PYMNTS

MARCH 18, 2019

First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. And finally, that the banks and the card networks are the big losers. Then came PayPal’s debut of Instant Transfer to Bank. A Couple of Important Dots.

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Faster Payments Fed RTP Same Day ACH 80

PYMNTS

JANUARY 21, 2019

That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S. It flew in on Dec. 14, the Friday before the week before Christmas, so you might not have noticed. Here’s where the canary flew in.

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Faster Payments Same Day ACH Fed Real Time Payments 77

PYMNTS

NOVEMBER 3, 2020

To paraphrase the movie “Top Gun” … “We feel the need … the need for speed.” The payments ecosystem now prizes quickness above all things in a time of cash flow shortages, where each paper check takes an eternity — assuming it arrives at all. Clearly, paper checks aren’t cutting it anymore. We’ve evolved. RTP Doing Its Part for a Quicker Recovery.

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Real Time Payments RTP Same Day ACH Payer 109

PYMNTS

JUNE 29, 2018

B2B payments in the insurance industry suffer from many of the same challenges that other markets do: namely, check-based payments. However, to push insurance providers in the direction of ePayments, service providers have to acknowledge the nuances of the insurance payments machine. “We see really high adoption of virtual cards.”

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Faster Payments Same Day ACH ACH Remittance Data 40

PYMNTS

JANUARY 8, 2021

It also pushed our industry to think about ways to provide faster availability of funds to people and businesses in need.”. A lot of what the pandemic did was force our industry to truly be digital, to facilitate frictionless transactions,” TCH Senior Vice President Elena Whisler said in a recent conversation with PYMNTS. “A

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RTP TCH Funding Agent Continuing Education 139

PYMNTS

SEPTEMBER 26, 2016

Same Day ACH is now a reality and, with much fanfare, represents the first ubiquitous faster payments initiative in the United States without an attendant regulatory mandate. Saks likened the “early days” of faster payments as one analogous to the advent of credit cards, which eventually shaped the way eCommerce is conducted.

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Same Day ACH Faster Payments Ubiquitous ACH 71

PYMNTS

MAY 5, 2017

When it comes to accessing their money, today’s consumer wants it now, with the push of a button. As they grow bolder with this demand, consumer requirements for speed, simplicity and choice in how they get paid could soon make push payments technology a corporate standard. New Tools on the Block .

Checks 46

Checks Push-to-Card Debit Card Payments 46

PYMNTS

NOVEMBER 1, 2018

We have seen all kinds of products rolled out to kill the check in corporate payments – prepaid cards, virtual cards – but stacked against them are those three components,” Bloh said. “A Checks, despite their near extinction in consumer payments, remain alive and well when it comes to businesses paying each other.

Checks 72

Checks Same Day ACH Push-to-Card ACH 72

PYMNTS

DECEMBER 11, 2017

” With the creation of AeroPay Express , the company is marketing its solution as a virtual credit card – but in reality, the solution uses ACH payment rails. Troy noted that the company approaches corporate buyers with a virtual credit card model because it’s easier to understand. “There are too many pitfalls.

Finance 43

Finance Same Day ACH ACH Credit Cards 43

PYMNTS

OCTOBER 5, 2016

Today, accounts payable firm MineralTree announced a collaboration with Visa with a goal of helping corporates pay their suppliers by virtual card. But the commercial card is hardly the most preferred method of payment for suppliers, and that fact could mean adoption challenges for MineralTree and Visa’s new tool. Buyer Control.

Accounts 73

Accounts Commercial Card Push-to-Card ACH 73

PYMNTS

SEPTEMBER 17, 2019

A series of payment innovations are promising to put an end to some common B2B payment frictions, including online portals, same-day ACH and automated accounts receivables (AR). In today’s highly interconnected ecosystem, businesses rely on many other companies to keep their operations running smoothly. Fraud Epidemic.

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Same Day ACH B2B Payments ACH 52

PYMNTS

MAY 22, 2018

This is the last mile of payments, where a push can get funds where they need to go — literally. Much has been made in this space about push payments , which assures instant and “safe to spend” funds (meaning the payment cannot be reversed) delivered to a consumer’s account. and didn’t really work in the U.S.

Push-to-Card 40

Push-to-Card Same Day ACH ACH Payments 40

PYMNTS

OCTOBER 8, 2019

AP technologies can also issue payments rapidly, whether through wire transfers, push-to-card offerings, digital wallets or even blockchain. Delays related to these practices can result in strained relationships with vendors, and interruptions in cash flow. Automated AP solutions, however, can smooth away such frictions.

Automation 54

Automation Same Day ACH Wire Transfer Push-to-Card 54

PYMNTS

NOVEMBER 1, 2017

billion Mastercard and Maestro-branded cards worldwide. Security, Partnerships And Pushing For A More Digital World. He also noted the firm’s recent push to forge partnerships, particularly with PayPal , which has seen the implementation of Masterpass through Braintree to “broaden our digital acceptance footprint.” As of Sept.

Visa 49

Visa Push-to-Card Volume Same Day ACH 49

PYMNTS

NOVEMBER 1, 2017

billion Mastercard and Maestro-branded cards worldwide. Security, Partnerships And Pushing For A More Digital World. He also noted the firm’s recent push to forge partnerships, particularly with PayPal , which has seen the implementation of Masterpass through Braintree to “broaden our digital acceptance footprint.” As of Sept.

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Push-to-Card Visa Volume Same Day ACH 45

FICO

JUNE 15, 2023

Gone are the days of reaching into my pocket for a wallet , counting out bills or wiggling a credit card free or (if you can even remember these days) finding a checkbook and filling out a paper check. in January while prices keep increasing for most day-to-day purchases. Consumer spending also increased 1.8%

Scams 52

Scams Real Time Payments Smishing Same Day ACH 52

PYMNTS

OCTOBER 24, 2017

The company announced that going forward, borrowers using OnDeck’s SMB lending marketplace will be able to collect their funds via their debit cards in real time. The company announced that going forward, borrowers using OnDeck’s SMB lending marketplace will be able to collect their funds via their debit cards in real time.

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Debit Card Push-to-Card Same Day ACH Small Business 40

Payment Savvy

DECEMBER 11, 2023

Automated Clearing House ( ACH) transfers have revolutionized the way we handle our finances, offering a convenient and secure method to send and receive money electronically. Whether it’s receiving your paycheck through direct deposit or paying your bills online, ACH payment solutions have become an integral part of our daily lives.

ACH 52

ACH Wire Transfer Direct Deposit Wires 52

PYMNTS

MAY 8, 2017

Icon Solutions’ Head of Payments Tom Hay recently discussed why real-time payments are such a challenging undertaken within FIs, but how lessons from the past — like the adoption of card payment rails — and from peers across the globe who have already gone through these struggles can make the U.S.’ real-time payments path a smooth one. “A

Real Time Payments 46

Real Time Payments ISO 20022 TCH ACH 46

PYMNTS

APRIL 20, 2016

Developers of accounts receivable technology have a lot on their plates these days. With suppliers pushing aside some more monotonous tasks to computers and robots, they have more time to focus on the business itself and relationships with corporate buyers. Businesses are operating on a slim margin these days,” said Tchakarov. “If

Commercial Card 40

Commercial Card ACH Push-to-Card Automation 40

PYMNTS

APRIL 24, 2018

live paycheck-to-paycheck – and many struggle to make necessary purchases or payments in the days leading up to payday. Barha said the average value that employees access is about $27, choosing to retrieve a portion of their day’s wages about three times per pay cycle. storefronts today than McDonald’s, according to data from Pew.

Payroll 43

Payroll Consumer Financial Protection Bureau (CFPB) Faster Payments Real Time Payments 43

PYMNTS

JULY 24, 2017

Innovative ideas are inspired by smart people who see problems and have the conviction, capital and courage to come up with new ways to solve for them. Take faster payments. One such innovator recognized the vast commerce potential that could be unlocked if new technologies were used to move money and messaging between people in near real-time.

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Fed Faster Payments Ubiquitous Same Day ACH 47

PYMNTS

OCTOBER 29, 2020

They face an array of options to help them with their acceleration efforts, with some choosing to start delivering payroll via push-to-card offerings or directly into workers’ digital wallets, for example. It is no secret that they are a slow way to deliver funds, however. Vendors are not the only ones feeling the pain, either.

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Faster Payments Same Day ACH Real Time Payments Payroll 43

PYMNTS

MARCH 28, 2016

The path to faster payments in the U.S. doesn’t have to be paved with a 500+ person task force analyzing what the world would look like if we were starting from a clean sheet of paper, competing propositions for who’s going to build and operate a new set of rails, or even what sort of spiffy software can make existing rails faster. Yeah, right.

Faster Payments 48

Faster Payments Checks Payments Fed 48

PYMNTS

DECEMBER 5, 2017

Direct deposits, push payments, eWallets, same-day ACH transfers, PayPal, Zelle and myriad other platforms and tools are now second nature. For example, 77 percent would prefer a digital payment over a physical check, according to recent research by Fiserv, and two-thirds of urban consumers felt the same way.

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Consumer Same Day ACH C2B B2C 56

PYMNTS

SEPTEMBER 17, 2018

Like many small businesses (SMBs), he doesn’t accept cards. I had a sense there might be a problem when I was notified via text a day later that he had not picked up the money. I needed a few outdoor cushions earlier this season and hired a local upholstery shop to make them. The invoice amount was less than $500.

Rules 78

Rules Zelle Payments PayPal 78

PYMNTS

SEPTEMBER 17, 2019

But delivering on that concept — and providing instant push payments on demand — is far from simple. What we see more and more, though, is that it has to work for many different types of businesses who want to push those funds instantly, and consumers who want to receive them in a variety of ways. Edwards said.

Instant Payments 70

Instant Payments FedNow Push-to-Card Payments 70

PYMNTS

OCTOBER 2, 2019

If you look across the technology industry and the payments industry, the pace and movement of change is accelerating,” Mike Kresse, division executive for card and money movement at FIS , recently told PYMNTS in an interview. To get a sense of where faster payments are headed, look to the consumer. Particularly in the U.S,

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C2B Faster Payments Real Time Payments Lockbox 81

PYMNTS

MARCH 2, 2018

Push payments. In an interview with PYMNTS’ Karen Webster, Drew Edwards, Ingo Money CEO , helped clarify the nomenclature and delved into push payments, a form of instant payments. A quick rundown of terms would include fast funds, Same Day ACH and, of course, “real-time payments,” which seems to be a catchall phrase.

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Instant Payments ACH Real Time Payments Push-to-Card 48

PYMNTS

JULY 1, 2019

Between the big news about Libra and the segment-wide spin-up for Prime Day in two weeks, one might have assumed we have hit something of a lull between news events, if for no other reason than to let the big payments and commerce players catch a breather. Visa Beefs up Tokenization With a Rambus Buy.

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Push-to-Card Real Time Payments Same Day ACH ACH 40

PYMNTS

OCTOBER 8, 2018

It was a lively discussion, and it, like the conversations over the course of that day, was held under Chatham House Rules. Rails and railroads, Buffet wrote in Berkshire’s 2016 Annual Letter, are four times as fuel efficient as trucks , requiring only a single gallon of diesel fuel to move a ton of freight 500 miles. s footsteps.

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B2B Same Day ACH Payments ACH 76

PYMNTS

JUNE 19, 2017

With credit cards, she noted, the assumption by the consumer remains that the payment is done in real time, at, say a POS, right when they walk away with their purchased items. One issue is that the payment rails currently in use were not designed to support a real-time environment. For CGI’s own clients, as the U.S.

Real Time Payments 64

Real Time Payments Faster Payments ACH Same Day ACH 64

PYMNTS

MARCH 5, 2018

The buyer-supplier relationship goes beyond regulatory requirements like Know Your Customer. Business-to-business (B2B) trade, especially when deals occur across borders, expose businesses to all sorts of risks, like non-payment (on the supplier’s side), or non-deliver (on the buyer’s side). This reduces risk, as a regulated bank is handling money.

Risk 42

Risk Cross-Border Non-Bank Risk Mitigation 42

PYMNTS

FEBRUARY 22, 2017

That same month, the company introduced Notifi , an alert system that aggregates information across financial institutions to give customers alerts on a single platform. Those alerts can be low balances or suspicious card activity, for instance, and can be sent via test message, email or push notification in mobile banking apps.

NACHA 51

NACHA Same Day ACH ACH Innovation 51

PYMNTS

AUGUST 12, 2019

But for the Fed and its rails, they say, employees will be resigned to the bad old days of antiquated payroll systems that force them to live paycheck to paycheck, and at great financial risk. Ever notice your paycheck takes days to clear ?” Ironically, perhaps, the ACH network’s first direct deposit use case was the U.S.

Real Time Payments 78

Real Time Payments FedNow TCH Fed 78

PYMNTS

FEBRUARY 11, 2019

NACHA and Same Day ACH debuted EXACT DATE to enable same-day settlements through three settlement windows, and are currently exploring options to extend that availability on weekends and holidays. Now, we have checks, we have wires, we have ACH. Now, we have checks, we have wires, we have ACH.

Faster Payments 78

Faster Payments Real Time Payments Same Day ACH Payments 78

PYMNTS

MARCH 7, 2016

Sleep experts contend that people just sleep less than they used to, maybe even as much as 20 percent less than even a few decades ago. That is unless you live in Melbourne, Australia, where things seem pretty chill. Those guys and gals sleep the most of anyone in the world – about six and a half hours a night – and pretty peacefully.

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Online and Mobile Banking Payments Financial Inclusion Same Day ACH 46