PYMNTS

JANUARY 1, 2019

The enthusiasm for faster and instant payments in the freelance segment has meant that the gig economy has given instant payments a big push in 2018. In addition, Uber and Lyft both rolled out — and updated — their instant pay for drivers features in 2018. Where Work Is Still Needed.

Instant Payments 79

Instant Payments PayPal Payments Economy 79

PYMNTS

NOVEMBER 18, 2020

When consumers are offered the option of receiving instant payment, they tend to accept it gladly. Although PYMNTS/Ingo data found that fewer than 10 percent of consumers would rather receive checks than instant payments, checks are often the only option for corporate payouts, insurance disbursements or payroll payouts.

Instant Payments 87

Instant Payments Treasury Visa Payments 87

Payments Source

AUGUST 31, 2020

Transfiya, a blockchain-based funds transfer system, is transforming payments in Colombia for the benefit of underbanked and financially excluded consumers.

Financial Inclusion 157

Financial Inclusion Instant Payments Funds Transfer Blockchain 157

Fintech Finance

MARCH 31, 2025

Transaction volume on the EPN ® system, the ACH network operated by The Clearing House Payments Company L.L.C., in 2024, continuing the trend of yearly ACH volume and value growth. ACH commercial volume last year. per year, as businesses and consumers continued to embrace electronic payments.

ACH Network 54

ACH Network ACH Continuity Same Day ACH 54

PYMNTS

APRIL 1, 2019

percent: Projected CAGR of the real-time payments market from 2018 to 2023. 67 percent: Share of Australians slated to use real-time payments by 2023. 23 billion: Number of payments the ACH network processed in 2018. percent: The growth in payments volume via the ACH network between 2017 and 2018. $40

Instant Payments 72

Instant Payments ACH Network Real Time Payments Faster Payments 72

PYMNTS

OCTOBER 1, 2020

consumers and 500 microbusinesses that receive disbursements, as well as 600 companies of all sizes that make disbursements on payout options, instant payment adoption and fees for these services, among other topics. percent) received at least one, non-tax disbursement in the past year, the vast majority of which were not instant.

Instant Payments 122

Instant Payments Payee Same Day ACH Non-Bank 122

PYMNTS

AUGUST 7, 2020

Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States. Lael Brainard said the coronavirus crisis has heightened the need for instant payments.

Fed 75

Fed Instant Payments FedNow Interbank Settlement 75

PYMNTS

JULY 6, 2020

Joining Webster on the panel were Ingo Money CEO Drew Edwards ; Cecilia Frew , senior vice president with Visa ; Manish Kohli , Citi ’s global head of payments and receivables; Jim Magats , senior vice president at PayPal ; and Russ Waterhouse , executive vice president of product development and strategy at The Clearing House.

Instant Payments 59

Instant Payments ACH PayPal Payments 59

Finovate

AUGUST 6, 2024

Digital banking solutions provider Blend has forged a partnership with instant payments-as-a-service company Astra. The partnership will integrate Astra’s Card to Account payment solution directly within Blend’s Deposit Account application flow. Nima Ghamsari is CEO and Co-Founder.

Instant Payments 59

Instant Payments Deposit Account Payment APIs and Integration Credit Union 59

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.

Instant Payments 52

Instant Payments FedNow Same Day ACH Federal Reserve 52

Fintech Finance

OCTOBER 23, 2024

Finzly’s Digital Galaxy enhances this offering by providing a comprehensive digital banking experience, enabling businesses and consumers to send, receive, and request instant payments. Adding Finzly’s instant payments solution to the AWS Marketplace is a significant step forward.

FedNow 97

FedNow FedWire Instant Payments RTP 97

PYMNTS

APRIL 29, 2019

Many countries around the world are rolling out instant payments schemes that bring speed and convenience to payments made within their own borders. Unfortunately, those benefits are often limited when it comes to cross-border payments. A London-based manufacturer can’t rely on the U.K.’s Current Efforts .

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

AUGUST 5, 2019

The Federal Reserve has officially announced it will create a real-time payments service, to be called FedNow. The move was described by Kansas Federal Reserve President Esther George as the biggest infrastructure upgrade embraced by the Federal Reserve since the ACH system went online in 1972.

Federal Reserve 85

Federal Reserve FedNow Instant Payments Real Time Payments 85

PYMNTS

JANUARY 3, 2020

According to the most recent PYMNTS Disbursement Satisfaction Report , “Consumers’ instant payments adoption has increased nearly fourfold over the past three years, with 42 percent reporting they received at least one such payment this year compared to the 11 percent who said the same in 2017.” Making Money Fast.

Instant Payments 60

Instant Payments Payments Ubiquitous Push-to-Card 60

PYMNTS

SEPTEMBER 21, 2020

Recent PYMNTS research found that the vast majority of SMBs do not have access to any type of instant payment method and are therefore reliant upon ACH transfers, cash and checks to either receive disbursements or move their money. Microbusinesses and the instant payments gap . SMBs represent 99.9

Instant Payments 57

Instant Payments ACH Direct Deposit Payments 57

PYMNTS

MAY 16, 2019

Data from the ACH Network shows growth in payment volumes and values across a number of classifications. That’s especially true in B2B payments, where the numbers show 9 percent growth year over year. More generally, the network reported that the total number of payments was up 5.8 percent from the previous year.

ACH 54

ACH ACH Network B2B Same Day ACH 54

Clearly Payments

OCTOBER 31, 2024

Growth : In regions such as Southeast Asia and Latin America, bank transfer payments have grown by 20% annually due to increasing banking access. Faster Payments (U.K.), Popular Examples : Interac e-Transfer (Canada) , Zelle (U.S.), PayID (Australia), and UPI (India).

Online and Mobile Banking 98

Online and Mobile Banking RTP BNPL Debit Card 98

PYMNTS

NOVEMBER 15, 2019

Instant payments has its biggest opportunities for growth here, Edwards noted, because the process is the most obviously problematic when it comes to ad hoc one-to-many payments. Instant payments done right in this context, he said, offer up everything the check offers but faster, cheaper and safer.

Instant Payments 49

Instant Payments Innovation Payee Payments 49

Faster Payments Council

AUGUST 23, 2024

However, a recent survey by FPC and Finzly reveals a stark reality: two-thirds of financial institutions lack the capability to 'send' instant payments. However, a recent survey by FPC and Finzly reveals a stark reality: two-thirds of financial institutions lack the capability to 'send' instant payments.

FPC 128

FPC ISO 20022 Federal Reserve Instant Payments 128

Clearly Payments

JANUARY 21, 2025

Features Government Agencies Should Look For When upgrading payment systems, government agencies should prioritize the following features: Multiple Payment Channels: Support for credit/debit cards, ACH transfers , mobile payments, and alternative methods like cryptocurrencies.

Government Payments 59

Government Payments Government Governance PCI DSS 59

PYMNTS

DECEMBER 10, 2020

Instant payment methods have yet to gain traction as most receivers are not as familiar with such options, however. The playbook offers insights on payment choice and interest in adopting instant payments for future disbursements. At the same time, most payers are very likely to offer such payments in the future.

Same Day ACH 87

Same Day ACH Instant Payments Payer ACH 87

Payments Source

SEPTEMBER 4, 2018

Giro Zrt, a Hungarian financial services industry organization that operates a domestic automated clearing house payments network, is teaming with the payments service provider Nets A/S to create a national instant payments service.

Instant Payments 61

Instant Payments Payment Networks Payments Automation 61

PYMNTS

DECEMBER 3, 2020

Iceland Debuts Instant Payments. The Central Bank of Iceland has rolled out its real-time gross settlement system and instant payment platform, recent reports said. Nacha Drives Corporate ACH Adoption. Nacha is rolling out a new resource center designed to help corporates embrace the ACH Network.

B2B 88

B2B NACHA Innovation Nacha Operating Rules 88

PYMNTS

OCTOBER 15, 2020

Moving Beyond ACH . ACH might be among the most readily visible paper check killers — and as Nacha’s Larimer noted, “we need more than just ACH to make huge inroads [against checks]. Real time and the ACH network can actually work together to displace paper checks.”

Real Time Payments 125

Real Time Payments NACHA SWIFT TCH 125

PYMNTS

DECEMBER 20, 2018

Ingo takes the disbursement files that these corporate disbursers would ordinarily send for ACH or check distribution, and distributes them in real time. Ingo has worked with other partners as well, including Paysafe , to build faster payment services and solutions. Other players have built their own real-time payment systems in-house.

Instant Payments 57

Instant Payments Consumer Real Time Payments Interoperability 57

PYMNTS

DECEMBER 27, 2019

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

Instant Payments 52

Instant Payments Payments Push-to-Card Payer 52

PYMNTS

SEPTEMBER 26, 2019

-based FinTech focused on recurring payment acceptance solutions, said earlier this month that it had expanded into the U.S. market through the delivery of an automated clearing house (ACH)-based debit offering for businesses. In addition, the number of ACH payments grew 6 percent year over year in the first quarter of 2019.

ACH 51

ACH B2B Payments Checks 51

PYMNTS

NOVEMBER 4, 2019

Gu recently spoke with PYMNTS about how same-day ACH and other digital disbursements are affecting the lending industry, as well as why lenders should focus on security and data protection as payment speeds increase. Upstart makes the vast majority of its payouts via same-day ACH transfers rather than relying on checks, Gu explained.

Instant Payments 46

Instant Payments Same Day ACH ACH Credit Cards 46

PYMNTS

NOVEMBER 16, 2020

Payments speed is a crucial consideration for today’s consumers and microbusinesses when receiving disbursements, with PYMNTS’ research finding that more than half of the former and roughly 70 percent of the latter say they received at least one nongovernment payment within the past 12 months. Our findings show that 58.4

Payer 102

Payer Instant Payments ACH Checks 102

Fintech Finance

FEBRUARY 27, 2024

Through this partnership, Backbase clients will be able to offer instant payment capabilities to their customers. Backbase, leveraging Alacriti’s Orbipay Payments Hub , will support end-to-end payment orchestration and processing through the RTP® network, the FedNow® Service, Visa Direct, Fedwire, and ACH payment rails.

Instant Payments 52

Instant Payments Payment Solutions ISO 20022 FedNow 52

PYMNTS

JUNE 30, 2017

The European Central Bank (ECB) has announced its plans for a new instant payments and settlement system that will enable businesses and consumers to send money in real-time across 19 countries. cents per payment for the first two years of operation. TIPS shall be open to participation from PSPs and ACHs,” said the ECB.

Instant Payments 41

Instant Payments Settlement Message Standards Central Bank 41

PYMNTS

NOVEMBER 5, 2020

The paper-based conduits of payments must make way for digital , instant means. In an interview with Karen Webster, Drew Edwards , CEO of Ingo Money , said the stage is set for instant payments to be embraced even by “old” economy firms that have traditionally relied on checks sent to consumers and received in back offices.

Faster Payments 98

Faster Payments Instant Payments Payments Same Day ACH 98

PYMNTS

APRIL 9, 2020

.” Reports noted the importance of SWIFT expanding into the SMB payments arena beyond high-value complex corporate transactions. Sila Raises Funding to Nix ACH. “Sweden is one of the most advanced European countries in terms of use of instant payments,” the European Central Bank said in its press release.

Payment APIs and Integration 83

Payment APIs and Integration Central Bank SWIFT FinTech 83

PYMNTS

OCTOBER 8, 2019

For senders, delivering that experience means more than just moving money faster into bank accounts or digital wallets — it is also about offering the payment choices that create ubiquity for the consumers on the other end of the transactions. From the Appearance of Instant to the Reality of Instant.

Instant Payments 49

Instant Payments Push-to-Card Payments Settlement 49

Finextra

OCTOBER 21, 2024

The second day of AFP in Nashville, Tennessee, saw BNY Mellon’s Sumner Francisco, Finzly’s Karuna Kathir, PTap Advisory’s Peter Tapling and Walmart’s Sarah Arnio, take to the stage to discuss the adoption and benefits of Faster Payments and the differences between rails such as instant payments, same-day ACH, and push-to-card transactions.

AFP 69

AFP Faster Payments Same Day ACH Push-to-Card 69

The Nilson Report

MARCH 11, 2024

The post Backbase and Alacriti Partner for Instant Payment Services appeared first on Nilson Report.

Instant Payments 52

Instant Payments Payments Posting FedWire 52

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. Achieving widespread adoption remains a longstanding challenge for real-time payments in the US. billion by 2027 from 2.8 billion by 2027 from 2.8

Instant Payments 64

Instant Payments RTP Consumer Financial Protection Bureau (CFPB) FedNow 64