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The tipping point toward real-timepayments’ ubiquity might be closer than many observers think, Mark Ranta , payments practice lead at FinTech Alacriti , told PYMNTS in a recent interview. And beyond TCH and RTP, the Federal Reserve’s FedNow real-timepayments solution looms.
That includes advancements in Canada's upcoming Real-Time Rail, as well as adoption by Transcard of Mastercard's Track Business PaymentService to facilitate real-time, account-to-account transfers for businesses. Canada Taps Vocalink for Real-Time Rail.
“Many banks see Zelle as doing a good enough job, but Zelle only solves part of the instant payment puzzle. Corporate usecases – the biggest opportunity for US banks – are being left on the table opening the door to first moves and fintechs to grab market share.”
market to achieve payments interoperability between faster payment systems, with nearly half suggesting that this be achieved within four years. More than one-fifth, however, suggested that interoperability be achieved as soon as the Federal Reserve release its FedNow real-timepaymentsservice.
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