This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
In an interview with Karen Webster, Boston Federal Reserve Chief Operating Officer and FedNow Program Executive Ken Montgomery said the central bank’s ambitious payments initiative remains on track — and will inject competition into the instantpayments market. We can also see opportunities for small and medium businesses.
Interest in faster payments is also on the rise for corporates, though their adoption of real-time payments won’t look the same as it does in the B2C world. For financial service providers, instantpayments offers a chance to open up new revenue streams and develop new services for corporate clients.
We can see that cash has been reduced in favor of electronic accounts and instantpayments,” he said. For instance, Scaffidi said that real-time payments (RTPs) are gaining trust at the same time that credit cards are not always seen as the right payments instrument.
Last year, the US Federal Reserve launched FedNow as a competitive alternative for instantpayments in the US. Celebrating its first birthday, we review how the instantpaymentsservice has been adopted over the past year. Are instantpayment methods becoming more mainstream in the US?
The payments industry has been riding the wave of shifting consumer habits and demands, placing the end-user experience at the forefront of new products, services and infrastructure. It’s also about all of the value-adds it brings in. Those users, both consumers and businesses, aren’t just demanding choice, however.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content