Faster payments

The goal is to get a better understanding of past incidents, thereby arming the Fed to improve its response as more companies implement faster payments.

U.S. Bank wants to disrupt the way consumers pay their bills by offering billers a new platform fit for faster payment rails, new messaging formats and digital assistants.

PSCU also found in its second-annual payments study that Americans were turning to debit cards over credit cards.

Eliminating checks from corporate payments will take many more years, but Nacha’s latest data suggests the B2B category is playing a key role in Same Day ACH's growth.

The FedNow real-time payments settlement network from the Federal Reserve could launch prior to its estimated 2024 time frame, but a lot of pieces have to fall into place to make that happen.

South Africa’s payments industry wants to displace cash by enhancing its B2B-focused digital payment system to add instant low-value mobile P2P transactions.

Banks need to ditch their "wait and see" approach to making real-time payments available to their customers says Vinay Prabhakar, Volante’s vice president of product marketing.

Payroll advance provider Branch has partnered with Mastercard and Evolve Bank & Trust to offer a debit card that allows hourly workers to instantly access a portion of their earned wages ahead of their periodic paycheck.

Intuit has partnered with Visa to enable QuickBooks users to get faster access to funds through Visa Direct, the network’s debit push payments service.

The Federal Reserve’s FedNow instant payments system will dramatically speed up payment processing, essentially allowing people and businesses to receive money in their accounts within seconds of a transaction, says the Retail Industry Leaders Association's Austen Jensen.

U.K. fintech Revolut will use Bottomline Technologies' Universal Aggregator to manage a software-based real-time payments button.

Rather than homing in on specific methods to accommodate real-time payment processing, Wells Fargo realized a mix is the best bet to avoid inadvertently leaving parts of its client base in the dark.

Banks and merchants can already access solutions that can provide a real-time experience and process payments on the best set of rails for any particular use case, says BillGo's Kelly Seidl.

The key is that FedNow will provide speed, equal access and an infrastructure that enables the private sector to build cross-platform solutions, says BillGo's Kelly Seidl.

Rep. Denver Riggleman, R-Va., explains why he’s introduced legislation requiring greater transparency over the Federal Reserve’s incoming payment system.

There is no way to know exactly what the market will look like in 2023 or 2024 when FedNow debuts. First State Bank of St. Charles is working on a solution that can help its customers right away, says Luanne Cundiff, the Missouri bank's president and CEO.

The use of data-rich messaging through the ISO 20022 standard has been at the core of nearly every Federal Reserve discussion about faster payments, as well as Swift's plans for its member banks.

Digital financial services provider Revolut is expanding a partnership with Visa that will allow it to nearly double its global footprint by adding 24 new markets, including the U.S.

There is no way to know exactly what the market will look like in 2023 or 2024 when FedNow debuts. We're working on a solution that can help our customers right away, says Luanne Cundiff, president and CEO of First State Bank of St. Charles in Missouri.

In the payments world, Scharf is best known as the CEO of Visa Inc. from 2012 to 2016, where his strategies for faster payments, fintech partnerships and other key issues may shed light on what he has planned when he becomes CEO of Wells Fargo.