elevating the importance of AR functionality even more. Being able to integrate a lockbox and the data it collects into a company’s electronic AR and financial management platforms is key to supporting modernization efforts on a larger scale. The Path to Integration.

Lockbox

PYMNTS

MARCH 2, 2016

Earlier this month, Invoice Central announced that it has now achieved Level 2 and Level 3 interchange qualification, which means that there is more information exchanged between payer and payee. That gives increased confidence that this is going to be a good, solid transaction and not turn into a bad debt,” Harrison explained.

Commercial Card

PYMNTS

AUGUST 15, 2018

Today, their technologies must communicate with existing infrastructures as systems migrate to the cloud, address the points of friction before and after payment, and support the needs of not only the corporate payer, but of the payee, too.

B2B

Nanonets

NOVEMBER 30, 2023

  Benefits:  Besides significantly improving invoice processing efficiency, using an AI-driven AP automation system helps your company improve its vendor relationships through better communications, including payment status, and faster payments.

Best Practices

The Fintech Times

MARCH 20, 2025

With over a quarter (27 per cent) of respondents admitting they spend too much time managing payments, a significant proportion recognise the benefits that automation can deliver in process improvement, chiefly highlighting faster payments (49 per cent), reduced errors (34 per cent) and time savings (25 per cent).

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