PYMNTS

OCTOBER 5, 2016

With these benefits in mind, blockchain has recently captured the attention of several players from around the faster payments space. The blockchain solutions are intended to make the payments process more efficient and transparent for consumers. Recent developments from across the faster payments world.

Faster Payments 79

Faster Payments Blockchain Cross-Border Payments 79

PYMNTS

SEPTEMBER 21, 2016

In just a matter of days, the payments industry will see a significant — and ubiquitous — change in the way payments are sent and received. Same Day ACH will create a new option for faster payments for all the banks and credit unions across the U.S. What’s Under The Faster Payments Umbrella?

Faster Payments 76

Faster Payments Same Day ACH ACH ACH Network 76

PYMNTS

SEPTEMBER 27, 2018

Hong Kong has launched the Faster Payments System (FSP), which allows users to send money almost instantly using a mobile number or email address as an account proxy. Transfer amounts can be as high as HK$1 million, reports said.

Faster Payments 65

Faster Payments Funds Transfer Payments Payer 65

PYMNTS

FEBRUARY 19, 2019

With faster payments functionality beginning to take off in the U.S., the outlook of how accelerated transaction times might impact B2B payments and, more specifically, the issue of late payments to suppliers, remains unclear. “We see faster payments coming into the U.S. and Europe have imposed.

Faster Payments 75

Faster Payments Accounts Remittance Data Same Day ACH 75

Payments Source

JANUARY 27, 2017

Recommendations for a framework to develop a "universal security baseline" to protect sensitive payment data at rest and in transit remains a key goal of the Federal Reserve faster payments initiative.

Faster Payments 60

Faster Payments Federal Reserve Security Fed 60

PYMNTS

JANUARY 21, 2019

There’s a canary in the faster payments coalmine. That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S. It may also change the conversation about faster payments in the U.S.

Faster Payments 77

Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

NOVEMBER 28, 2016

was one of the first markets to truly push for faster payments with the launch of the Faster Payments Service , an initiative spearheaded by several government agencies and top banks. Several years later, the initiative has made big strides as other markets around the globe look to the U.K.

Faster Payments 54

Faster Payments Real Time Payments Payments Instant Payments 54

PYMNTS

JUNE 27, 2019

New faster payment initiatives are popping up around the world, from Saudi Arabia to Brazil to Australia. According to the latest PYMNTS Faster Payments Tracker , Same Day ACH volume has seen a 24 percent increase year over year between the first quarter of 2018 and the first quarter of 2019. In the U.S.,

Faster Payments 40

Faster Payments Risk Real Time Payments Fraud Detection 40

PYMNTS

MARCH 10, 2017

Developing and deploying faster payments initiatives is top of mind for many countries around the globe, but making those talks a reality is a whole different story. market specifically, it’s up for debate whether the many faster payment schemes are actually complementary or conflicting. In the U.S. FIs in the U.S.

Faster Payments 67

Faster Payments Payments Interoperability Push-to-Card 67

PYMNTS

SEPTEMBER 14, 2016

ACI Worldwide advises that, as the world moves toward immediate payment ecosystems, a holistic view of the transaction, with layered controls from origination to the application of real-time rules, is the only way to push the pedal to the metal on faster payments and put the brakes on fraud. million in 2007 to £52.5

Fraud Prevention 77

Fraud Prevention Faster Payments Push-to-Card Payments 77

PYMNTS

NOVEMBER 14, 2019

Faster Payments Shift the Landscape. Emerging payment technologies, namely, faster payment initiatives and services, are playing a significant role in not only enabling businesses and their payroll service providers to address global payroll friction, but also in transforming the payroll function at a broader level.

Payroll 50

Payroll Faster Payments Cross-Border Payments 50

PYMNTS

NOVEMBER 3, 2016

Today’s consumers increasingly expect payments to be processed quicker than ever before, and insurance companies are turning to newly introduced faster payment initiatives, such as Same Day ACH, to accommodate the demand. Overcoming the antiquated. Stay tuned for updates as we monitor the industry’s track.

Faster Payments 72

Faster Payments Same Day ACH ACH Payments 72

PYMNTS

DECEMBER 12, 2017

Faster and real-time payments are generally considered a benefit for the consumer payments world. finally making inroads in its faster payments initiatives, it’s now time to see whether faster payments will make their way into the B2B sphere too. Another faster payments service in the U.S.,

Faster Payments 48

Faster Payments Same Day ACH B2B Zelle 48

PYMNTS

JANUARY 27, 2017

Digital payments firm Dwolla is the latest to want in on the Federal Reserve Faster Payments initiative. 26) said the FinTech company is one of 19 to submit proposals on how to run part of the Fed’s real-time payments network. Reports by Forbes Thursday (Jan.

Faster Payments 40

Faster Payments Federal Reserve FinTech Fed 40

Payments Source

DECEMBER 2, 2020

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

Cross-Border Payments 116

Cross-Border Payments SWIFT Cross-Border Message Standards 116

PYMNTS

FEBRUARY 7, 2017

You can test all you want, but for payments innovators, the true test only comes when a solution is released out into the real world. s Faster Payments initiative, there have already been some changes made to the service that looks to support real-time transacting. For the U.K.’s But last June, the U.K.

Faster Payments 46

Faster Payments Technology Real Time Payments ISO 20022 46

PYMNTS

JULY 10, 2017

Accelerated payments initiatives like the U.K.’s ’s Faster Payments Scheme (FPS) are only valuable when financial institutions and other players can actually access the service. They also need to join Faster Payments Scheme Limited and agree to all of its obligations.

Faster Payments 45

Faster Payments Payments On-Demand Participant 45

PYMNTS

DECEMBER 19, 2019

In addition to Open Banking, other industry trends like faster payments are keeping banks on their toes when it comes to security. “Fraudsters, thus, rely on this technology gap to circumvent the strongest anti-fraud measures employed by established institutions.” ” Big Banks’ Big Security Concerns.

Faster Payments 41

Faster Payments Fraud Detection On-Demand Payments 41

PYMNTS

APRIL 8, 2016

6, 2015, speaking at the Faster Payments Imperative, NACHA CEO Jan Estep emphasized the need to continue the dialogue about what the concept of faster payments really means. “We The payments industry as a whole is beginning to understand that faster payments actually means a number of different things.

Faster Payments 40

Faster Payments ACH Network Same Day ACH ACH 40

PYMNTS

AUGUST 16, 2016

Compass Plus , the electronic payments software company, announced on Monday (Aug. 15) that it has been certified as one of only five companies to gain aggregator accreditation for Faster Payments in the U.K. Faster Payments is a system that enables U.K

Accreditation 40

Accreditation Faster Payments Payments Small Business 40

PYMNTS

MAY 4, 2016

In this month’s Faster Payments Tracker™ , powered by NACHA, payment providers, in efforts to keep up with modern behavior, are looking for new ways to streamline and quicken financial processing. Here’s a sneak peek: The ultimate goal, Waterhouse said, is ubiquity – namely, to make real-time payments mainstream.

Faster Payments 40

Faster Payments Same Day ACH NACHA ACH 40

PYMNTS

AUGUST 24, 2016

With so many workers getting paid via direct deposit, Same Day ACH and other faster payments initiatives could theoretically lead to improvements in corporate payroll strategy.

Faster Payments 42

Faster Payments Same Day ACH Payroll On-Demand 42

PYMNTS

MAY 5, 2016

When The Clearing House (TCH), the payments firm owned by commercial banks, along with global software and services provider FIS, recently submitted their proposal to the Fed’s Faster Payments Task Force in order to evaluate their real-time payments system proposal, it signified a milestone along the path toward real-time payments.

Faster Payments 41

Faster Payments TCH Real Time Payments Payments 41

PYMNTS

MAY 1, 2018

A new survey by ACI Worldwide and Ovum found evidence that financial institutions (FIs) are more willing to open up their data via API and are embracing real-time payments initiatives.

API 71

API Faster Payments Real Time Payments Payments 71

PYMNTS

MARCH 28, 2016

The path to faster payments in the U.S. doesn’t have to be paved with a 500+ person task force analyzing what the world would look like if we were starting from a clean sheet of paper, competing propositions for who’s going to build and operate a new set of rails, or even what sort of spiffy software can make existing rails faster.

Faster Payments 48

Faster Payments Checks Payments Fed 48

Payments Source

JULY 20, 2017

Same-day Automated Clearing House transactions exist, in part, as a first step in the faster payments initiatives taking place in the U.S. But are they lucrative enough for acquirers to add to their portfolio?

Acquirers 69

Acquirers ACH Faster Payments Payment Initiation 69

Payments Source

AUGUST 24, 2017

Louis, will oversee the Fed's payments system improvement initiatives. Dave Sapenaro, first vice president and chief operating officer at the Federal Reserve Bank of St.

Federal Reserve 60

Federal Reserve Payment Initiation Fed Payments 60

PYMNTS

NOVEMBER 27, 2019

Further, one of the largest benefits to corporates of faster and real-time payments services is less about the speed and more about the data these networks are able to carry along with a transaction. What Faster Payments Hasn’t Solved … Yet. The world is moving more toward standards, and ISO is one of them,” said Halpin.

ISO 20022 117

ISO 20022 Cross-Border Payments ISOs Cross-Border 117

PYMNTS

MAY 31, 2016

One of the biggest ways it impacts his thinking is in pondering the role of faster and, eventually, instant payments in the world. in the first world, it’s not an issue,” Hils said of providing faster payments. “But the payments system in Haiti or Honduras can’t handle instantaneous payments.”

Faster Payments 41

Faster Payments Cross-Border Cross-Border Payments Payments 41

PYMNTS

SEPTEMBER 26, 2016

Same Day ACH is now a reality and, with much fanfare, represents the first ubiquitous faster payments initiative in the United States without an attendant regulatory mandate. But as Karen Webster noted in the latest installment of Topic TBD, even as faster payments takes a step closer to reality in the U.S.,

Same Day ACH 71

Same Day ACH Faster Payments Ubiquitous ACH 71

PYMNTS

AUGUST 13, 2019

The faster payments landscape is changing rapidly, most recently with the U.S. Federal Reserve’s announcement that it will launch its own real-time payment and settlement system called FedNow. Around the Faster Payments World. The country’s central bank announced that the rail processed 5.1 About the Tracker.

On-Demand 62

On-Demand ISO 20022 Federal Reserve Faster Payments 62

PYMNTS

SEPTEMBER 19, 2018

Financial service providers in Hong Kong are readying to facilitate real-time payments for both corporate and non-corporate customers as the market’s Faster Payment System (FPS) comes into effect. 17) said the Faster Payment System will launch Sept. Reports in Marketing Interactive on Tuesday (Sept.

Real Time Payments 60

Real Time Payments Faster Payments Payments P2P 60

PYMNTS

JUNE 13, 2019

As much as 80 percent of firms still rely on paper checks when it comes to making business-to-business (B2B) payments. Demand is there, pent up, for greenfield opportunities to bring speed and digitization to payments across a range of use cases. After all, faster payments impact cash flow, too.

Checks 66

Checks Real Time Payments Faster Payments B2C 66

PYMNTS

NOVEMBER 2, 2016

Today’s consumers increasingly expect payments to be processed quicker than ever before, and insurance companies are turning to newly introduced faster payment initiatives, such as Same Day ACH, to accommodate the demand. Around the Faster Payments world. About The Tracker.

Faster Payments 74

Faster Payments Same Day ACH NACHA Payments 74

PYMNTS

SEPTEMBER 2, 2019

Faster payment initiatives, a focus on application programming interfaces (APIs) and data integrations and efforts to elevate traditional B2B payment tools like ACH and commercial cards all made waves this summer. Faster Payments.

Commercial Card 74

Commercial Card Payment APIs and Integration Faster Payments ACH 74

PYMNTS

AUGUST 8, 2019

The Federal Reserve’s planned faster payments service, the FedNow Service, is slated to have an impact on the speed with which paper checks are processed, adding a new twist to the U.S.’s s path toward faster, digital payments. Keeping Checks In B2B Payments.

FedNow 66

FedNow Checks B2B Federal Reserve 66

PYMNTS

OCTOBER 12, 2020

There is no dearth of faster payments initiatives — and no certainty that there will be one faster payments scheme to rule them all.

Instant Payments 97

Instant Payments FedNow Fed Interoperability 97