Faster payments

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.

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

One Republican lawmaker went so far as to suggest that Congress should try to block the central bank's effort, but Democrats said FedNow will promote competition in real-time payments.

The Clearing House is working to add its Real-Time Payments (RTP) network as a third payment rail for Early Warning Services’ Zelle P2P payments service and to enable Zelle bill pay and possibly point of sale transactions.

The Federal Reserve Banks put the brakes on their planned migration of the ISO 20022 messaging standard, delaying a three-phased migration established in 2017 that targeted November 2020 as the start of that process.

Two months after a successful test to connect banks using the Global Payments Innovation service to faster payments rails in Singapore, Swift is launching a new service to connect with other domestic real-time payments systems.

The industry is waiting to see if banks will get the same no-cost land leases on military bases that credit unions currently enjoy.

When the payments industry's decision makers gathered in Los Angeles at SourceMedia's annual PayThink conference, certain topics dominated the discussion.

From her perch atop a global business that processes $455 trillion in payments each year, Diane Reyes sees the push to bring real-time processing to the U.S. through an international lens.

It's not a reaction to JPM Coin, the banks says, but a way to speed up international payments for corporate clients.

Credit unions are upping their involvement in all things related to payments in an attempt to bolster the bottom line and ensure they keep up with the competition.