Remove Good Funds Remove Ubiquitous Remove Use Case
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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

where almost everyone is now banked) and made the case for why the Fed was positioned as the best player to operate a ubiquitous, interoperable real-time payments network – even though the Fed doesn’t have a great track record at payments innovation ( #killthecheck ). It isn’t real-time, but it seems good enough for a lot of use cases.

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Breaking Down The Faster Payments Construct

PYMNTS

In just a matter of days, the payments industry will see a significant — and ubiquitous — change in the way payments are sent and received. Take merchant acquirers who wish to expedite the posting of funds on the same day to a merchant’s bank account. banks and credit unions the ability to better serve their customers.

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Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

Meanwhile, there are already two ubiquitous faster (than before) payments rails in the U.S.: Card rails are using push payments to close those gaps and support many new use cases for instant money. as of January 2019. Faster Payments Is Happening, Fast. See First Data and Fiserv. See Mastercard and VocaLink and Transfast.

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The Roil Over B2B Payments Rails

PYMNTS

Instead, it’s a lack of certainty that good funds are on the way — and when they’re expected to arrive. When funds settle isn’t much of a friction, since, with that information in hand, decisions about cash and working capital can be made. who today already have access to an ubiquitous faster payments scheme called same-day ACH.

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Why Certainty Rules Payments

PYMNTS

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.

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