Real-time payments

As real-time payments become more common, UBB's partnership with fintech Pidgin offers a roadmap for smaller banks to stay relevant.

Security worries have kept many financial institutions from sending payments on TCH's real-time payments network and FedNow. But ABNB Federal Credit Union had other ideas. Here's how its team prepared.

It was the largest U.S. transaction ever to instantly settle, following The Clearing House's new transaction ceiling that went into effect Sunday.

The lack of a government requirement has slowed adoption in the U.S., but there are signs demand is picking up.

A new EU law that requires interoperability and universal support for instant processing goes into effect this week, providing clarity that the U.S. lacks, while ABN Amro says restrooms generate transaction revenue. That and more news in this week's global payments roundup.

About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why aren't more using it?

Real-time payments and FedNow were top of mind at The Clearing House's annual conference this week. Here's how banks and payment companies see RTP's potential evolution.

The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

The bank's acquisition of embedded finance firm Rize Money and collaboration with open banking firm Trustly will enable the bank to grow real-time processing, account-to-account transfers and address emerging compliance challenges.

Since launching in summer 2023, the government-backed instant settlement network has attracted hundreds of financial institutions, but there is still room for growth.

The government-backed instant processing network has been live only since the summer of 2023, but it's already indirectly boosting usage at an unrelated bank-led rail from The Clearing House.

The organization says 'request for pay' has gotten early traction with billing and account-to account transfers. Now it's targeting consumer-to-government and digital wallet disbursements.

The bank is connecting billers and brokerage accounts as it builds the case for instant funding. It also points to countries such as Brazil and India as models to follow.

Brazil's Pix network, at just three years old, now accounts for 15% of all global real-time payments — and its success is inspiring projects in other countries.

Banks can choose to only receive transactions instantly, and it's the most popular choice. Simply preferring to get paid faster isn't the reason.

The Federal Reserve would seem to offer a compelling alternative to the bank-backed RTP network, but some credit unions — which typically see bank systems as competitive threats — are making more nuanced choices.