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Banks Dreading The Real-Time Payments Challenge

PYMNTS

Banks may not like it, but the demand is here for faster payments — from businesses, consumers and regulators alike. While they’re apprehensive about the technology, financial institutions are facing pressure to adopt real-time payments capabilities to meet that demand and to comply with new regulations.

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Faster Payments, Real-Time Payments And A Few Glitches

PYMNTS

Hong Kong Monetary Authority (HKMA) has received a trio of complaints that the faster payments infrastructure has been a conduit to fraud, and the transactions range from $1,280 to $12,750. Separately, Crédit Agricole ’s Italian operations brought instant payments to current account activity through partnership with SIA.

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EBA Clearing Testing Real-Time Payments Tool

PYMNTS

EBA Clearing, set to launch its real-time payment service across Europe later this year, has officially commenced the testing phase of its technology. EBA Clearing’s technology will enable real-time payments across the EU 24/7. The firm said Thursday (Jan. The firm said Thursday (Jan.

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Deep Dive: Instant Payments Confront Long Path To Ubiquity

PYMNTS

Payments made with cash and checks are dropping in volume — the use of cash alone declined 40 percent over the past five years in Canada. Instant payments started 2020 on a high note, however, with the adoption of real-time payments and other speedy disbursement methods increasing over the past few years.

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Credibanco and Dock Launch Instant Payments Solution in Colombia

Fintech Finance

Dock and Credibanco have joined forces to support Bre-B, a new instant payments tool launched by Colombia’s Banco de la República to transform the Colombian payment system. Security, a key component in instant payments, is another fundamental pillar of Credibanco’s offering.

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Tyfone Spins Out New Entity for Instant Payments

Finovate

The company launched the new entity, Payfinia , to provide instant payment solutions to both financial institutions and third-party organizations. Payfinia aims to help financial institutions access and establish ownership of their instant payments services.

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Wallet wars: How digital payments are reshaping finance

The Payments Association

The technology behind digital wallets has advanced rapidly, transforming them from simple payment tools into comprehensive financial ecosystems. Optty CEO Natasha Zurnamer highlights this shift: Digital wallets have expanded functionality well beyond the processing of a payment.