Faster payments

To make commercial cards more viable, stakeholders in the B2B payments ecosystem need to break down traditional constructs and dynamically price card transactions so that they complement the commercial relationship between buyers and supplier, according to Dean Leavitt, CEO of Boost Payment Systems.

Data that exists as static facts and figures on a spreadsheet often has little in-the-moment value. But when it's real-time and expressed as a dynamic visualization, it becomes instantly digestible and increasingly actionable, according to Michael J. Alfonsi, senior vice president of digital solutions and strategy at Exela Technologies.

As the Federal Reserve guides the U.S. on its steady march toward a faster payments system, a thorny issue continues to plague some of the most prominent efforts: Could the smaller banks stay abreast of the technologies that larger banks are readily supporting and deploying?

Companies that rely on contract work also depend on diversifying revenue streams, a cycle that will repeatedly place fresh stress on an already complicated payroll system.

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.

Financial crisis-era rebel Simple is turning to payments innovation — along with its traditional combativeness on fees and rates — to stay relevant against the many fintechs lurking at the edges of the banking world.

Banks and credit unions will have to re-engineer a number of systems to meet the eclectic demands of the generation born roughly in the last 10 to 20 years.

Banks will have to re-engineer a number of systems to meet the eclectic demands of the generation born roughly in the last 10 to 20 years.

Called Bill Pay Exchange, it will power instant bill pay for consumers from their bank or credit union accounts in a matter of seconds versus days when using the traditional bank bill pay ACH network.

For bankers and network providers, it’s a given that moving to a real-time payment system like Zelle will lead to an increase in fraud attempts. Here's a look at the ways they're fighting back.

Profits at big banks should be solid if not spectacular; the Vermont senator proposes a hard cap on assets held by the biggest banks.

For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be.

The push for faster payments in the U.S. has suffered from the lack of a government mandate, which in other countries resulted in a common, streamlined system. Now it's time for the disparate U.S. platforms to come together.

The payments industry is engaged in 40 active real-time payments programs worldwide, but it's not as chaotic as it sounds — except in the U.S.

Sourcemedia's annual PayThink conference is always productive and informative, and this year's event was no exception.

Merchants increasingly fall short of security standards as digital commerce innovation pressures risk management.

As the major banks grapple with the slow and steady implementation of The Clearing House’s Real Time Payments (RTP) system, one organization, Ingo Money, is forging ahead in delivering faster payments for its clients and their customers using the card networks’ push payments rail.

More than half of U.S. financial institutions have made same-day ACH funds available without seeing any major shifts in fraud. But observers warn that as same-day ACH introduces broader access and bigger transactions, it will become a bigger temptation for fraudsters.

The Office of the Comptroller of the Currency has been taking the lead on a federal license for fintech firms, but the central bank will decide if such companies can access the payments system and other benefits.

Uber’s corporate existence has jumped from one PR crisis to another, but the company has always been lauded for how seamlessly it handles payments. Until now.