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Carvana launches real-time down payment capabilities

Bank Automation

Carvana has implemented request for payments technology and instant payments capabilities for down payments on vehicle purchases, allowing consumers to obtain their vehicle faster.

RFP
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The Clearing House On The Race for Real-Time Payments In The US

PYMNTS

These efforts include TCH’s efforts to connect financial institutions’ (FIs’) core banking systems to the company’s Real-Time Payments (RTP) network, along with what card networks and FinTechs are doing to enable real-time push payments to receiver bank accounts.

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Deep Dive: Billing And The Use Of Real-Time Payments

PYMNTS

When The Clearing House (TCH) unveiled the Real-Time Payments (RTP) system in 2017, it propelled swifter payments and brought about the next generation of fund transfers. It wasn’t the first to roll out such a system, but it was the first “major payments upgrade” in the U.S. in approximately four decades. .

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Broadridge Launches Instant Payments Service, Aligned with New EU Regulations

Fintech Finance

Instant payments are expected to become the industry standard, particularly for recurring transactions such as bill payments. The growing adoption of request for payments is anticipated to further drive this shift, making instant payments the preferred method for financial services.

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The Real-Time Disruption Of Banking And Business

PYMNTS

Faster payments are only one example of the effects of a world moving toward real-time everything, with growing customer demands driving change in the way banks and businesses operate themselves. As such, the consequences of real-time payments aren’t solely impacting consumers’ peer-to-peer ( P2P ) transaction activity.

RTP
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Treasury Prime Taps Narmi to Offer Instant Payments

Finovate

Embedded banking software provider Treasury Prime partnered with digital banking solutions company Narmi. Banks in the Treasury Prime network will be able to offer their BaaS clients access to a real-time payment platform via Narmi’s FedNow service.

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The State Of Faster Payments: ‘Early Innings’

PYMNTS

However, the industry is evolving — quickly — to embrace speed, and it is expected for there to be as many as 56 real-time payment schemes live or underway by the end of next year. It’s another set of capabilities, but the older ones do not go away.”. Thus, the needle moves from mere transactions to interaction, he said.