Fintech Finance

SEPTEMBER 13, 2024

This comprehensive guideline provides essential insights and best practices for financial institutions (FIs) as they navigate the complex landscape of instant payments. With contributions from industry experts, the guideline aims to help FIs enhance their operational readiness for real-time payments, including RTP® and FedNow®.

Instant Payments 131

Instant Payments Faster Payments FPC Real Time Payments 131

FICO

AUGUST 26, 2021

As it happens, there’s a lot more happening in the real-time payments arena than just PayPal, Venmo and Zelle. Let’s take a look at the current trends, with a focus on the US, and how banks can better arm themselves to fight fraud in this rapidly growing payments channel. in addressable payment volume.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve FedNow 52

The Fintech Times

DECEMBER 1, 2024

In a move to make cross-border transfers more accessible and seamless for customers, HSBC Singapore has been working alongside money movement solutions provider, Dandelion. This enhancement tripled HSBC’s cross-border payment capabilities, adding 50 new destinations and 40 new currencies.

Cross-Border Payments 59

Cross-Border Payments Cross-Border Multi-Currency Wire Transfer 59

PYMNTS

FEBRUARY 15, 2019

The alternative for institutional clients looking to send large sums, he noted, in the past, would have been a wire transfer that might have taken hours or even days. Moreover, that lag time, apart from being annoying, added to the opacity of the pricing, since currency exchange rates fluctuate.

Real Time Payments 73

Real Time Payments Blockchain Stablecoins Bitcoin 73

PYMNTS

MARCH 29, 2018

Not with a bang, but with a whimper: That’s how Gene Neyer, chief strategy officer at Icon Solutions and this week’s Commander in Chief , says real-time payments technology will overtake the industry. Rome wasn’t built in a day, and neither will the new real-time payments empire come to fruition overnight.

Real Time Payments 43

Real Time Payments Consumer Wire Wires 43

PYMNTS

SEPTEMBER 11, 2019

According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. Currently, there are 57 real-time payments rails operating in more than 72 countries, with even more under construction.

Cross-Border Payments 76

Cross-Border Payments Cross-Border ISO 20022 Real Time Payments 76

PYMNTS

JULY 5, 2020

Due to the real-time factor, fraud can be mitigated, the release states. The service is also payment-agnostic, able to verify accounts for payments including wire transfers, automated clearing houses (ACH) and real-time payments.

Faster Payments 96

Faster Payments Payment APIs and Integration Wire Transfer Real Time Payments 96

PYMNTS

DECEMBER 23, 2020

The flexibility freelancers value often fails to manifest in their payments experiences, however. Wire transfers are a common method through which these workers receive cross-border payments and these payments can present numerous problems, even if they go smoothly.

Cross-Border Payments 108

Cross-Border Payments Cross-Border Wire Transfer Wire 108

PYMNTS

APRIL 29, 2019

It would instead have to turn to expensive wire transfers, credit cards — which can take days to settle — or account-to-account transfers, which also can take several days to process and incur fees if passed through intermediary banks. Privately-owned companies are also looking to solve the cross-border payments problem.

Interoperability 77

Interoperability ISO 20022 Instant Payments Cross-Border 77

PYMNTS

NOVEMBER 27, 2020

One-third of B2B payments are processed electronically, but accounting professionals are still pushing to expand that share. The push for real-time payments is often stymied by challenges to its implementation, however. Upgrading legacy systems to accommodate real-time payments can also be costly.

API 95

API B2B Transactions Instant Payments 95

PYMNTS

MARCH 12, 2020

Faster payments are only one example of the effects of a world moving toward real-time everything, with growing customer demands driving change in the way banks and businesses operate themselves. As such, the consequences of real-time payments aren’t solely impacting consumers’ peer-to-peer ( P2P ) transaction activity.

RTP 85

RTP Real Time Payments Zelle Faster Payments 85

PYMNTS

JANUARY 6, 2021

The discussion took place as Diaz looked back at the 15 months that have passed since Banxico launched Cobro Digital (CoDi), the national digital payments platform that uses QR codes and NFC to enable users to transact with mobile devices.

Central Bank 145

Central Bank Financial Inclusion Wire Transfer Payments 145

Fintech Finance

AUGUST 1, 2024

Nium’s local account details offer customers the convenience of: Reduced funding or collections overhead by eliminating the costs involved with cross-border wire transfers and lack of transparency in FX conversions Increased transaction speed by utilizing local real time payment rails like Instapay (PH), PIX (BR), SPEI (MX), and many more Eased (..)

Cross-Border 98

Cross-Border Cross-Border Payments Wire Transfer Wire 98

PYMNTS

MARCH 11, 2020

It’s the Feds versus the Free Marketeers, and the feud between them is over whose real-time payments (RTP) rails will rule them all. National high-speed payment rails open to the public for nominal usage fees (or for free) could … no, will have far-reaching economic and lifestyle impacts. It’s a question of when.

Faster Payments 74

Faster Payments Federal Reserve FedNow RTP 74

PYMNTS

OCTOBER 25, 2016

Software created by the two companies will allow businesses and their banks to transfer cash using Visa’s technology, rather than using other methods, such as a check or wire transfer.

Cross-Border Payments 80

Cross-Border Payments Cross-Border Bitcoin Wire Transfer 80

PYMNTS

OCTOBER 24, 2016

One of the biggest areas facing skepticism with blockchain technology and B2B payments is the idea that corporates don’t need real-time payments, as would be provided by Visa B2B Connect. Real-time payments, however, enable a company to wait as long as they want to without forcing the supplier to get paid late.

Blockchain 77

Blockchain B2B Real Time Payments Payer 77

PYMNTS

SEPTEMBER 26, 2019

This month’s Deep Dive explores how push payments speed transactions, as well as the benefits and potential challenges of their use in real-time payment systems. Common forms of pull payments include debit cards and paper checks. Real-Time Payment Schemes. When ‘Pull’ is Not Fast Enough.

Payer 67

Payer Push-to-Card Real Time Payments Payee 67

PYMNTS

OCTOBER 1, 2020

He noted that AeroPay has partnered with Safe Harbor Private Banking , a division of its partner Colorado Credit Union , to provide a digital bank-to-bank payment option for larger cannabis firms. AeroPay recently said it had closed a seed funding round for an undisclosed amount led by Continental Investors.

B2B 108

B2B Underserved Wire Transfer Payments 108

PYMNTS

MARCH 23, 2020

These workers will likely still expect fast payments regardless of the markets in which their employers are based. Facilitating cross-border payments can be problematic for businesses and their partner banks, especially as real-time payment platforms become more popular.

Cross-Border Payments 61

Cross-Border Payments Cross-Border Wire Transfer Wire 61

PYMNTS

APRIL 25, 2019

While the Federal Reserve deliberates on whether it will create its own real-time payment (RTP) system, The Clearing House (TCH) is working to head off the competition by making a stronger case for its RTP being the best path to real-time payment ubiquity in the U.S. Arou nd the Faster Payments World.

Real Time Payments 49

Real Time Payments Faster Payments TCH Interoperability 49

Nanonets

SEPTEMBER 1, 2023

The US Federal Reserve's new payment rail FedNow can shake up the landscape, offering significant time and cost savings. In this blog post, we delve into how FedNow could impact businesses and their vendor payment practices. However, these modern payment options require trade-offs between speed and costs.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52

PYMNTS

JUNE 25, 2018

A new report from Aite Group suggests financial service providers aren’t quite sure how real-time payments will play out in the corporate arena. With regards to cost, Aite found that 10 percent of banks plan to charge the same as they do for wire transfers when it comes to real-time B2B payments.

Real Time Payments 40

Real Time Payments Wire Transfer Wires Wire 40

Payment Savvy

MAY 16, 2023

Instant ACH Transfer Alternatives RTP Network The RTP (Real-Time Payments) Network, launched by The Clearing House, is an alternative option for those seeking instant money transfers.

ACH 94

ACH Same Day ACH Direct Deposit Consumer Financial Protection Bureau (CFPB) 94

Fintech Finance

JANUARY 9, 2025

As a cloud-based, API-first solution, Payments4 was built for the requirements of modern treasury with a scalable platform that adapts to evolving business demands, from managing domestic wire transfers to navigating complex cross-border payments. Reduce repetitive work and ensure accuracy with recurring payment templates.

Treasury 52

Treasury Payment APIs and Integration Cross-Border Cross-Border Payments 52

Stax

MARCH 14, 2024

Consumers are increasingly gravitating towards quick and convenient payment methods such as contactless payments and mobile wallets when transacting with businesses. Industry data shows that the B2B payments landscape is rather diverse. TLDR B2B payments are payment transactions that occur between two businesses.

B2B 88

B2B Process B2C Credit Cards 88

The Fintech Times

AUGUST 4, 2024

Nium’s local account details offer customers the convenience of: Reduced funding or collections overhead by eliminating the costs involved with cross-border wire transfers and lack of transparency in FX conversions. Eased payment reconciliation with real time transaction alerts along with transparent sender information.

Cross-Border 59

Cross-Border Wire Transfer Wire Wires 59

Payment Savvy

MAY 15, 2023

This might be useful for institutions that don’t need to send payments themselves but want to offer the convenience of real-time payment receipt to their customers. Liquidity Management Transfers: This option is focused on managing the liquidity of a financial institution.

FedNow 52

FedNow Federal Reserve Liquidity Management Instant Payments 52

The Fintech Times

FEBRUARY 21, 2024

However, Arjeh van Oijen , head of product management, Icon Solutions , the banking transformation firm, notes that with the emergence of new cross-border payments facilities, this is going to change the banking system as we know it. The advantage is lower fees and 24×7 availability.

Cross-Border Payments 78

Cross-Border Payments Cross-Border ISO 20022 SWIFT 78

PYMNTS

JANUARY 9, 2019

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. “Wire transfer fraud is of particular concern for corporate treasury,” the company wrote. In the case of Same Day ACH in the U.S.,

Faster Payments 56

Faster Payments Business Email Compromise Treasury Real Time Payments 56

PYMNTS

JANUARY 4, 2019

In the Middle East, ACI Worldwide said this past week that the National Bank of Kuwait (NBK) has launched the SWIFT global payments innovation (gpi) for its customers. In a release at the end of the year, the real-time payments and banking solutions provider said that NBK customers can make same-day transfers of funds.

Instant Payments 67

Instant Payments Funds Transfer Online and Mobile Banking Payments 67

PYMNTS

DECEMBER 18, 2019

Innovation in the payments arena has provided more rails upon which to move money. In B2B payments, though, legacy tools continue to lead. Local and global ACH transfers are used by 29 percent (the same portion of businesses that write checks to make international payments), while 17 percent use prepaid debit cards.

B2B 52

B2B Credit Union Electronic Funds Transfer (EFT) RTP 52

PYMNTS

MARCH 9, 2020

Instead, they might be making payments with electronic ACH deposits, wire transfers, or some other electronic deposit, which is difficult for the corporate treasurer to reconcile. And, as checks are on the decline and electronic payments are on the uptick, new payment streams are coming in — that is, real-time payments.

Treasury 66

Treasury Wire Transfer Reconciliation Checks 66

PYMNTS

OCTOBER 21, 2019

The decision will be made based upon an array of factors, including which payment method offers the lowest cost to the payer, enables the fastest delivery and other parameters pre-established by the treasurer client.

Faster Payments 40

Faster Payments Automation Same Day ACH RTP 40

PYMNTS

APRIL 22, 2020

With Same Day ACH adoption proliferating, he said, larger financial institutions aren’t experiencing the negative impact on wire transfer fee revenue they had initially expected, meaning these banks are also expanding their interest in participating in FinTech solutions like Everee’s. A New Normal For Payroll.

Payroll 62

Payroll ACH Same Day ACH Innovation 62

PYMNTS

DECEMBER 12, 2017

Earlier this year, Citi announced that it is partnering with financial services technology firm FIS to heighten its faster and real-time payments services. Their collaboration sees FIS integrating its Trax business payment services into Citi’s treasury management offering via CitiConnect APIs.

Cross-Border 40

Cross-Border ACH Treasury Payment APIs and Integration 40

PYMNTS

MAY 26, 2016

The company has also launched a global payment remittance service to facilitate cross-border payments via ACH, paper check, wire transfer and other rails , according to Tipalti. The new AP platform uses that information to provide real-time payment and financial reporting.

Wire Transfer 41

Wire Transfer Cross-Border Payments Cross-Border Best Practices 41

Payment Savvy

SEPTEMBER 5, 2024

While it’s not instant like a wire transfer, it’s still much quicker than waiting for a check to clear. ACH deposits are usually cheaper than other methods like wire transfers or sending paper checks. First, let’s look at ACH deposits versus wire transfers. This tech allows for immediate transfers.

ACH 52

ACH ACH Network Wire Transfer Direct Deposit 52