PYMNTS

JANUARY 8, 2019

When Chime ’s Co-founders Chris Britt (CEO) and Ryan King (CTO) first set out to start a web bank, it was with one idea in mind: offering middle-class consumers a good deal. Chime also offers no-fee paycheck advances that make funds available to workers as soon as the deposit is initiated by the payroll provider and the bank is alerted.

Debit Card 64

Debit Card Push-to-Card Funds Availability Payroll 64

PYMNTS

JANUARY 21, 2019

The letter highlighted that access to the payments systems today is only possible through incumbent intermediaries – the banks and the card networks – which have not kept pace with the needs of consumers and businesses. It flew in on Dec. 14, the Friday before the week before Christmas, so you might not have noticed.

Faster Payments 77

Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

APRIL 18, 2019

Until recently, “now” was almost never an option, since it was always based on when the funds had cleared, regardless of how that payment was made. Now, Wave’s small business customers can access their sales instantly, using Visa Direct rails and their debit cards. “When do you want to get paid?”

Debit Card 90

Debit Card Small Business Push-to-Card Instant Payments 90

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. And finally, that the banks and the card networks are the big losers.

Faster Payments 80

Faster Payments Fed RTP Same Day ACH 80

PYMNTS

JANUARY 3, 2020

Driven by faster phones, ingenious apps and sheer market force, the move to instant is pushing the boundaries of what’s possible with payments, opening up new worlds of risk and reward. It’s been definitively shown that businesses and individuals will pay reasonable fees or percentages to receive their funds instantly.

Instant Payments 60

Instant Payments Payments Push-to-Card Ubiquitous 60

PYMNTS

JUNE 21, 2017

Modo’s COIN technology knocked down this wall and enabled Verifone’s Points Redemption Network to work in tandem with FIS’ Premium Payback Network, to allow consumers to pay with loyalty points linked to their credit or debit cards at checkout, in real time. All you have to do is connect the dots for all the different stakeholders.”.

Interoperability 65

Interoperability Push-to-Card Reconciliation Transactions 65

PYMNTS

SEPTEMBER 21, 2016

Two new same-day settlement windows will be added to the ACH Network, which will increase the actual movement of funds between all those financial institutions from once a day (at the beginning of the day) to three times a day. Along with the funds movement, a lot of information passes through the ACH Network right with the payment.

Faster Payments 76

Faster Payments Same Day ACH ACH ACH Network 76