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.

Faster Payments 97

Faster Payments FPC FedNow RTP 97

Fintech Finance

DECEMBER 12, 2024

Open banking sets a new standard for payment management in the utilities sector The first of its kind platform uses Ordo’s disruptive Variable Recurring Payments (VRP) solution (powered by Open Banking) to allow customers to authorize payments directly from their bank accounts to businesses on a recurring basis.

Payments 98

Payments Blockchain Authorization AI 98

Faster Payments Council

FEBRUARY 18, 2021

The Real-Time Recurring Work Group will promote the development and adoption of real-time recurring payment solutions to be used by business end users and financial institutions. The list of use cases for real-time recurring payments has grown substantially in recent years. payment system.

Financial Inclusion 68

Financial Inclusion Faster Payments FPC Cross-Border Payments 68

PYMNTS

SEPTEMBER 23, 2019

Western Union CEO Hikmet Ersek told Karen Webster that real time means that receivers will have funds available to spend within minutes, enabling new real-time, cross-border, cross-currency payments capabilities for C2C, B2C and B2B use cases. “We

Accounts 82

Accounts Cross-Border Cross-Border Payments Real Time Payments 82

Faster Payments Council

JULY 21, 2020

Results from the survey indicated that bill pay ranked as one of the top three use cases for both FIs and businesses with nearly 60% of respondents indicating it as a top priority. Given these findings, the FPC and Glenbrook positioned bill pay as the subject for a second round of qualitative research. payment system.

Faster Payments 68

Faster Payments FPC Research Consumer 68

Paystand

DECEMBER 3, 2024

Use Cases : Push-to-card payments are widely used for peer-to-peer transfers, insurance claim payouts, gig worker earnings, and contractor payments. How It Works : These payments leverage card networks like Visa and Mastercard to process real-time disbursements securely and efficiently.

Push-to-Card 40

Push-to-Card Credit Cards Funds Availability Payments 40

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.

Same Day ACH 40

Same Day ACH ACH NACHA Payroll 40

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.

International Payments 51

International Payments API Payment APIs and Integration Cross-Border 51

Faster Payments Council

NOVEMBER 3, 2019

Participants were asked to select from 16 options which use case their organization was currently most interested in for faster payments. and enrich the industry dialogue by introducing new topics, such as cross-border and emerging use cases." Contact: Elizabeth Grice U.S. payment system.

Faster Payments 68

Faster Payments FPC Interoperability Payments 68

PYMNTS

NOVEMBER 9, 2017

Fifty-five percent of these FIs see emergency payroll as a very or extremely important SDA credit use case, and 41 percent see loan payments as the top SDA debit use case. For FIs, debit use cases are two times more likely to be important than credit use cases.

Same Day ACH 41

Same Day ACH ACH NACHA Origination 41

PYMNTS

SEPTEMBER 15, 2017

Amid the robust use cases, NACHA is seeing three that are prevalent thus far. One widely embraced use case comes through payroll processing for missed/emergency payroll or hourly or daily workers, with other uptake based on P2P payments and B2B payments. But then again, the practice is not an unknown one.

Same Day ACH 48

Same Day ACH ACH NACHA Debit Transaction 48

PYMNTS

NOVEMBER 20, 2020

Instant access to funds, however, could help these employees better meet their financial obligations despite these hurdles. . These use cases could spur more interest in such offerings as organizations look to swiftly issue funds onto virtual or physical payroll cards by using systems like card rails.

Payroll 78

Payroll Push-to-Card Direct Deposit Debit Card 78

Faster Payments Council

FEBRUARY 2, 2022

The FPC conducted the latest survey of payments system stakeholders to gauge progress and perceptions around faster payments, trends, use cases, and challenges in the United States. Faster Payments Council (FPC), in partnership with Glenbrook Partners, today released results from the 3rd annual Faster Payments Barometer.

Faster Payments 68

Faster Payments FPC Interoperability Cross-Border 68

PYMNTS

DECEMBER 15, 2017

The card network is hoping that’s the case, as it rolls out the first use case stemming from its recently launched global prepaid money management platform. Those physical and virtual prepaid products can be used to pay online and at stores, anywhere Mastercard is accepted.

Visa 53

Visa P2P Use Case Issuers 53

PYMNTS

SEPTEMBER 24, 2019

Receivers will have funds available to spend within minutes, enabling new real-time, cross-border, cross-currency payments capabilities for C2C, B2C and B2B use cases. The company announced on Monday (Sept.

Cross-Border 43

Cross-Border B2C Real Time Payments Funds Availability 43

PYMNTS

FEBRUARY 6, 2018

And the third and final stage, which requires FIs to make credit and debit funds available by 5:00 p.m. Whether it’s SDA credits or SDA debits, one of today’s most popular use cases for same-day ACH is account-to-account (A2A) transfers. percent of companies use SDA credits for A2A transfers, while 25.8

Same Day ACH 43

Same Day ACH Faster Payments ACH NACHA 43

Payment Savvy

MAY 16, 2023

Instant ACH transfers are a modern innovation in digital payments, allowing for near-real-time movement of funds between bank accounts. Unlike traditional ACH transfers, which can take several days to process, instant ACH transfers significantly reduce the waiting time, making funds available to recipients within minutes.

ACH 94

ACH Same Day ACH Direct Deposit Consumer Financial Protection Bureau (CFPB) 94

PYMNTS

NOVEMBER 28, 2016

Naturally, one of the first use cases to come to mind for real-time payments is P2P payments. Corporates often want to make disbursements available to payees faster, Hay explained. For instance, loan firms will want to make funds available to a borrower much more quickly than before.

Faster Payments 54

Faster Payments Real Time Payments Payments Instant Payments 54

PYMNTS

SEPTEMBER 26, 2019

These methods have subtle distinctions as well as different advantages, risks and use cases. This month’s Deep Dive explores how push payments speed transactions, as well as the benefits and potential challenges of their use in real-time payment systems. When ‘Pull’ is Not Fast Enough.

Payer 67

Payer Push-to-Card Real Time Payments Payee 67

PYMNTS

SEPTEMBER 27, 2019

Coverage this week includes a new Amex financial service, deep looks at real-time payments and the woes at WeWork, advances in voice retail and payments, a potential new opportunity for financial institutions, and original PYMNTS research into use case for artificial intelligence. Amex Launches Pay By Bank.

FinTech 46

FinTech Real Time Payments Cross-Border Legal 46

PYMNTS

AUGUST 26, 2016

Suresh Ramamurthi, CEO of Yantra Financial, said in an interview with PYMNTS that BlastPay helps “bridge a gap in liquidity” — one that can be as simple as a firm (or individual) looking to buy an item or service yet not having the funds available to do so, even during the loan process.

B2B 41

B2B Direct Deposit Small Business Underwriting 41

PYMNTS

JUNE 20, 2018

Thus, the business owner must dip into working capital to float the business until then – perhaps even dipping into personal funds. Push payments may have had their initial sweet spot with consumer use cases, but the landscape is changing. Think of it, said Wade, as stepping on the gas pedal for push payments.

Settlement 44

Settlement Push-to-Card Credit Cards Small Business 44

PYMNTS

APRIL 8, 2016

And so is the use case for real-time versus simply faster — particularly because each of the terms has different use cases and different characteristics. 23, 2016, followed by Same Day ACH debits in 2017, and then faster ACH credit funds availability requirements for RDFIs as the third phase. In the U.S.

Faster Payments 40

Faster Payments ACH Network Same Day ACH ACH 40

PYMNTS

OCTOBER 8, 2019

“In either case, the consumer is going to say, “oh, cool, I got my money right away.” However, enablers of instant money assume the risk between the time when they make funds available and when settlement happens later.”. That’s particularly true when funds are truly instant — meaning they are irrevocable.

Instant Payments 49

Instant Payments Push-to-Card Payments Settlement 49

PYMNTS

SEPTEMBER 17, 2018

Consumers know that payment methods bearing their brand are accepted at tens of millions of merchants globally and that when they use those products, they work reliably. Retail payments innovators have tapped into that ubiquity-driven certainty to enable new use cases that extend their reach. That creates certainty.

Rules 78

Rules Zelle Payments PayPal 78

PYMNTS

MAY 22, 2018

[developed] 95 percent fast funds coverage.”. This means, she elaborated, that issuing banks will receive and post transactions immediately, making them available to consumers right away. Use cases, she said, have expanded beyond P2P and have grown to encompass disbursements, as noted above.

Push-to-Card 40

Push-to-Card Same Day ACH ACH Payments 40

PYMNTS

NOVEMBER 13, 2018

Just taking that and scanning it into a digital ID, and then perhaps adding something like a biometric identifier, creates a very robust piece of identity, Anderson said — too robust, in fact, for most use cases.

Credential 73

Credential Consumer Government Governance 73

Nanonets

MARCH 21, 2023

The approver verifies that the requested goods or services are necessary, the pricing is reasonable, and that there are sufficient funds available in the budget to cover the purchase. Their platform uses computer vision and natural language processing to extract data from documents, and automates manual data entry tasks.

Automation 52

Automation Process Payment Gateways Addressing 52

PYMNTS

MARCH 7, 2016

the financial services industry has worked itself into a lather to move heaven, earth and 13K banks toward a faster payments solution — or should I say solutions — that would allow originating banks to move money to a receiving bank and for that receiving bank to make those funds available to those consumers instantly.

Online and Mobile Banking 46

Online and Mobile Banking Payments Same Day ACH Financial Inclusion 46