Real-time payments

JPMorgan Chase has joined the Single Euro Payments Area real-time payments scheme by adding the Sepa Instant Credit rail to its network in Europe.

The Fed should continue to play a key role in the new payments system, rather than leaving it in the hands of the country’s largest banks, Thomas Hoenig and Bruce Summers argue.

Payment processor and financial messaging integrator Volante Technologies is partnering with the Banco Base financial group to provide end-to-end payments software for domestic and international payments.

The speed of technological change is forcing Britain’s retail payments authority Pay.UK to redesign its core infrastructure.

The Fed should continue to play a key role in the new payments system, rather than leaving it in the hands of the country’s largest banks, Thomas Hoenig and Bruce Summers argue.

Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday.

Beyond Apple’s glitzy product rollouts this week, the tech giant quietly notified users of new policies and a fee to Apple Pay Cash, the account in which the Apple Card deposits rewards.

PayPal is expanding its Instant Transfer service beyond debit cards, establishing a service for instant money movement from PayPal accounts to bank accounts.

Apps that let people access their pay on demand have become wildly popular. Do they solve a problem, or are they Band-Aids?

The slow U.S. adoption of real-time payments hurts half of Americans who live paycheck to paycheck, says Aaron Klein, a fellow at the Brookings Institution.

Business management software provider Sage will partner with U.K. fintech Modulr to deliver real-time salary and supplier payments to small and medium-size businesses in the country.

Peru is planning a real-time payment system with Vocalink that will put the country on par with similar systems in Thailand, Singapore, the U.S. and the U.K.

Banco de Mexico (Banxico), Mexico's central bank, is developing a free mobile payment system to increase digital transactions — and while it is meant to target cash use, it may inadvertently cannibalize card payments as well.

The Federal Reserve has suggested it could join the market for instant interbank payments, but private-sector entrants would be better.

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?

The Federal Reserve has suggested it could join the market for instant interbank payments, but private-sector entrants would be better.

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.

Two trends — competition from challenger banks and the emergence of real-time payments — threaten to eat away at the fees banks collect on overdrafts and bounced checks.

Hungary’s commercial banks have started the initial testing phase of an instant payments scheme, with plans to go live on July 1 for domestic broadscale use.

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.