Faster payments

Often overlooked as prospects by financial services institutions who have increasingly focused on the wealthy, hourly workers represent a massive pool of underserved consumers with distinct financial needs.

The pressure on banks, financial institutions and payment service providers to act as effective gatekeepers in the fight against financial crime is intense. Real-time payments considerably complicates that challenge, writes Sophie Lagouanelle, head of solutions at Accuity.

Banks don't compete with each other enough to effectively lead the move to faster payments in the U.S., argues CMSPI's Mark Horwedel.

The Clearing House's Real-Time Payments hasn't grown as fast as it would like, but recent small-bank adoption is providing momentum for a network that assumes the Federal Reserve won't start its own real-time service.

The payments space is expected to see continued consolidation, new fraud patterns and more contactless cards for the second half of 2019.

Brazil is the latest Latin American country to establish plans for a low-cost instant payments network with the aim of increasing financial inclusion and eliminating cash from the economy.

Over time, real-time payments could become the predominant payment type while virtually eliminating cash and checks.

The U.S. still relies on antiquated payment processing technologies while other countries can process in real time. What's the holdup?

On-demand wage delivery has caught on in other industries. Banks have taken notice.

Mobile technology has improved the process of sending cross-border remittances, but most international money transfer services still have a long way to go before they’re streamlined and real-time.

Janet Estep is nearing the end of her tenure as Nacha’s CEO, but she's no less devoted to overcoming the last hurdles to implementing faster payments.

Competition from the public sector in payment services has benefited the public and should not be discounted in the development of a real-time system, said Kansas City Fed chief Esther George.

Banks and governments around the world have invested in systems that seek to instantly transfer money between accounts, moves that could put pressure on the sprawling debit card business at the world’s largest payments network. But Visa Inc. Chief Executive Al Kelly isn’t too worried.

Cloud-based treasury software provider Kyriba is partnering with JPMorgan Chase to launch a real-time payments API integration for its mutual corporate finance clients.

Targeting a 100% gpi ratio for Swift payments among banks will be crucial to enlarging the global reach of payments, writes Marc Recker, global head of institutional market management and cash management for Deutsche Bank.

Seven European banks are testing Swift's Global Payments Innovation real-time cross-border payments through the continent's Target Instant Payment Settlement process.

The private sector will be able to provide more efficient and innovative technologies for the industry.

The private sector will be able to provide more efficient and innovative technologies for the industry.

The bank is hoping the venture will encourage more companies to use Quorum, the Ethereum-based blockchain it built five years ago.

Intuit Inc.'s QuickBooks is adding next-day ACH payments to its platform as a faster payments option for small businesses using its business management tools.