PYMNTS

SEPTEMBER 21, 2016

Take merchant acquirers who wish to expedite the posting of funds on the same day to a merchant’s bank account. Same Day ACH can give a boost to them, as well as to prepaid cards that can be loaded faster, with the assurance of having good funds behind them.

Faster Payments 76

Faster Payments Same Day ACH ACH ACH Network 76

PYMNTS

JUNE 21, 2017

We know when a transaction qualifies as good funds,” he emphasized. “We If the transaction has to be reconciled at the end of the process, shouldn’t it also be reconciled through every step in between as well? “We We know when to release money out the ‘other’ door; we know how to push value back through the network.”

Interoperability 65

Interoperability Push-to-Card Reconciliation Transactions 65

PYMNTS

SEPTEMBER 23, 2019

Many leverage existing rails, but use tech to solve for the underwriting or fraud issues that prevent good funds from moving faster between accounts. Many also leverage existing contractual relationships to create network effects across banks to accelerate the delivery of those good funds.

Real Time Payments 61

Real Time Payments Payments B2B Innovation 61

PYMNTS

SEPTEMBER 17, 2019

And for good reason, Ingo Money CEO Drew Edwards noted in a recent conversation with Karen Webster and Ingo Executive Vice President and Chief Product Officer Lisa McFarland — instant payments present a world of interesting possibilities for creating better consumer experiences across a wide range of uses.

Instant Payments 70

Instant Payments FedNow Push-to-Card Payments 70

PYMNTS

APRIL 27, 2016

This was done to simulate a fraudster’s tactic of stealing most parts of an identity but changing components for misdirection (thus allowing them to have goods, funds or services delivered to themselves rather than to the legitimate consumer).

Verification 46

Verification Addressing Authentication Participant 46

PYMNTS

OCTOBER 8, 2018

Instead, it’s a lack of certainty that good funds are on the way — and when they’re expected to arrive. When funds settle isn’t much of a friction, since, with that information in hand, decisions about cash and working capital can be made. Limits have also been raised for those payments.

B2B 76

B2B Same Day ACH Payments ACH 76

PYMNTS

JANUARY 10, 2019

“The beauty of the virtual card is that it’s the only payment modality today that solves the four biggest challenges in [the] payment process: speed, good funds, reconciliation [and] fraud risk,” explained Blair Jeffery, chief operating officer at payments processing company Noventis.

Reconciliation 61

Reconciliation B2B ACH Addressing 61

Fintech Labs Insights

JUNE 12, 2015

Knox also offers a “Good Funds” subscription of 0.5% The rest of the feature set for Good Funds subscribers is identical to what is offered at the Enterprise level. Enterprise level customers also will be able to add features like balance updating and next day deposits as well for additional monthly fees.

API 23

API Payment APIs and Integration ACH Good Funds 23

PYMNTS

APRIL 29, 2019

In the B2B payments world, the uncertainty over when good funds will post to a supplier’s account has kept innovation at an impasse. It’s why, when asked, all suppliers say they’d love to be paid faster, but they’d love even more to know when good funds will be available for them to spend.

Online and Mobile Banking 64

Online and Mobile Banking Consumer PayPal Non-Bank 64

PYMNTS

JANUARY 3, 2020

As Ingo Money CEO Drew Edwards told PYMNTS , “There are enough rails in place today to provide ubiquity, choice and instant access to good funds for consumers. We need to give payors more options to deliver choice, and more ways to build trust with the consumers and SMBs that the funds they get instantly will not be clawed back.”.

Instant Payments 60

Instant Payments Payments Push-to-Card Ubiquitous 60

PYMNTS

JANUARY 21, 2019

A payment is the embodiment of good funds to an authenticated buyer and supplier, along with the detailed data that travels with it. But as longtime readers of PYMNTS and of my columns know well, faster is only one piece of the overall value of making or receiving a payment.

Faster Payments 77

Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

MAY 23, 2018

In fact, she told Webster 69 percent of transactions completed today using the Immediate Funds solution are from repeat customers. In the event that happens, Fiserv will reimburse the financial institution and won’t ask it to charge back the customer.

Checks 41

Checks Federal Reserve Fed Participant 41

PYMNTS

OCTOBER 8, 2019

As Edwards noted, although having a real-time infrastructure would make the clearing and settlement process more efficient, payors and the channels that serve them don’t have to wait to move funds in real time to a payee.

Instant Payments 49

Instant Payments Push-to-Card Payments Settlement 49

PYMNTS

SEPTEMBER 17, 2018

The notion of moving those funds faster between the bank accounts of those trading partners is driving a slew of innovation and investment across bank and non-bank network rails today. Certainty of good funds is what they need to plan their cash position, as is the certainty that the funds moving across the networks are secure.

Rules 78

Rules Zelle Payments PayPal 78

PYMNTS

MARCH 18, 2019

No one argues the need to rid the payments systems of inefficiencies and frictions associated with getting access to funds when needed – or the importance of knowing with certainty when good funds will arrive. Everyone agrees that consumers and businesses need and want fast options for moving money between parties.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

JULY 16, 2018

Businesses wait to be paid by their buyers — not knowing when the money will actually be received, if it is good funds and sometimes how much they’ll get. So do their corporate customers: certainty that there are good funds and certainty about when they can access the money. Businesses spend a lot of time waiting too.

On-Demand 43

On-Demand Settlement Consumer Faster Payments 43

PYMNTS

OCTOBER 1, 2018

It was a good funding round for Stripe – which snapped up $245 million in a new round of venture funding. The latest infusion of funds valued Stripe at $20 billion. Luckily Stripe, the Secret Service and eBay gave us plenty of leaves to read. Stripe’s Big Valuation – And Plotted Next Endeavours.

ATM 43

ATM Wire Wires On-Demand 43

Finovate

JUNE 14, 2024

million fund for SME-based fintechs You don’t have to be Sahl to feel as if good funding fortunes are coming your way. billion) fund dedicated to small and medium-sized businesses in the fintech sector. .” Sahl serves more than 12 million customers a month and 15 million households in Egypt. million (EGP 1.5

Online and Mobile Banking 59

Online and Mobile Banking Central Bank Gateways Processors 59

PYMNTS

APRIL 12, 2017

Based on a “good funds” model in which a sender’s funds are immediately removed from their account upon making a payment or transfer, the service offers real-time capabilities with 65 percent of transfer notifications received instantly.

Good Funds 40

Good Funds P2P Transactions API 40

PYMNTS

MARCH 28, 2017

In its latest white paper, INTERAC outlines the principles as follows: Principle #1: Good funds is the better model. Two that go hand in hand are ubiquity and good funds. On the other side of the same coin is the availability of good funds. million per day sent. Principle #4: Embrace standards.

Faster Payments 52

Faster Payments Payments Payment APIs and Integration Near Real-Time 52

PYMNTS

APRIL 25, 2016

To me, given the financial stress that people who take out payday loans face, that seems like a pretty good track record. In a lot of cases where there aren’t good funds in the account, the bank is fronting the money for the account holder. More than two-thirds have no more than one overdraft over 18 months. And why not?

Regulations 41

Regulations Consumer CFPB Online and Mobile Banking 41

PYMNTS

SEPTEMBER 23, 2019

The net result, he noted, is that a consumer who wants to send funds from their bank account in Boston to a mobile wallet in Burundi can do so and know that good funds will be available on the other side within 90 seconds. The recipient gets the money nearly instantly — and we settle with the banks overnight.”.

Accounts 82

Accounts Cross-Border Cross-Border Payments Real Time Payments 82

PYMNTS

NOVEMBER 12, 2018

All too often, cardholders with good funds backing them up see their cards declined. “Most issuers are using a form of neural networks as a foundation of how they determine whether or not to authorize a card from a fraud perspective,” said Parker. That’s because the neural network sees something it doesn’t like.

Payment APIs and Integration 70

Payment APIs and Integration Authorization Processors Issuers 70