TSB boosts access to Emergency Flee Fund with video banking
Finextra
AUGUST 29, 2024
TSB is making its Emergency Flee Fund available to victims of domestic abuse on its video banking platform.
Funds Availability Related Topics 
Macro Global and Trust Payments Expand Strategic Partnership to Offer Transformative Cross-border Payment Experience
Fintech Finance
OCTOBER 16, 2024
uptime and next-day funding available. Our clients can gain great leverage such as: Reliable Payment Processing: Robust money transfer transaction processes with real-time transaction reporting and data insights Fast Conversion & Settlement: Quick merchant conversions and settlements with 99.9%
dLocal and USI Money Partner to Streamline Cross-Border Payments in Asia and Africa
Fintech Finance
OCTOBER 22, 2024
Notably, over 40% of transactions take more than a day to settle, causing delays in fund availability ( FSB, 2023 ). The Financial Stability Board highlights that high costs, slow speeds, and limited access are significant challenges in cross-border payments, particularly in emerging markets.
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Cross-Border Real-Time Payments Make Tangible Progress as Over 50% Consumers Use Them, Says GlobalData
Fintech Finance
JULY 12, 2024
In its most recent update in October 2023, the Financial Stability Board reports there is a shortfall against G20 targets in the proportion of retail services that make funds available to the consumer in an hour (42% vs target of 75%) and in one business day (76% vs target of 100%).
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Mastercard Accelerates the Path Toward Real-Time Card Payments
Fintech Finance
OCTOBER 9, 2024
For the first time, all merchants in South Africa who accept Mastercard payments will receive faster payouts, empowering businesses with better cashflow management and faster funds availability.
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Mastercard Reveals Plans to Roll Out Real-Time Card Payments in South Africa
The Fintech Times
OCTOBER 10, 2024
To further Mastercard’s vision of bringing immediacy to card payments, all merchants in South Africa who accept Mastercard payments will receive faster payouts, empowering businesses with better cash flow management and faster funds availability.
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Alternative Flexible Funding is a Lifeline for UK SMEs Struggling With Cash Flow
The Fintech Times
MARCH 22, 2024
If we can’t make flexible funding available to the small businesses that need it – when and how they need it – we’re going to see more and more businesses failing. . “Last year, 345,000 businesses across the UK shut their doors for the last time. And the current financing infrastructure is at least partly to blame.
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GROW with Singlife and AllianzGI Launch SGD-Fund Offering Monthly Dividends
Fintech News
MARCH 20, 2024
The inaugural product of this collaboration is the Allianz Global Income fund, available exclusively through GROW’s network. This Singapore dollar (SGD) based fund will provide monthly dividends to investors. The Allianz Global Income fund has assets under management totaling US$ 161.7
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JCB to pilot softPOS technology for central bank digital currency transactions
NFCW
DECEMBER 14, 2023
“This JCBDC project is aimed at ensuring that CBDC fund transfers can be done securely and conveniently, by anyone, at any time, with or without internet connectivity, with an immediate guarantee of fund availability,” Soft Space adds.
DailyPay Rebrands Its Card, Adding New Merchant Cash Back Offers
Fintech Finance
SEPTEMBER 9, 2024
Actual fund availability depends on receiving financial institution and region **Requires employer participation in DailyPay, and election to deposit early transfers and set direct deposit to the DailyPay Card.
Data: Same-day ACH volume vs. fraud
Payments Source
SEPTEMBER 20, 2018
financial institutions have made same-day ACH funds available without seeing any major shifts in fraud. More than half of U.S. But observers warn that as same-day ACH introduces broader access and bigger transactions, it will become a bigger temptation for fraudsters.
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PayPal settles Venmo disclosure complaints with the FTC
Payments Source
FEBRUARY 27, 2018
The Federal Trade Commission contends Venmo misled consumers on funds availability and security disclosures.
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TikTok Shop Implements Cash Flow Solution for Sellers in Partnership With Storfund
The Fintech Times
OCTOBER 7, 2024
Money is legitimately held back by all marketplaces to ensure that sellers have funds available for refunds but this can disrupt their ability to restock and scale up. This addresses a significant disparity in e-commerce where customers can buy online in minutes, but marketplaces can delay payouts to sellers for up to 60 days.
Same Day ACH hits its third phase, mandating 5 p.m. availability of funds
Payments Source
MARCH 16, 2018
Nacha has completed the third and final phase of the faster payments launch, requiring banks and credit unions to make Same-Day ACH funds available to depositors by 5 p.m. in local time.
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NACHA Approves Expansion Of Same Day ACH
PYMNTS
SEPTEMBER 17, 2018
The first rule will allow Same-Day ACH transactions to be submitted to the ACH Network for an additional two hours every business day, while the second boosts the Same-Day ACH per-transaction dollar limit to $100,000, and the third rule increases the speed of funds availability for certain Same-Day ACH and next-day ACH credits.
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Carl Slabicki Named Chairperson of U.S. Faster Payments Council Board of Directors
Fintech Finance
JULY 24, 2024
. “I have great confidence in Carl’s ability to lead the FPC into the future to achieve our vision of a seamless payments system, where anyone can pay anyone else anytime with immediate funds availability.
Mobile to the Max
FICO
AUGUST 24, 2020
After I made the deposit I got an acknowledgement message through my banking app, letting me know the deposit would need to be validated before crediting my account and making the funds available. The deposit experience was so magical that I expected using the funds to be as quick and easy. But I had to wait until the next day.
Digital Banking Apps Vs The Establishment
PYMNTS
FEBRUARY 25, 2020
Coming in at number one with its “two days early” guarantee on direct deposit funds availability and automatic savings options, Chime has proved its popularity with the app banking crowd. The Top 5 Digital Banking Apps.
Borderless AI and Nium Transform Employer of Record Business With Real-Time Cross-Border Payments
Fintech Finance
MAY 1, 2024
Worldwide access to 190+ countries and 100 currencies, with funds available real-time in 100 markets. .” Some benefits derived by organizations like Affiniti Finance and MG2 Corporation include: Faster and more affordable cross-border payments.
EVO Rolls Out Express Deposit B2B Push Payments With Visa Direct
PYMNTS
SEPTEMBER 17, 2020
To help merchants receive faster access to funds, EVO Payments Inc. retailers instantaneously get funds for card transactions with actual fund availability depending on receiving bank and geographic area, according to a Thursday (Sept. The offering lets eligible U.S. 17) announcement.
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Hub71 Launches ClimateTech Startup Ecosystem to ‘Contribute to a Sustainable Future’ in the UAE
The Fintech Times
DECEMBER 5, 2023
Additionally, the supporting partners will collaborate to explore the future of ClimateTech, funding availability for climate ventures and pathways for startups to play a more significant role in the journey to net zero.
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SMB Funding Looks Ahead Towards A Post-Pandemic Market
PYMNTS
NOVEMBER 12, 2020
The small business financing market is in a unique position: despite market volatility and an economic downturn, funding availability remains strong for SMBs thanks to government funding initiatives. Funding Ebbs And Flows. In the U.K.,
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The Changing Landscape of Banking Experience with RTP
Faster Payments Council
MAY 17, 2021
It allows transfer fund that can be initiated through one of many channels like smart phones, tablets, digital wallets, and the website, simplifying transactions and securing them using a multiple authentication or 2FA method. Bringing together speed, data, and communication solves for longstanding challenges.
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Chime’s Expanding Banking Services Menu
PYMNTS
JANUARY 8, 2019
Chime also offers no-fee paycheck advances that make funds available to workers as soon as the deposit is initiated by the payroll provider and the bank is alerted.
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Kudlow: Third Round Of SBA PPP Loans ‘May Be’ Necessary
PYMNTS
MAY 3, 2020
Kudlow said “it may be” necessary to have more funding available. “We However, most bank industry groups have indicated that most of the $310 billion is likely already tapped due to the applications already in the queue. . Let’s not make the same mistake again.” .
NR Capital launches trade financing platform for bulk commodities
The Paypers
AUGUST 6, 2018
(The Paypers) Singapore-based NR Capital has launched a fund available to accredited investors who want exposure to asset-backed deals of USD 1 to 15 million.
Businesses Want Real-Time Payments — What Will It Take To Get There?
PYMNTS
NOVEMBER 20, 2018
That’s the idea behind the recently launched Faster Payments Council (FPC), a group of payment industry participants with the goal of providing a ubiquitous payment system with near-immediate funds availability anywhere. New PYMNTS research painted a detailed picture of how the market is seemingly ready for such transactions.
Today In Data: Finding The Right Incentive For The User
PYMNTS
NOVEMBER 21, 2018
70 percent: Share of businesses that report they would benefit from real-time payments’ instant funds availability. . The trick for operators is to find ways to start on that convenience, and build an increasingly attractive and functional offering for consumers. . .
Western Union Rolls Out Full API Access For International Payments
PYMNTS
OCTOBER 28, 2019
Receivers will have funds available to spend within minutes, enabling real-time, cross-border, cross-currency payments capabilities for C2C, B2C and B2B use cases. At least 100 additional countries are being evaluated for enablement of real-time payment capability by the end of 2020.
Fourteen Months In, Extra Credit For Faster (ACH) Credit?
PYMNTS
DECEMBER 13, 2017
But others are pushing forward, particularly with respect to funds availability. Want to assign a grade to the requirement to make Same Day ACH funds available by 5:00 P.M.? Give it an “A” said Herd, as 66 percent of FIs are already making Same Day ACH funds available, well ahead of the March 2018 deadline.
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BoE Cuts Interest Rate, Launches SMB Incentives To Cope With Coronavirus Impact
PYMNTS
MARCH 11, 2020
As part of the economic plan, the B0E is making additional funds available to FIs that increase lending, especially to SMBs. billion) in term funding, based on its experience with a previous program in 2016. The central bank said it anticipated the program could provide more than £100 billion ($129.5
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Fed Becomes Founding Sponsor Of Faster Payments Council
PYMNTS
DECEMBER 5, 2019
so people can make secure payments anytime or anyplace, with near-real-time funds availability. We can collectively achieve safe, widely available faster payments capabilities that will benefit all by working together with the U.S. She is also a sponsor of the Federal Reserve’s payments improvement initiative.
U.S. Faster Payments Council Releases First Edition of Faster Payments Fraud Survey and Report
Faster Payments Council
MARCH 8, 2022
Faster Payments Council (FPC) The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. payment system.
U.S. Faster Payments Council Releases First Edition of Faster Payments Fraud Survey and Report
Faster Payments Council
MARCH 8, 2022
Faster Payments Council (FPC) The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. payment system.
Neiman Marcus Emerges From Chapter 11
PYMNTS
SEPTEMBER 28, 2020
With the support of its new shareholders and funds available from financing, Neiman Marcus said it expects to be able to execute on the strategic initiatives to ensure a long and successful future for Neiman Marcus.
Bridging Digital And Paper For Policyholders, Insurers
PYMNTS
JUNE 25, 2020
“Sending out a check requires policyholders to wait for a week, sometimes longer, to get much-needed funds after an accident or crisis. We have been working closely with large P&C insurance carriers to uniquely meet their needs and [those of] their policyholders,” Reuter said.
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PYMNTS
SEPTEMBER 15, 2017
71 percent | Percentage of financial institutions making end-of-day funds available as of May 2016. Here are the numbers: $57 billion | Same-day ACH credit transactions between Sept. 2016 and July 2017. 50 million | Same-day ACH credit transactions NACHA projects will occur this calendar year. 2016 and July 2017.
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BNY Mellon, GTreasury Team For B2B Cash Management
PYMNTS
SEPTEMBER 24, 2020
Customers of the bank will have the capacity to sweep money into funds available on LiquidityDirect without exiting GTreasury infrastructure. "The GTreasury ecosystem is purpose-built to seamlessly connect into investment portals like LiquidityDirect.". As it stands, LiquidityDirect supports over $6.5
SumUp, Mastercard Intro Business Payments Card
PYMNTS
FEBRUARY 18, 2020
The new card was developed to streamline end-to-end processes — point of sale (POS), payments, funds availability. SumUp said that 2 million merchants worldwide use its technology, with 5,000 people joining daily. Beta-testing was successfully conducted with a sampling of more than 25,000 merchants.
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U.S. Faster Payments Council Publishes Interoperability Research Report
Faster Payments Council
JUNE 22, 2021
Faster Payments Council (FPC) The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. payment system.
U.S. Faster Payments Council Shares Results from 3rd Annual Faster Payments Barometer
Faster Payments Council
FEBRUARY 2, 2022
Faster Payments Council (FPC) The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. payment system.
U.S. Faster Payments Council Publishes Interoperability White Paper
Faster Payments Council
JUNE 3, 2020
Faster Payments Council (FPC) The FPC is an industry-led membership organization whose mission is to facilitate a world class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. payment system.
U.S. Faster Payments Council Launches New Work Groups Focused on Financial Inclusion and Real-Time Recurring Payments
Faster Payments Council
FEBRUARY 18, 2021
Faster Payments Council (FPC) The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. payment system.
Faster Payments Go Live In Hong Kong
PYMNTS
SEPTEMBER 27, 2018
Users can transfer money across different banks or SVFs, with funds available almost immediately. “It makes retail fund transfers and payments much quicker and easier. The FPS operates 24/7 to connect banks and stored-value facility (SVF) operators on the same platform.
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