Real-time payments

With the cost of processing business transactions remaining stubbornly high, a number of U.K. fintechs are working to facilitate open banking payments, a method which could soon enable consumers and businesses to make faster payments at a lower cost.

Customers will be able to use the service by clicking on the QR transactions option and using their camera to scan the code that appears on the app screen.

In many ways, the payments industry resembles the health care business — pulled into the future by rapid digitization and conflict over the role of government.

WeWork has gotten its share of bad news this year, but parts of its concept are filtering into small business retail, providing one clue of what the next wave of shopping and payments will look like.

Visa has formed a strategic partnership with Global Processing Services. It also announced its Visa Direct debit push service will power real-time cross-border payments in Europe via TransferWise.

The Fed's real-time payments system won't be up and running for years, but consumers and businesses demand faster payments today.

A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit.

The Fed's real-time payments system won't be up and running for years, but consumers and businesses demand faster payments today.

Stephen Ranzini, CEO of University Bank, says The Clearing House's RTP and Early Warning's Zelle handle enrollment, encryption and authentication insecurely.

In a sit-down interview, Cleveland Fed President Loretta Mester discusses how the FedNow real-time payment system will work alongside a big-bank one.