PYMNTS

FEBRUARY 1, 2021

To get a sense of the present state — and future — of instant payments, look to Italy. It has pulled ahead of its EU neighbors in developing real-time payments technology and in recruiting banks to adopt it. These days that “stable and efficient growth” has a lot to do with real-time payments.

Real Time Payments

PYMNTS

AUGUST 12, 2019

That’s the talk track now from the Fed , which a week ago today announced its plans to build and operate a new set of real-time rails, using accelerated access to employer paychecks as its launch use case. It’s also not why the Fed decided to enter the real-time payments fray. The Real-Time Payday Reality.

Real Time Payments

PYMNTS

DECEMBER 24, 2020

If there was a defining trend for payments in 2020, or a trend that gained the most traction compared to 2019, it was buy now, pay later (BNPL). Contactless payment methods were always in the wings for credit card companies, but the pandemic pushed them front and center. PYMNTS research shows 11.5 Contactless.

RTP

PYMNTS

JANUARY 8, 2021

Whether it was helping small businesses get their PPP payments or convert to eCommerce, getting cash in the hands of workers delivering food, or accommodating digitized mortgage closing and escrow activity, the coronavirus has foisted a lot of change on the financial services industry in a short amount of time. “A

RTP

FICO

APRIL 20, 2023

According to FICO’s latest survey of consumers from 14 countries around the globe, 90% of all consumers have sent a real-time payment, and at least 95% of consumers have used real-time payments in India , Indonesia , the Philippines , and Brazil.

Real Time Payments

PYMNTS

JANUARY 21, 2020

He noted that, with partners like Visa and ACI Worldwide, its “intuitive and customizable” Direct Rapid Funds platform gives companies of any size “access to cutting-edge payments solutions.” The platform uses push-to-card payments technology to offer faster payments to all corporate clients. .

Real Time Payments

PYMNTS

JANUARY 21, 2021

They can eliminate the pain points in business-to-consumer (B2C) transactions by keeping consumers from waiting to receive their funds, while businesses are witnessing the advantages of using real-time payments when transacting with each other. Around The Real-Time Payments World.

Real Time Payments

PYMNTS

NOVEMBER 25, 2020

Slow payments have long frustrated businesses and consumers, forcing the former to readjust their timelines as they await funds and prompting the latter to put off purchases as they watch for transactions to finalize. PYMNTS’ data revealed that many consumers are now seeking real-time access to their funds, with 35.2

Payroll

PYMNTS

DECEMBER 6, 2017

PNC announced it is now live on The Clearing House’s real-time payments network RTP, according to a press release published on Tuesday (Dec. The financial institution (FI) has linked into RTP in the U.S. via Finastra ’s Fusion Payments, a payment services platform.

Real Time Payments

PYMNTS

MARCH 14, 2019

The movement to bring blockchain to cross-border payments proceeds apace. I think that it’s really interesting, everything that’s gone on in the payments space around DLT.”. Once we get the merchants and the big institutions recognizing the benefits of RTP, then adoption will rapidly settle in. One caveat?

SWIFT

PYMNTS

MARCH 18, 2019

Take two announcements from just last week, related to the evolution of faster payments in the U.S. First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. And finally, that the banks and the card networks are the big losers.

Faster Payments

PYMNTS

OCTOBER 30, 2020

The demand for faster payments is ringing louder than ever during the economic downturn. Businesses need to maintain smooth revenue streams and are working hard to avoid being hit with painful late client payments or delayed access to their earnings while also ensuring their workers are paid promptly.

Faster Payments

PYMNTS

AUGUST 6, 2019

Introduced on Monday by Federal Reserve Board Governor Lael Brainard, the Fed’s instant payment scheme FedNow is designed to offer an option for consumers and business to transfer money instantly or nearly instantly in a “ubiquitous, safe and efficient” manner from one bank account to another. financial system and the U.S. Brainard asked.

FedNow

PYMNTS

SEPTEMBER 26, 2019

Consumers, businesses and governments are seeing faster payments as a path to greater convenience and financial security, and this growing demand is spurring payments services providers (PSPs) to meet this need in a swift, secure manner. Common forms of pull payments include debit cards and paper checks.

Payer

PYMNTS

NOVEMBER 1, 2018

The influx of freelancers is pushing companies to adopt even faster methods of disbursements to satisfy their need for payment speed. That means an end to the days of sending paper checks through the mail, and increased reliance on payment solutions that are often built right into the service itself. Within the U.S.

Instant Payments

Finovate

SEPTEMBER 20, 2024

Walmart is partnering with Fiserv to enable pay-by-bank payments for online purchases starting in 2025. Benefits to Walmart include lower transaction costs, faster settlement, reduced fraud, and fewer payment declines, while customers can avoid stacked pending transactions. FedNow and RTP, they don’t necessarily talk to one another.

FedNow

PYMNTS

JULY 27, 2020

Banks missed out on the first big wave of digital payments, but they don’t have to miss out on the next, Ingo Money CEO Drew Edwards told Karen Webster in a recent conversation. The entire [digital payments] industry ends up being created outside the banks on products that should have been developed by them,” Edwards said.

On-Demand

FICO

APRIL 26, 2023

Because of the incredible growth of both RTP and scams (which is a topic I’ll address in depth in an upcoming FICO World 2023 panel discussion), banks must consider how this payments evolution is impacting customers. Home Blog FICO Survey: Do Customers Think Banks Are Fair to Scam Victims? Are Banks Fair with Victims of Scams?

Scams

PYMNTS

OCTOBER 7, 2019

The good news for customers — and the challenge for financial services players, both established and emerging as the decade comes to a close — is that when it comes to payments, this is the era of customer choice. Second, whatever one builds must easily and safely live in the payments infrastructure they’ve created that undergirds the system.

Instant Payments

PYMNTS

OCTOBER 29, 2020

Paper checks have long been a mainstay of corporate payments, with 42 percent of companies reportedly using checks to pay vendors in 2019. They face an array of options to help them with their acceleration efforts, with some choosing to start delivering payroll via push-to-card offerings or directly into workers’ digital wallets, for example.

Faster Payments

PYMNTS

DECEMBER 30, 2020

At Mastercard , Executive Vice President of North America Products and Innovation Jess Turner told Karen Webster in a recent discussion, the rapid acceleration has been pushed by what consumers both wanted and needed more than ever. And those shifts aren’t likely to go away, Turner said. Meeting The New Digital Consumer’s Needs.

Consumer

Tearsheet

MARCH 27, 2024

Workers have the option to receive EWA funds at no cost within 1-3 days via ACH, or they can opt to have their direct deposit sent to a reloadable Visa debit card, named Friday by DailyPay. Alternatively, DailyPay charges a fee if employees choose to instantly send EWA wages to a card or account.

Instant Payments

PYMNTS

JANUARY 3, 2020

Grade schools and colleges could use a massive textbook dedicated to payments – their own. Many schools get an F when it comes to payments, but the culprit might actually be the infernal “paper jam.” The writing is on the whiteboard: School’s out for paper payments. In Q3 2019, credit card issuer JCB International Co.,

Faster Payments

Fintech Finance

MAY 30, 2024

Today at the annual Visa Payments Forum for Central and Eastern Europe, Middle East and Africa, Visa unveiled a suite of new products and services that will ­revolutionize the card and address the future needs of consumers, merchants and the financial institutions that serve them across the region.

Online and Mobile Banking

PYMNTS

OCTOBER 23, 2019

Adoption of any new payments service does not happen overnight. And when it comes to 24/7 real-time payments, adoption by businesses, and by consumers, will be pushed ahead use case by use case and transferring funds between accounts in minutes or seconds will gain traction. Tsunamis of change are built on waves.

Visa

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

DECEMBER 26, 2018

Don’t think of them as mere podcasts — though PYMNTS certainly does a lot of podcasts, discussing with payments and commerce experts the hottest topics of the day, with each conversation not only digging into the past and present but having an outlook toward the future. No, think of them as miniature seminars. The Rise of Contextual Commerce.

Cross-Border

FICO

MARCH 30, 2023

I will sheepishly admit that since post-COVID travel has picked up again, I’ve found myself traveling with physical card or two crammed into my minimalistic ID-holder, just for rare cases where digital won’t work. Notes and coins are only expected to make up about 6% of payments in the UK within the next 10 years.

Scams

PYMNTS

JULY 5, 2019

Going by a simple perusal of headlines, cross-border was, has been and will be in the crosshairs of many a payments player, across many a strategy, via fiat or digital coins, aiming to fix what’s broken in transactions done across currencies – especially in B2B. Mastercard: Why Nordic Countries Could Fuel RTP Push.

RTP

PYMNTS

DECEMBER 27, 2019

The word is out about instant payments — a fact made largely indisputable by the numbers. When we asked in 2017 how many consumers have received an instant payment, the answer was a mere 11 percent. The numbers go beyond awareness. Instant disbursements are also picking up steam where it really counts — usage.

Instant Payments

PYMNTS

DECEMBER 29, 2020

Morgan Chase has agreed to acquire the rewards division of cxLoyalty Group Holdings to help expand its rewards content in categories such as merchandise, gift cards and travel. 28) to pass legislation raising individual stimulus check payments to $2,000 instead of $600, in line with a call from President Donald Trump last week.

RTP

FICO

MAY 3, 2023

Their top five responses provide a blueprint of customer-friendly steps banks can take to counter RTP scams and improve customer experiences when scams occur. Action: Detecting a scam as it unfolds in real-time is the ideal way to stop scams from happening.

Scams