Real-time payments

Faster and real-time payments are finding more and more use cases, but the razor-thin transaction windows are alluring to fraudsters who want to make a swift getaway with stolen funds.

Readers react to Sen. Warren's plan to weed out Washington corruption, Facebook CEO Mark Zuckerberg's testimony before Congress, restricting the Federal Reserve's proposed real-time payments system and more.

Many small banks remain skeptical of the payments network because it is owned and operated by big banks and they are waiting for the Federal Reserve to launch a rival service.

Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way.

Western Union has gone live with a service enabling real-time cross-border remittances to India harnessing Unified Payments Interface, the central bank’s payment rails.

Leveraging new technology and APIs, Fiserv has rolled out CheckFree Next, a major update of the core CheckFree bill payment technology Fiserv acquired in 2007.

Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way.

Citing banks' growing focus on end-to-end payment processes, Bottomline Technologies says it is adding the Real-Time Payments network from The Clearing House to its digital banking platform.

Mastercard is testing two new bill payment services, with an eye on improving speed for consumers and businesses.

U.S. Bank has hired payments veteran Peter Gordon to fill a new post as head of emerging payments product and strategy, tapping his years of experience developing real-time payments technology.

Vocalink beat out four other competing bids to secure a 10-year contract to provide real-time switching and settlements for U.K. ATM operator Link Scheme.

Susan French, head of product at BBVA Open Platform, discussed the bank's vetting of fintech partners and how it deals with the competitive threat that their products present.

One Republican lawmaker went so far as to suggest that Congress should try to block the central bank's effort, but Democrats said FedNow will promote competition in real-time payments.

Here are companies whose strong visions and timely ideas commanded attention at the technology conference in New York this week.

The Clearing House is working to add its Real-Time Payments (RTP) network as a third payment rail for Early Warning Services’ Zelle P2P payments service and to enable Zelle bill pay and possibly point of sale transactions.

Fair Isaac Corp. has added a platform alongside its 25-year-old FICO Falcon fraud-detection solution for credit and debit cards that aims to ferret out risky and fraudulent real-time payments.

Since joining U.S. Bancorp in 2007, Leslie Godridge has been largely responsible for building its corporate bank from a regional operation to a nationwide powerhouse.

From her perch atop a global business that processes $455 trillion in payments each year, Diane Reyes sees the push to bring real-time processing to the U.S. through an international lens.

Increased adoption of The Clearing House’s faster payments system could put pressure on community banks and credit unions awaiting the launch of the Fed’s competing service, FedNow.

The promise of real-time payments and the reality of the market are often at odds. That’s not a bad thing — it’s a sign there are pockets of demand that weren’t originally foreseen.