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
The company launched the new entity, Payfinia , to provide instantpayment solutions to both financial institutions and third-party organizations. Payfinia aims to help financial institutions access and establish ownership of their instantpayments services.
Employers might adopt push-to-card solutions that enable them to equip staff with prepaid debit cards, onto which earnings can be quickly disbursed, for example, while other companies may send salaries directly into payment apps. These solutions are not one-size-fits-all, though, and companies must select their tools with care.
Faster payments, for instance, can make it more difficult to detect that fraud has occurred, BioCatch said, particularly in instances of cross-border corporate payments. “With instantpayments, fraudsters can not only move funds from legitimate users to themselves quickly, [but] they can divert them just as fast.
Firms are also looking at options like same-dayACH and The Clearing House 's RTP network as they explore how to speed up B2B transactions. Inside Businesses’ Faster Payments Selections. Same-dayACH may appeal to some companies, while the RTP network suits others, for example.
With companies paying suppliers on strategic schedules, real-time transactions aren’t always necessary — or beneficial — for the B2B payments space. Yet there is some adoption of faster payment technologies among corporates. In the U.S., It’s not huge, but it’s not dismissible, either.
Several players in the payments space have recognized this urgent need for choice and speed and are stepping up to help companies offer this capability. New solutions like Ingo Money’s InstantPayments platform and NACHA’s SameDayACH initiative are offering corporations digital alternatives to paper checks for funds disbursement.
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