Faster payments

Swift is showing more swagger in its rivalry with Ripple thanks to progress it has made with a multifaceted payments-tracking technology called GPI.

Swift is showing more swagger in its rivalry with Ripple thanks to progress it has made with a multifaceted payments-tracking technology called GPI.

The use cases for faster payments are typically considered to be somewhat niche. But if any payment can be made in real time, why should full-time employees wait two weeks for every paycheck?

Digital banking and payments provider PrePay Solutions is partnering with PayQuicker to help with currency conversions in payroll management programs globally, and to expand PayQuicker's capabilities for its clients' international workers.

Investors in a hurry can instantly add funds to a TD Ameritrade account through Apple Pay using the brokerage’s new messaging chatbot.

Cross River Bank has formed a partnership with Stripe that will handle every debit push payment within its platform in near real time via Mastercard Send and Visa Direct.

By adopting faster payments, businesses have more flexibility to make last-minute payments and emergency payrolls, or gain a larger window for early-payment discounts.

As the federal budget dispute shoves an increasing number of government workers to the sidelines, there’s a window to provide payments relief that’s superior to options such as payday lending and bartering.

The rise of contactless cards could eclipse mobile payments adoption, experts predicted, while evolving fraud threats may give rise to increased account controls for consumers.

Even the best technologies take time, making it necessary to rein in expectations about what will happen and won't happen in the coming year.