PYMNTS

JANUARY 28, 2021

This week's look at the convergence between accounts receivable (AR) and accounts payable (AP) finds this tactic expanding in the corporate card arena, while another FinTech aims to boost cross-border payment traceability for both payer and payee. Tat Capital Eases Card Acceptance For Vendors.

Innovation 61

Innovation Payer Cross-Border Payee 61

PYMNTS

SEPTEMBER 26, 2019

Consumers, businesses and governments are seeing faster payments as a path to greater convenience and financial security, and this growing demand is spurring payments services providers (PSPs) to meet this need in a swift, secure manner. Payers provide PINs or signatures, which grant recipients permission to extract funds.

Payer 67

Payer Real Time Payments Push-to-Card Payee 67

EBizCharge

MAY 8, 2024

ACH Credit Transactions: These transactions involve the payer initiating a payment and sending funds to the payee’s account. ACH Debit Transactions: Conversely, ACH debit transactions allow the payee to pull funds from the payer’s account with the payer’s authorization.

ACH 52

ACH Checks Process ACH Network 52

Fintech Finance

JULY 4, 2024

The Bank for International Settlements (BIS) defines offline payments as the transfer of a digital money token between devices that takes place without the payer and payee requiring a networked connection to any ledger system or backend system to complete the payment. G+D Filia® Unplugged makes digital offline transactions a reality.

Digital Payments 98

Digital Payments Online and Mobile Banking Financial Inclusion Central Bank 98

PYMNTS

NOVEMBER 19, 2020

With all of the problems and challenges 2020 has thrown at us, the last thing anyone needs is a nagging perceptual rift between payees and payers about what “instant” means. Payers claim, however, that they make only 45.3 Yet, there it is. The majority of consumers, at 58.4 percent, and microbusinesses, at 70.8

Instant Payments 94

Instant Payments Non-Bank Payer Payments 94

Nanonets

SEPTEMBER 21, 2023

Here is a brief overview of the process: Initiation: The payment process begins with the creation of an electronic payment request by the payer. This request includes data such as the payment amount, payee information, and payment due date. The payee may also send an electronic message to confirm receipt of the payment request.

Payment Solutions 52

Payment Solutions Payee Payments Payer 52

PYMNTS

DECEMBER 10, 2019

The convergence of accounts payable (AP) and accounts receivable (AR) continues as banks and FinTechs collaborate on new solutions that pull double-duty, tackling friction for both payers and payees. AR Keeps AP Friction In Mind. Connecting AR and AP Through ID.

Payee 52

Payee Payer B2B Accounts 52

PYMNTS

APRIL 21, 2020

Today’s unprecedented market environment has businesses finally taking the plunge to migrate away from checks as payers seek digitization and payees seek transaction visibility. Deutsche Bank has rolled out a new faster payments service for corporates of its branch in Bangkok, Thailand, recent reports said.

NACHA 82

NACHA Correspondent Bank Real Time Payments Push-to-Card 82

PYMNTS

MAY 7, 2020

” That understanding means service providers cannot force corporates away from paper. But addressing payee needs is just as critical to easing the digital migration. By virtualizing the paper check and wielding API integrations in between payer and recipient, those workflows become smoother.

Checks 67

Checks B2B Payment APIs and Integration Remote Deposit Capture 67

PYMNTS

DECEMBER 26, 2019

Solution providers that can offer this choice in payment “will be a critical differentiator” in the year and years ahead, said McCarthy, adding that AR platforms must allow B2B vendors to offer their payers a range of payment choice beyond ACH or checks, with more firms embracing commercial cards, PayPal and other alternative payment technologies.

Accounts 53

Accounts B2B End User Payer 53

PYMNTS

NOVEMBER 18, 2020

Looking ahead, financial services providers and their business clients will have to explore an expanding list of value propositions surrounding the RTP network for corporates and SMBs in order to understand how real-time payments can benefit both senders and receivers. But there is more work to be done.

RTP 82

RTP Use Case Real Time Payments ISO 20022 82

PYMNTS

AUGUST 3, 2018

Discover Financial Services is pushing for digitization of B2B payments in the U.S. The companies said Discover will be working with the BPDA, recently formed to create a business payments directory to make it easier for payers to electronically make B2B payments, to create a blockchain-powered platform.

B2B 40

B2B NACHA API Payee 40

Fintech Finance

APRIL 9, 2024

EBA CLEARING has announced that it will provide its service users with Verification of Payee at a pan-European level as from December 2024. With the delivery of Verification of Payee, the Company will support payment service providers (PSPs) in offering IBAN/name matching services to their customers for their SEPA transactions.

Payee 52

Payee Verification Instant Payments Regulatory Compliance 52

PYMNTS

APRIL 4, 2018

Meanwhile, freelance marketplaces like Fiverr and GigSalad allow service providers to get paid quickly through PayPal. Home share service Airbnb , for starters, recently introduced a new tool that enables travelers to more easily split a group bill.

Tax Refunds 40

Tax Refunds Blocks Payment APIs and Integration Faster Payments 40

Seon

JULY 27, 2023

FedNow works by offering banks, credit unions, and other organizations such as retailers a system where they can utilize instant payment services that go through this core process: The payer (e.g. an employer paying an employee their wages) uses an app provided by their credit union to request the desired payment.

FedNow 40

FedNow Federal Reserve ISO 20022 Fraud Detection 40

Stax

JULY 9, 2024

Restaurants, retailers, and on the road service providers benefit the most from mPOS systems. Peer-to-peer electronic payment methods link to the payer and payee’s bank account to withdraw and deposit funds, providing a way for users to easily perform a funds transfer. What makes mobile POS systems unique?

Digital Payments 163

Digital Payments Online and Mobile Banking Contactless Payments Payments 163

Stax

MARCH 14, 2024

But they’re also popular to provide a way for B2B customers to make electronic payments. Payments work by giving the payer a link to complete the transaction. This would take them to the gateway where they can pay by credit card, Paypal, or other payment options the payee wishes to add.

B2B 88

B2B Process B2C Credit Cards 88

PYMNTS

NOVEMBER 14, 2019

Platforms and payment service providers are seeking digital, integrated payment experiences that are so seamless, neither the payee nor payer take much notice that a transaction has even occurred. Increasingly, the gold standard for payments is invisibility. Such is a standard that is making its way to the payroll space.

Payroll 50

Payroll Faster Payments Cross-Border Payments 50

PYMNTS

JUNE 5, 2018

Working with PayPal, the company said, could ease friction for both payers and payees in the B2B payment process, encouraging firms to pay their vendors more quickly. “PayPal and other payment service providers need to make it very simple to sign up on the spot and make payments,” she said.

B2B 46

B2B PayPal Payments Payee 46

PYMNTS

MARCH 29, 2018

But with an intermediary FinTech facilitating these transactions, Chanda said his customers are less inclined to delay vendor payments, while the transaction itself is less likely to include errors because the payer has handed off the payment process to a specialist.

Checks 43

Checks B2B ACH Payments 43

PYMNTS

AUGUST 15, 2018

However, accounts payable (AP) service providers have more on their plate than simply making it easier for companies to pay their invoices digitally. Behind that support of data sharing is service providers’ pursuit of usability for corporate customers. Overall, the space is taking a positive approach to change.

B2B 40

B2B Payments B2C API 40

PYMNTS

JANUARY 30, 2020

As faster and real-time payment schemes achieve ubiquity in more markets around the globe, speed is increasingly becoming the standard for payers of all kinds. This new reality isn’t without its challenges for financial services providers, however, with security and fraud mitigation among the largest concerns.

Faster Payments 43

Faster Payments APACS Real Time Payments Financial Crimes 43

PYMNTS

OCTOBER 22, 2019

Corporate financial services providers taking aim at accounts payable friction this week pulled double-duty with new tools that also addressed friction for clients’ suppliers. Bank introduced a new eBilling tool also designed both for billers and payers. Bank Targets Both Billers and Payers. Finally, U.S.

Payer 40

Payer B2B Commercial Card Faster Payments 40

EBizCharge

APRIL 25, 2024

Paper checks and eChecks Paper checks are still used today since they offer a tangible record of transactions, providing both the payer and the payee with a physical document detailing the payment.

Online and Mobile Banking 52

Online and Mobile Banking Debit Card Credit Cards Contactless Payments 52

PYMNTS

OCTOBER 1, 2018

According to NACHA , the B2B directory will be structured as a network of credentialed service provider “sub-directories,” in which trusted and validated payee information will be stored. The] BPDA was formed to bring to market the B2B directory,” said Lawrence Buettner, BPDA chairman.

NACHA 56

NACHA Business Payments Payee ACH 56

PYMNTS

AUGUST 7, 2018

“The intent of the organization is to help payers better identify [the] payee information they need in order to make electronic payments,” he said in an interview, adding that the directory aims to be “payment agnostic” and support payments made via a variety of rails, including FedWire, ACH, SWIFT, lockbox and, yes, paper check.

B2B 40

B2B Federal Reserve Payee FedWire 40

PYMNTS

JANUARY 22, 2021

Morgan's Single-Use Accounts (SUA) virtual card payments offering, provides fraud protection and card rebates to OSV's finance and accounting clients, per the announcement. iBanFirst Debuts Payment Tracker For B2B Transactions Visibility.

B2B 66

B2B Payments Blockchain Payee 66

FICO

JUNE 26, 2018

The appointment of a steering committee to seek consensus on the details of the code including: Pre-conditions for payer and payee on standards that meet the criteria for recovery of stolen money. The standards PSPs will be expected to follow. Implementation of the code across the industry.

Real Time Payments 63

Real Time Payments Instant Payments Irrevocable Payment Payments 63

PYMNTS

AUGUST 30, 2018

Cross-border messaging service provider SWIFT , for one, recently made news when the company announced its plans to expand its role in the European economy. While the U.S.

Cross-Border 40

Cross-Border Cross-Border Payments Same Day ACH Instant Payments 40

PYMNTS

DECEMBER 11, 2018

The freelance and gig work economy continues to grow, creating wide-open opportunities for FinTechs and service providers addressing a range of new pain points for both the talent and the employer. The costs associated with this process are among the biggest barriers for freelancers today, said Du Val.

Payroll 71

Payroll Cross-Border Cross-Border Payments Direct Deposit 71

NFCW

JUNE 25, 2024

TRANSACTION FEE: A step-by-step overview of the digital euro compensation model Payment service providers will be able to charge merchants a fee for enabling them to accept digital euro transactions, the European Central Bank (ECB) has revealed, but a cap will be placed on the amount that it will be possible for them to charge.

Central Bank 82

Central Bank Online and Mobile Banking Legal Framework Caps 82

Fintech Finance

JULY 1, 2024

When paying offline, personal transaction details would only be known to the payer and the payee and would not be shared with payment service providers, the Eurosystem or any providers of supporting services. To use data for commercial purposes, payment service providers would need users’ explicit consent.

Legal Framework 98

Legal Framework Money Laundering Online and Mobile Banking Central Bank 98

M2P Fintech

MARCH 28, 2024

Payment Initiation Service Provider (PISP) PISP is a third-party financial institution authorized to initiate payments directly from a customer’s bank account on their behalf. Push Payments Push payments are a type of electronic transaction where the payer actively initiates the transaction and sends funds directly to the payee.

FinTech 59

FinTech Online and Mobile Banking Push-to-Card Payer 59

CB Insights

AUGUST 25, 2017

Blockchain could be used to create a more direct payment flow that connects payers and payees — across borders or domestically — without intermediaries, at ultra-low fees and almost instant speed.

Blockchain 78

Blockchain Law Enforcement Bitcoin Transactions 78