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UK Faster Payments Scheme Eases Access For Developers

PYMNTS

The scheme offers real-time credits for payments made online, via mobile device and over the phone, when payments are valued at about $300,000 or less — making it a main player in P2P and SME payments. Last week, Faster Payments aimed to ease the friction associated with getting financial service providers on board with the scheme.

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Fed Says America Needs Instant Payments As Soon As Possible

PYMNTS

The Fed is defining instant payments as a subset of payments in which an end user receives funds in near real time, with immediate interbank settlement of the payment also having occurred. The most recent details on FedNow come roughly a year after the central bank announced its plans to build and operate real-time rails.

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