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Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. Then came PayPal’s debut of Instant Transfer to Bank. See PayPal and Hyperwallet – and RTP via Chase. A Couple of Important Dots.

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Why Certainty Rules Payments

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He has a PayPal account, so that’s how I’ll pay him today. Or to buff up PayPal. But to remind all of us that payment innovations are only as good as the certainty those innovations deliver to their intended users. The outcome, however, using PayPal , is more certain for both the sender and the receiver.

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The Big Tech Canary In The Faster Payments Coal Mine

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That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S. FIN members include Amazon , Apple , Google , Intuit , PayPal , Stripe and Square. are moving faster than they ever have.

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PODCAST: Solving Instant Payments Ubiquity Problem

PYMNTS

And for good reason, Ingo Money CEO Drew Edwards noted in a recent conversation with Karen Webster and Ingo Executive Vice President and Chief Product Officer Lisa McFarland — instant payments present a world of interesting possibilities for creating better consumer experiences across a wide range of uses.