Faster Payments Council

SEPTEMBER 23, 2023

The RFP Customer Experience Work Group selected consumer-to-business bill pay as an initial use case, producing industry standards focused on this goal. Participating organizations will share insights gained and how they will implement these standards to catalyze instant payments adoption with a streamlined RFP customer experience.

FPC 88

FPC Federal Reserve RFP Faster Payments 88

PYMNTS

APRIL 2, 2019

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. Payment solution providers are now also getting in on the real-time game and supporting a growing list of RTP use cases that use the network for rapid transaction speeds.

Real Time Payments 49

Real Time Payments RTP Payer Irrevocability 49

PYMNTS

NOVEMBER 18, 2020

Research shows that 90 percent of consumers think getting paid faster is better than getting paid more slowly. It’s more the fact that big banks are so segmented and siloed that what’s available in one part of the organization — say, Zelle or RTP — might not be in any way connected to a firm’s treasury-banking operation.

Instant Payments 87

Instant Payments Treasury Visa Payments 87

FICO

AUGUST 26, 2021

Furthermore, Research and Markets forecasts that instant payments will comprise just one-fifth of total transactions in the US through 2024. Request for pay (RfP) . Still, the US market lags in real-time payments size and adoption. in addressable payment volume. P2P real-time transactions. The Federal Reserve is a second key player.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52