Payment Savvy

MAY 16, 2023

However, there are factors that can impact the transfer time: The time of day for the transfer The bank’s processing schedule Network transaction volume Additionally, ACH transfers only occur on business days, so weekends and holidays can also affect the processing time.

ACH

PYMNTS

JANUARY 15, 2018

Last June, NACHA and the Credit Research Foundation said that at present, paper checks make up half of B2B transactions received in the accounts receivable department; ACH accounts for less than a third. Use of faster payments technologies, too, remains limited in the B2B sphere.

B2B

Finovate

OCTOBER 15, 2024

The company launched the new entity, Payfinia , to provide instant payment solutions to both financial institutions and third-party organizations. Payfinia aims to help financial institutions access and establish ownership of their instant payments services. Tyfone announced the formation of a new spinout today.

Instant Payments

PYMNTS

FEBRUARY 6, 2020

In today’s market of real time, legacy payments infrastructure needs a facelift. The ability for real-time settlement to essentially erase the risk of a bounced check or insufficient funds can be an attractive proposition for businesses. How does it change people’s jobs and the way they do business?”.

Settlement

PYMNTS

OCTOBER 11, 2018

Whether you are new to banking, don’t have regular paychecks or typically manage money with cash, we believe the Greenhouse experience can help you manage day-to-day spending while planning for the future.”. Even so, the enterprise is still unsure about faster and real-time payments. In the U.S.,

Faster Payments

PYMNTS

OCTOBER 21, 2019

The decision will be made based upon an array of factors, including which payment method offers the lowest cost to the payer, enables the fastest delivery and other parameters pre-established by the treasurer client. If not, the payment will then automatically be initiated via ACH.

Faster Payments

PYMNTS

JANUARY 12, 2017

As faster payments solutions aim to offer financial institutions and banks a quicker means of exchanging money, a potential roadblock awaits their successful adoption. Not so much, said Richard McShirley, CMO of linked2pay , a provider of cloud-based payment solutions. Namely, are banks ready to take the risk?

Faster Payments

PYMNTS

SEPTEMBER 19, 2019

It’s not as if firms lack interest in improving the speed of B2B payments. A majority (55 percent) of corporate professionals identified real-time payments as their top B2B payment service priority, according to the Real-Time Payments Innovation Playbook. With innovation comes new challenges.

B2B

PYMNTS

DECEMBER 4, 2019

While firms like Diamante and SatoshiPay embrace blockchain, traditional players like Wells Fargo and HSBC are relying on RTP to accelerate corporate payments. HSBC Bank is introducing real-time payments capabilities to its corporate clients by connecting into the RTP network, allowing businesses to send and receive RTP payments.

B2B

PYMNTS

AUGUST 4, 2017

“Speed and convenience certainly have become priorities for customers these days,” Giorgio said. Faster Payment Options For SMBs. With the platform in place, ICBA members can easily access ACH solutions, remote deposit capture and card payment transactions. Faster Payments Are Here To Stay’.

Community Banks

PYMNTS

DECEMBER 31, 2019

Businesses can also look beyond their banks’ traditional solutions. FinTechs provide many services that can streamline firms’ AP processes, and almost one-quarter of businesses reportedly plan to boost their use of FinTech payment solutions in the next three years.

Process

PYMNTS

AUGUST 3, 2017

Detecting fraud early and efficiently is a growing concern for all parties as faster payments rise. A separate report from fraud prevention solutions company GIACT points to potential fraud risks that could arise when Same Day ACH debits roll out in September 2017.

Community Banks

PYMNTS

OCTOBER 23, 2019

Meanwhile, both PNC Bank and Bank of America introduced new solutions designed to ease friction in B2B payments by embracing a range of existing rails. It’s both a show of support for a new rail like RTP, as well as for the strategy to improve upon legacy rails like ACH.

Faster Payments

PYMNTS

MARCH 2, 2016

Clearly, the investments and interest in blockchain technology are real, but will it ultimately be the technology used as the foundation for the financial industry’s real-time payments solution? The Power Of Payments.

Faster Payments

PYMNTS

SEPTEMBER 13, 2018

This embrace comes as corporates are just starting to work with faster payments. Data from NACHA – The Electronic Payments Association shows that roughly 6 percent of the two million same-day ACH transactions made in the 11 days since launch were B2B transactions, signaling room for growth.

Cross-Border Payments

PYMNTS

JANUARY 2, 2017

That’s a problem that San Francisco-based Wyre is offering to solve with its real-time cross-border payment solution. “We We are trying to get [merchants] away from the idea that waiting three days for payments is efficient,” said Michael Dunworth, cofounder and CEO of Wyre.

Cross-Border Payments

PYMNTS

JANUARY 2, 2017

It was a busy year throughout the world of payments, with plenty of new technology making headlines along the way. As the year opened, our inaugural Faster Payments Tracker™ looked at the looming arrival of the new Same Day ACH. FASTER PAYMENTS TRACKER. But what if there were other, “sexier” solutions?

ACH

PYMNTS

SEPTEMBER 30, 2016

Faster Payments. It’s not that real-time payments are bad or even a fizzle. SWIFT has its thing, IBM is doing something else and allegedly with The Clearing House and Vocalink (although it’s been crickets from TCH for quite some time). It’s one big hot faster payments mess since.

CFPB

PYMNTS

MARCH 7, 2016

Now it’s still early days, but there’s not a whole lot of evidence that consumers and businesses have gravitated, en masse, to many real time payments solutions. In other words, it’s a teeny and tiny part of the payments mix in the countries where it was required to happen. Here in the U.S., Here in the U.S.,

Online and Mobile Banking