PYMNTS

JANUARY 22, 2019

Financial Innovation Now (FIN) submitted a public letter in December, contending that the Fed was best-positioned to operate a ubiquitous, interoperable real-time payments network. Innovation, flexibility and agility helped drive WEX ’s acquisition of Discovery Benefits, Inc. DBI) in 2018.

Faster Payments 66

Faster Payments Real Time Payments Ubiquitous Debit Card 66

PYMNTS

JANUARY 21, 2019

where almost everyone is now banked) and made the case for why the Fed was positioned as the best player to operate a ubiquitous, interoperable real-time payments network – even though the Fed doesn’t have a great track record at payments innovation ( #killthecheck ). It isn’t real-time, but it seems good enough for a lot of use cases.

Faster Payments 77

Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

OCTOBER 21, 2016

Issuing a paper check can cost a company anywhere from three to ten dollars per check, and can consume as much as three weeks of time for printing, mailing, receipt, deposit and clearing. It may be a three week end-to-end process, but every enterprise is set up to pay by check – and every consumer knows how to cash one.

Push-to-Card 79

Push-to-Card Debit Card Instant Payments Payments 79

PYMNTS

NOVEMBER 15, 2016

That matched its expectations for volume and value based on dialogues with industry stakeholders and also projected use cases, said NACHA. The statistics show that Same Day ACH has been emerging as a “ubiquitous U.S. Other payments subsets included 506,000 P2P transactions and 61,000 consumer-related bill payments.

Same Day ACH 56

Same Day ACH NACHA ACH Direct Deposit 56

The Fintech Times

JUNE 13, 2024

Sometimes this is the merchant’s fault, however, a mistyped payment card by the consumer can also cause frustration. Tokenisation unlocks a plethora of use-cases and benefits, such as helping turn everyday technology, like phones and cars, into commerce devices. Consumers will experience faster and safer checkouts.

Visa 69

Visa Online and Mobile Banking Issuers Card Issuer 69

PYMNTS

MAY 15, 2019

In payments, to gain technology, reach and new use cases (and, sometimes, all of the above at once), the debate has always boiled down to “build or buy.” T hen, you also have a bunch of third- party services and bank models that supply those types of payments on behalf of [businesses, consumers] and governments.

Cross-Border 74

Cross-Border Cross-Border Payments Credential Wire Transfer 74

PYMNTS

NOVEMBER 10, 2020

Scan the headlines over the past few weeks and cryptos, well beyond the marquee bitcoin, are making inroads into mainstream consumer and business activities. PayPal is opening its network to allow consumers to shop using cryptocurrency. Cryptos are having a moment. Square bought $50 million of bitcoin.

Cryptocurrency 129

Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

The Fintech Times

JANUARY 13, 2024

The investigation’s findings revealed the complete dominance of the largest banks in the financial market, prompting the CMA to mandate that the nine largest banks in the UK, known as the CMA9, collaborate to facilitate secure sharing of consumers’ banking data with trusted third parties. ” What else needs to be achieved?

Payment APIs and Integration 81

Payment APIs and Integration Use Case On-Demand Consumer 81

Fintech Finance

MARCH 15, 2024

“The strong adoption and engagement surrounding the FedNow Service reflects our collaboration with the industry since day one, and this remains a priority as we pursue our shared mission of ubiquitous availability of instant payments,” said Mark Gould, chief payments executive for Federal Reserve Financial Services.

Federal Reserve 52

Federal Reserve FedNow Participant Instant Payments 52

Faster Payments Council

FEBRUARY 18, 2021

The group will examine the current state of issues, concerns, and needs of unbanked and underserved consumers and small businesses, in order to develop and inform the industry on a holistic approach to better serve this segment of the economy. The list of use cases for real-time recurring payments has grown substantially in recent years.

Financial Inclusion 68

Financial Inclusion Faster Payments FPC Cross-Border Payments 68

PYMNTS

AUGUST 12, 2019

That’s the talk track now from the Fed , which a week ago today announced its plans to build and operate a new set of real-time rails, using accelerated access to employer paychecks as its launch use case. Ironically, perhaps, the ACH network’s first direct deposit use case was the U.S.

Real Time Payments 78

Real Time Payments FedNow TCH Fed 78

PYMNTS

FEBRUARY 1, 2021

It has clarified the banking processes, but RTP is hardly ubiquitous within Italy, much less across the Eurozone. That increase has been driven by P2P payments, where parents are sending money to their children, and, perhaps not surprisingly, tech-savvy younger demographics are sending money to one another using banking apps.

Real Time Payments 100

Real Time Payments Instant Payments Online and Mobile Banking Push-to-Card 100

PYMNTS

AUGUST 7, 2019

It’s a mild piece of friction, but it’s not terribly onerous and is doing something useful: keeping consumers safe. SMS one-time passcodes are more of a risk than most consumers realize, Boku CEO Jon Prideaux told Karen Webster in a recent conversation. Building Ubiquitous Access. Unless, of course, it isn’t.

Authentication 44

Authentication Consumer Authentication Consumer Ubiquitous 44

PYMNTS

JUNE 4, 2019

Apple’s Homepod, Google’s Home and Amazon’s Echo are the most rapid-selling segment of consumer technology since mobile phones, according to eMarketer. As artificial intelligence becomes more and more ubiquitous, Gauthier says the move toward shopping by voice in inevitable.

Security 58

Security Ubiquitous Payments Use Case 58

PYMNTS

AUGUST 3, 2016

Ninety percent of the $10 trillion “push” payments market opportunity is concentrated in a variety of disbursements made between businesses and consumers that today rely on cash, checks and ACH to move money between those parties. Cecelia Frew, SVP of Visa Direct U.S.

P2P 50

P2P Debit Card ACH Ubiquitous 50

PYMNTS

FEBRUARY 24, 2017

Just this month, Hollywood film director Steven Spielberg and several major studios fueled Series A funding for Dreamscape Immersive , a new VR technology startup aimed at VR entertainment experiences that bring consumers into larger social and retail environments. When they came down in price, they became ubiquitous,” he explained.

Online and Mobile Banking 68

Online and Mobile Banking Use Case Push-to-Card Consumer 68

PYMNTS

SEPTEMBER 16, 2019

consumers shop and pay — today and in the future. But it’s the bridge millennials – those 30- to 40-year-olds who are the first generation of connected consumers with spending power – who offer profound insights into the future of connected commerce, and the devices and apps that enable those experiences. This group of 60 million U.S.

Consumer 89

Consumer Use Case Ubiquitous Credential 89

PYMNTS

APRIL 27, 2020

Under those proposals, consumer bank accounts would be established at the Federal Reserve, enabling digital dollars to be issued and received. Transactions can be done through quick response (QR) codes or NFC-enabled transactions, with parties providing incentives to consumers to get them to use those rails.

Blockchain 108

Blockchain Tax Refunds IRS Fed 108

PYMNTS

OCTOBER 2, 2019

The vacuum created by the absence of a ubiquitous real-time or instant payments scheme has been filled in by private sector innovation, perhaps readily evident in offerings like Zelle and Venmo. The Use Case – and B2B. Kohli said person-to-person (P2P) use cases are among the first to gain ground. In the U.S.,

Instant Payments 63

Instant Payments Interoperability Cash Management Cross-Border 63

PYMNTS

JANUARY 25, 2019

There are few familiar places in the regular life of a consumer other than the grocery store , and that familiarity can breed a type of trust, a sense that nothing too weird or threatening will happen there. It works like this: A consumer inserts U.S. Consumers must have Coinme online accounts to claim their bitcoin.

ATM 75

ATM Bitcoin Digital Currency Federal Reserve 75

Faster Payments Council

SEPTEMBER 12, 2022

How can we look to this rapidly growing business for new use cases for instant payments? In fact, 83% report they already use digital wallets or fintech mobile apps and 62% plan to use faster payments more. What will this look like in the coming years?

FPC 88

FPC Federal Reserve Cross-Border Payments Faster Payments 88

PYMNTS

OCTOBER 10, 2016

23, the industry welcomed the rollout of ubiquitous faster payments to every consumer and business in the U.S. Throckmorton noted that the ACH Network has used tokens for a number of years and that now, with faster payments, the interest in them has increased from both businesses and consumers.

Same Day ACH 76

Same Day ACH ACH ISO 20022 NACHA 76

Fintech News

APRIL 16, 2024

With cashless payment becoming ubiquitous, the Bank of Thailand (BOT) is now paving the way for open finance, aiming to enhance consumer access to financial services. The BOT expects the advent of digital banking to heighten customer experiences, enhance financial services accessibility, and lower fees for consumers.

FinTech 117

FinTech Bots Central Bank Innovation 117

PYMNTS

MARCH 14, 2017

Whether it’s checking a bank account balance or placing an order online, consumers expect fast, convenient and immediate results. DE: The idea of fast funds continues to consume an outsized proportion of the industry’s headspace. Best of all, it’s instant, guaranteed and comfortable for the consumer.

Consumer 40

Consumer Push-to-Card P2P Gateways 40

PYMNTS

MARCH 18, 2019

This new feature, available to PayPal customers in good standing, leverages the company’s partnership with Chase, and Chase’s connection to The Clearing House’s RTP network, to move money instantly into the bank accounts of consumers and SMBs. Meanwhile, there are already two ubiquitous faster (than before) payments rails in the U.S.:

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

FEBRUARY 22, 2019

But the ease and speed that consumers demand when transacting online comes with risk, as merchants need to establish identity — in other words, being certain that customers are who they say they are — in a world where buyers and sellers may be continents apart. PSD2 is here, of course, changing the way consumers and companies access data.

Credential 52

Credential Account Takeovers Authentication Verification 52

PYMNTS

SEPTEMBER 24, 2018

That ecosystem today includes developers who create skills powered by Alexa , SDKs (software developer kits) for third parties to use to incorporate Alexa into their own devices and a suite of Amazon’s own hardware devices that consumers can purchase to bring Alexa and her skills into their homes and offices. consumer’s automobile.

Consumer 76

Consumer Use Case On-Demand Ubiquitous 76

PYMNTS

JUNE 24, 2019

What Mastercard sees in Libra in its embryonic stages, he said, is a novel way of combining a cryptocurrency with a private governing body and structure, to create something stable and ubiquitous enough to be used for payments worldwide — at least, it could be. It’s a reason to work with regulators. “We

Visa 71

Visa Cryptocurrency Payments Regulations 71

Fintech Finance

JANUARY 24, 2024

Mastercard and The Clearing House (TCH) have announced an extended multi-year partnership, bringing the companies together to collaborate on innovative capabilities for consumers, businesses and governments to evolve and embrace the digital economy through real-time payments (RTP) adoption on the RTP® network.

Real Time Payments 52

Real Time Payments RTP Visa Instant Payments 52

PYMNTS

AUGUST 8, 2019

But any company that introduces unneeded friction into the process risks alienating consumers. There is no room for friction unless it’s absolutely necessary — and consumers understand why it’s there. The worst-case scenario is asking someone for all their information,” he said. possess phone numbers.

Security 58

Security Verification Online and Mobile Banking Breach 58

Nanonets

JULY 14, 2023

Among the several drawbacks of going through these procedures manually are higher costs, greater manpower requirement, a higher amount of time consumed in repetitive tasks and a greater carbon footprint. You can also schedule a demo to learn more about our AP use cases! Want to automate invoice processing ?

Automation 98

Automation Process Payment APIs and Integration Database 98

PYMNTS

JULY 24, 2017

This innovator secretly hoped the government would be so enamored with his innovation and its potential to transform commerce (and any number of other uses cases) that they’d want to own and operate it. No one, since without it, new payments schemes struggle, and many use cases are DOA. The year was 1837. of this effort?

Fed 47

Fed Faster Payments Ubiquitous Same Day ACH 47

PYMNTS

APRIL 11, 2019

Twelve years later, however, mobile banking has become ubiquitous across much of the global financial ecosystem. FIs are now competing fiercely to ensure that consumers are choosing their mobile banking services over their rivals’ as customers seek apps offering more speed, security and other capabilities.

Mobile Banking 49

Mobile Banking Online and Mobile Banking Use Case ATM 49

PYMNTS

DECEMBER 8, 2016

Less than two months after its implementation, Same Day ACH, the ubiquitous faster payments initiative for the payments industry in the United States, is showing a significant impact on the market, but it still has plenty to learn from those across the pond. In October alone, the ACH Network processed nearly $5 billion in 3.8

Faster Payments 69

Faster Payments Same Day ACH ACH NACHA 69

PYMNTS

DECEMBER 1, 2017

The use case, then, was the ability to enable smartphones to be more accessible for the visually impaired. And there is a wide range of use cases very suitable to visual recognition technology. “As Facebook uses it to flag inappropriate content, while Pinterest and Google let users perform visual searches for products.

Authentication 60

Authentication Use Case Consumer Ubiquitous 60

PYMNTS

AUGUST 6, 2019

Introduced on Monday by Federal Reserve Board Governor Lael Brainard, the Fed’s instant payment scheme FedNow is designed to offer an option for consumers and business to transfer money instantly or nearly instantly in a “ubiquitous, safe and efficient” manner from one bank account to another. “We Why Now For FedNow.

FedNow 85

FedNow Fed Federal Reserve Instant Payments 85

PYMNTS

OCTOBER 22, 2019

Consumers own and use connected devices more than ever before, while brick-and-mortar retail is transforming the in-store experience by making it more digital. That’s exactly what Walmart and Mattel are trying to do using an interactive video store featuring different “floors” with toys. percent using voice-activated devices.

Use Case 41

Use Case Ubiquitous Consumer Innovation 41