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FPC 2022 Fall Member Meeting

Faster Payments Council

Thursday, September 15 8:00am-9:00amCT: Networking Breakfast, sponsored by Open Payment Network (St. Payments as a Lifeline (PaaL) will also be hosting a roundtable discussion on Humanitarian Aid during disasters. Bus transportation to Target Field will be provided starting at 5:00pm from the hotel lobby.

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The State Of Faster Payments: ‘Early Innings’

PYMNTS

based digital payments network that has gained traction among individual customers and, of course, a growing list of participating U.S. The flip side, as Webster added, is that when payments are done instantly and on demand, they are irrevocable. We’re not at the end; we’re [toward] the beginning.

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Why FedNow Will Slow Real-Time Payments

PYMNTS

For the dwindling numbers of people who still receive a physical paycheck, new applications let workers take a picture of that check and get instant, irrevocable access to the funds for a modest fee. But a handful of the 12,000 FIs and 51 percent of deposits does not a real-time payments network make.

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The Complicated — And Increasingly Crowded — Payments Battle In China

PYMNTS

Some question whether the card-payment network operator will be able to overcome the struggle to “remain relevant” in a market that is quickly changing — and where consumers may soon be leaving card-based payments behind entirely. UnionPay is facing an increasingly competitive and complicated world these days.

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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

The letter highlighted the role of faster payments as a panacea to financial inclusion problems in the U.S. The letter highlighted that access to the payments systems today is only possible through incumbent intermediaries – the banks and the card networks – which have not kept pace with the needs of consumers and businesses.

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Happy First Birthday FedNow: But is This a Cause For Celebration?

The Fintech Times

In fact, in 2023 , real-time payments only made up one per cent of all payments in the country. Up to this point, US financial institutions have relied on The Clearing House ‘s (TCH) Real-Time Payments Network (RTP), run by big banks. What is actually popular?

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Fighting Scams and Authorized Push Payment Fraud in the US

FICO

It was even more surprising to me that the CEOs didn’t have the data right in front of them, given the signals coming from regulatory bodies like the Consumer Financial Protection Bureau (CFPB) about the need for more oversight for real-time P2P payments networks. That idea of authorization is where deep divisions start to appear.

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