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. Public vs. Private RTP. Federal Reserve is hardly alone in envisioning a national fast payments/rapid settlements system. RTP and Ubiquity.

Faster Payments 74

Faster Payments Federal Reserve FedNow RTP 74

PYMNTS

MARCH 9, 2020

Such systems can offer everything from swifter settlement times to easy payment status tracking, but such benefits require widespread adoption. 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. Facilitating Uptake.

RTP 81

RTP TCH ISO 20022 Real Time Payments 81

PYMNTS

DECEMBER 18, 2018

Amazon , Apple and Google are among the large tech companies that are throwing their support behind the creation of a real-time payments network in the U.S. to speed up payments. Only the Federal Reserve can serve as the catalyst to achieve real-time payments ubiquity in a timely manner,” the tech companies said in the letter.

Real Time Payments 83

Real Time Payments Fed Federal Reserve Payment Networks 83

PYMNTS

NOVEMBER 27, 2019

According to Tom Halpin, head of payment products at HSBC , faster and real-time payment services don’t only provide the value of speed for corporate clients, especially in the context of cross-border transactions. Progress in Tackling Cross-Border Payments Friction. What Faster Payments Hasn’t Solved … Yet.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

PYMNTS

JANUARY 11, 2021

PYMNTS' latest Real-Time Payments Report done in collaboration with The Clearing House looks at the matter through numerous use cases, none more informative than that of New Jersey-based community bank Cross River , with its enthusiastic embrace of real-time payments (RTP). Yet banks and FIs are making the move to RTP.

RTP 67

RTP Real Time Payments Payment APIs and Integration B2B 67

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 72

RTP Real Time Payments Faster Payments Cross-Border 72

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 52

Credit Union Funding Agent RTP Real Time Payments 52

PYMNTS

DECEMBER 30, 2020

Nations’ paths toward real-time payments ubiquity therefore depend on FIs, FinTechs and other players adopting these systems and then extending access to other such firms. based FI navigated its implementation of the RTP® network and how it strategizes around extending access to its FinTech clients. . Direct Connections .

RTP 64

RTP Payment APIs and Integration Instant Payments TCH 64

PYMNTS

JANUARY 28, 2020

This week’s examination of the latest innovation initiatives finds this to be true both for innovators exploring ways to improve existing rails — like ACH — as well as those that have embraced the development of entirely new rails, including real-time payments (RTP) and blockchain-powered transactions. percent year over year.

Same Day ACH 79

Same Day ACH RTP NACHA ACH 79

PYMNTS

FEBRUARY 8, 2018

to Singapore have long been home to real-time payment schemes, but speed lagged behind when it came to America. It wasn’t until November 2017 that The Clearing House (TCH) debuted its Real-Time Payments (RTP) scheme — a system that isn’t expected to see across-the-board adoption until 2020. The faster payments promise.

RTP 43

RTP Real Time Payments TCH Faster Payments 43

PYMNTS

APRIL 29, 2019

Many countries around the world are rolling out instant payments schemes that bring speed and convenience to payments made within their own borders. Unfortunately, those benefits are often limited when it comes to cross-border payments. Privately-owned companies are also looking to solve the cross-border payments problem.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

Faster Payments Council

SEPTEMBER 23, 2023

The Fall 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. Foundry Ballroom) Payment networks need volume to scale and keep costs low.

FPC 88

FPC RFP Federal Reserve Faster Payments 88

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. We have a real-time payments network.

FedNow 85

FedNow Fed Federal Reserve Real Time Payments 85

PYMNTS

DECEMBER 4, 2019

Not only does that figure represent the growing demand among businesses for faster, more agile and more transparent ways to move funds across borders, it also reflects the financial services industry’s willingness to embrace something other than legacy payment networks to facilitate that demand. HSBC Loops Into RTP.

B2B 52

B2B RTP Cross-Border FPC 52

PYMNTS

OCTOBER 15, 2020

Real-time payment is also is finding traction in the gig economy, allowing employees to be paid on a regular basis, even daily. There’s room for RTP and ACH to co-exist, said Waterhouse, “for a very, very long time.” But the faster payment systems are showing advantages, too, he said. So that is certainly an aspiration.

Real Time Payments 125

Real Time Payments NACHA SWIFT TCH 125

Faster Payments Council

SEPTEMBER 12, 2022

The Fall 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.

FPC 88

FPC Federal Reserve Cross-Border Payments Faster Payments 88

PYMNTS

NOVEMBER 4, 2019

Use-cases for real-time payment capabilities continue to grow for consumers, small businesses and corporates, while the open banking business model is proliferating beyond the ability for FinTechs to loop into their customers’ bank account data, and into new opportunities like enhanced small business loan underwriting and automated accounting.

Real Time Payments 44

Real Time Payments RTP Payment APIs and Integration Faster Payments 44

PYMNTS

DECEMBER 6, 2017

PNC announced it is now live on The Clearing House’s real-time payments network RTP, according to a press release published on Tuesday (Dec. The financial institution (FI) has linked into RTP in the U.S. via Finastra ’s Fusion Payments, a payment services platform.

Real Time Payments 40

Real Time Payments Payment Networks RTP RFP 40

PYMNTS

NOVEMBER 25, 2020

Real-time payments are picking up steam around the globe, with one recent report finding that 56 countries have real-time payment networks set up within their markets. The partnership will help Visa expand its Visa Direct network-enabled solution to consumers in 32 European markets, the company said.

Payroll 104

Payroll Real Time Payments P2P Zelle 104

PYMNTS

JULY 22, 2020

Businesses in lockdown are finding that real-time payments can support the need to move money and execute payments quickly from a remote working environment, he said, while for customers, merchants’ acceptance of faster payment methods supports demand for touchless and online transacting. In the U.S.,

Real Time Payments 90

Real Time Payments FedNow Payments Faster Payments 90

PYMNTS

FEBRUARY 3, 2020

Vasir said the drive toward faster payouts and real-time access to earned wages has introduced new use-cases for faster payment networks in the payroll space. He highlighted The Clearing House’s recent decision to raise the threshold limit for RTP transactions from $25,000 to $100,000. A New Data Security Paradigm.

Payroll 73

Payroll Payment APIs and Integration Faster Payments Due Diligence 73

PYMNTS

DECEMBER 20, 2017

While more speed may mean more endorsement money for athletes, it means faster settlements and more efficient business for commercial banking customers. Faster payments recently made their American debut, with The Clearing House (TCH) instituting the inaugural transaction on the first new payments and clearing system in the U.S.

AI 83

AI Real Time Payments Faster Payments Payments 83

PYMNTS

NOVEMBER 19, 2020

This week’s round-up of the latest innovations in payment rails for B2B payments shows a key focus on real-time transactions and embrace of emerging, faster payment rails. TOMIA and Clear Embrace Blockchain for Telecom B2B Payments.

B2B 104

B2B Blockchain Real Time Gross Settlement (RTGS) Real Time Payments 104

PYMNTS

APRIL 20, 2018

SwapsTech has completed the development of its faster payments solution to help financial institutions link into real-time payment capabilities. The company announced news on Thursday (April 19) that its Payment Galaxy tool is one step closer to being available for banks.

Real Time Payments 40

Real Time Payments TCH RTP FedWire 40

PYMNTS

NOVEMBER 18, 2019

HSBC Bank has launched real-time payments capabilities on the RTP network that gives businesses the ability to pay and be paid immediately, the company said in a press release Monday (Nov. This is the latest enhancement of HSBC’s implementation of the RTP network. Now, they can also send real-time payments.

Real Time Payments 40

Real Time Payments RTP TCH Cash Management 40

PYMNTS

JANUARY 22, 2021

Many consumers are therefore eager for auto financing to be as swift as possible, and companies like auto financing provider Westlake Financial see disbursements delivered over the RTP® network as the future of the industry. The RTP network is a powerful tool, but any tool must be wielded properly to have its desired effect.

RTP 56

RTP Finance Security Real Time Payments 56

Fintech Finance

MARCH 31, 2025

Consumer-initiated payments, such as account-to-account (A2A) transfers and bill payments, also continue to increase as consumers move to faster-payment options and away from paper checks. “Consumers and business appreciate the convenience and security provided with electronic payments. .

ACH Network 59

ACH Network ACH Continuity Same Day ACH 59

PYMNTS

AUGUST 12, 2019

TCH cleared its first RTP transaction on November 14, 2017. But a handful of the 12,000 FIs and 51 percent of deposits does not a real-time payments network make. A few of them already have – but almost two years later, it isn’t clear whether any of this has led to much RTP activity.

Real Time Payments 78

Real Time Payments FedNow TCH Fed 78

PYMNTS

OCTOBER 6, 2020

“We’re committed to providing advanced cloud-native solutions that help financial institutions of all sizes accelerate their connection to the RTP network without needing to make expensive technology investments,” said Carl Robinson , senior vice president at Alacriti.

Real Time Payments 46

Real Time Payments RTP Credit Union Payments 46

PYMNTS

OCTOBER 26, 2018

While payment rails like ACH, Faster Payments and beyond offer enhanced transmission of data, Nick Armstrong, CEO of identitii , says they still fall short of what corporates and their FIs need. While Real-Time Payments services ranked second, researchers noted that “RTP and data availability goes hand in hand.”

Remittance Data 60

Remittance Data ACH Request for Information RTP 60

PYMNTS

NOVEMBER 5, 2019

Jack Henry Associates announced last week that it has on-boarded an additional 15 financial institutions to The Clearing House’s RTP network in the latest sign of faster payments gaining traction in the U.S. Faster Payments Interoperability is a Must. A new report from the U.S. On Monday (Nov. 4), the U.S.

Interoperability 40

Interoperability Faster Payments FedNow ACH 40

PYMNTS

MARCH 17, 2020

The Need For Standardization In Cross-Border Payment Processing. Getting to a seamless flow of payments, done globally with speed, is made even more difficult by the lack of standardization across payment networks and systems, as payments infrastructure and processes can differ significantly from country to country.

Cross-Border 91

Cross-Border Innovation Cross-Border Payments Payment APIs and Integration 91

PYMNTS

JANUARY 23, 2020

Instant payments started 2020 on a high note, however, with the adoption of real-time payments and other speedy disbursement methods increasing over the past few years. More than 42 percent of consumers received at least one instant payment in 2019, but such disbursements have a way to go before they are as common as many would like.

Instant Payments 56

Instant Payments Real Time Payments Online and Mobile Banking Payments 56

PYMNTS

OCTOBER 31, 2019

The emergence of faster payment networks is elevating the importance of AR functionality even more. He did note, however, that he is “very optimistic” about the emergence of new payment services able to move remittance data along with funds.

Lockbox 43

Lockbox Remittance Data Checks RTP 43

Payment Savvy

FEBRUARY 24, 2023

In most cases, RTPs are processed through real-time payment networks that are separate from traditional banking networks. These networks are designed to handle high volumes of transactions and prioritize speed and security, making them ideal for RTPs.

Real Time Payments 98

Real Time Payments Payments Risk Cash Management 98

PYMNTS

DECEMBER 26, 2018

There is clearly a huge demand for access to affordable and secure international payments in the market, with Transferwise , a C2C global money transfer service, reporting in the black for the second year running and valued at over $1B USD. There is growing ambition to link up domestic systems to deliver cross-border, real-time payments.

Cross-Border 51

Cross-Border Cross-Border Payments SWIFT Third-Party Service Provider 51

Segpay

JUNE 13, 2024

Interoperability and Inclusiveness : SCT Inst’s success in fostering inclusivity by enabling all banks, regardless of size, to participate in the real-time payment network was a crucial learning point. FedNow aims to replicate this inclusivity, ensuring even smaller financial institutions can offer instant payment services.

FedNow 52

FedNow Federal Reserve Real Time Payments Instant Payments 52