Merchant

For real-time payments to become a standard in U.S. billing and payment processing, businesses have to want what providers are developing. And that acceptance, or the interest in having an RTP option, is on the rise.

A rise in chargebacks has renewed a push for an independent standards body by the SPP, formed in 2018 to represent merchant groups .

The Fed's faster payments platform may well roll out in three or four years, but by then it will already be outdated.

The past few months have provided no shortage of crises that call out for faster access to funds, giving developers a new impetus to hasten transaction processing.

The seemingly positive embrace of contactless payments raises important questions about how we can safeguard access to cash, especially for the most vulnerable members of society, says Moorwand's Luc Geuriane.

Ulule is working with Bank of the West to build name recognition. It hopes to collaborate with other banks and credit unions as it vies with larger companies such as Kickstarter and GoFundMe.

The industry will have to grapple with pressure on net interest margins, interchange income and credit quality, said CUNA Mutual's Steve Rick during a virtual conference.

The industry's return on average assets has already dropped substantially and there are predictions that could get even worse. Many institutions will have to deal with elevated provisions for loan losses and expense management to survive.

The Paycheck Protection Program has masked what has been a year of tepid demand and tightened lending standards. And bankers aren't expecting a rebound anytime soon.

A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.