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With demand from consumers and businesses for faster payments firmly established, financial institutions recognize the need to act, but where do they stand on implementation planning? To find out, the Center for Payments, a collaboration of ten Payments Associations helping their members keep pace with the continued evolution of U.S.
However, regardless of how corporates adopt faster payment technologies, many experts agree that the acceleration of payments in the country will have profound effects on the broader financial services space, and those changes are likely to impact how companies manage money and operate in a new ecosystem of payments innovation.
The Center for Payments is proud to be a Silver Sponsor of Nacha’s Smarter Faster Payments 2023 conference in Las Vegas, Nevada, happening April 16 – 19. Professional development, exam preparation, and continuing education are central to the mission of the payments associations that collaborate as the Center for Payments.
While existing payments systems still fulfill their functions and purposes and will continue to do so, new rails create solutions and opportunities that can position your organization for what’s to come. Your customers and members want faster payment solutions. Visit Center for Payments to connect with your Payments Association.
The FFIEC Guidelines require financial institutions to implement a solid business continuity management program, which includes an effective Business Continuity Plan. The past few years have taught us the importance of a solid business continuity plan.
The Payments Associations across the country have played a very important role from the beginning, from participating on Nacha’s Blue Ribbon Panels that developed each accreditation program and that keep them up to date, to providing ongoing exam preparation and continuing education.
Technology continues to play a more critical role in the payments space than over the past 25 years. The buzz today is cryptocurrency and how it will be utilized as a viable form of payment in the U.S. About 46 million Americans own a share of a cryptocurrency and predictions are that it will continue to grow.
Increased awareness encourages individuals to adopt secure payment practices and empowers businesses to prioritize investments in robust payment infrastructure. Strengthened Cybersecurity One of the critical aspects of payment preparedness is bolstering cybersecurity measures.
Cybersecurity and Financial Inclusion As the fintech industry continues to evolve, cybersecurity becomes more crucial. The post Cybersecurity Month: Focusing on Financial Inclusion and the Innovation Impact appeared first on Center for Payments.
Year after year, fraud continues to grow exponentially. Over 800,000 reports were received by the FBI’s Internet Crime Complaint Center (IC3) in 2022, representing $10.2 The post ‘Tis the Season for Fraud: How to Keep Your Holidays Scam-Free appeared first on Center for Payments. billion reported in 2021.
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