Remove Faster Payments Remove Payee Remove Payment Initiation
article thumbnail

Small Banks Essential To Faster Payments Ubiquity

PYMNTS

was one of the first markets to truly push for faster payments with the launch of the Faster Payments Service , an initiative spearheaded by several government agencies and top banks. Several years later, the initiative has made big strides as other markets around the globe look to the U.K.

article thumbnail

Confirmation of Payee Might Not Stop Push Payment Fraud

FICO

Given the impact this type of fraud has on both victims and banks Pay.UK (previously known as the New Payment System Operator) has announced that from next year there will be a confirmation of payee service. This will allow those sending payments to check that the name on the account matches that of their intended recipient.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Faster Payments Readies Global Payroll For A Paradigm Shift

PYMNTS

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.

article thumbnail

Ascendant Joins Up With SWIFT Network For Cross-Border Benefits

PYMNTS

AscendantFX Capital , which works in technology-based payment innovations, has joined the SWIFT Network for the benefits it offers, including better transparency and faster payments, the company announced in a Wednesday (Aug. SWIFT gpi’s technology is revolutionary for the payments industry and gives power back to the customer.”

article thumbnail

When It Comes To Corporates, Faster Payments Aren’t Always About Speed

PYMNTS

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.

article thumbnail

Coming Together To Bring Faster Payments To Life

PYMNTS

When The Clearing House (TCH), the payments firm owned by commercial banks, along with global software and services provider FIS, recently submitted their proposal to the Fed’s Faster Payments Task Force in order to evaluate their real-time payments system proposal, it signified a milestone along the path toward real-time payments.