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Pay by bank transactions are less than card transactions and can offer faster settlements due to real-time or nearreal-time settlements. This can improve cash flow as funds from bank transfers can be deposited into the merchant’s account in realtime. Also, there is enhanced security.
. “What kind of data comes along with the payment, how is it formatted, what does it look like, and how are systems capable of accepting that information to apply payments in back-end systems?” “There is no silver bullet,” said Thorness.
In the latest iteration of the “Executive Insight” series, executives at Citigroup take stock of the treasury function evolution from a somewhat predictable, visible monitoring of cash positions on a daily or weekly basis, marked by batch processing … to today’s necessity of managing cash in near-real-time, sometimes pressure-cooker situations.
This shift is propelling an increase in low-value payment transactions, effectively displacing cash from the equation. Another key trend is the rise of P2P payments. Alternative payment methods and e-wallets are revolutionising how people transact, providing nearreal-time fund transfers.
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