PYMNTS

AUGUST 9, 2020

Not everyone favors the Federal Reserve Board’s launch of its settlement service designed to eliminate the three-day check clearing and support instant payments in the U.S. The Clearing House, a payments company that is owned by the nation’s largest banks, has been operating its own real-time system for three years.

FedNow 72

FedNow Fed Federal Reserve Instant Payments 72

PYMNTS

JULY 24, 2017

Yes, the Faster Payments Task Force recommends the U.S. system of faster payments be market-driven and governed by the industry. The Faster Payments Task Force was formed by the Fed under the rubric of avoiding the government mandates, which drove faster payments everywhere else in the world, so the U.S.

Fed 47

Fed Faster Payments Ubiquitous Same Day ACH 47

PYMNTS

APRIL 15, 2016

it confirmed that small businesses are fed up with their banks when it comes to how long it takes for payments and transactions to actually complete. What if, instead, the argument can be made for SMEs to be more selective with the way they send and receive payments in favor of methods that are faster? Don’t use a check.’”.

Faster Payments 40

Faster Payments Payments Checks Small Business 40