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Dozens of countries already have real-timepayments programs in operation, with several more under development, as identified by financial services technology provider FIS in its latest Flavors of Fast report. Those who wait may find themselves left behind as the faster payments revolution takes hold.”.
The process integrates the World Wire API into banks’ payment systems. The company said that the Blockchain World Wire can simultaneously clear and settle cross-border payments in nearrealtime.
Corporates aren’t that interested in real-timepayments. At least, that’s according to a report from the EuroFinance Corporate Treasury Network published last month, which found less than half of corporate treasurers say having the ability to make a real-timepayment is a priority.
Faster Settlement : Pay by Bank transactions often offer real-time or near-real-time settlement. This improves cash flow, as funds from bank transfers can be deposited into the merchant’s account in real-time. This improves cash flow for businesses.
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