Real-time payments

For the last two years, the central bank has allowed the private sector to drive a process aimed at modernizing the nation's payments system. Now the Fed will have to determine what its own role will be.

An influential task force established by the central bank envisions a future in which the U.S. has multiple real-time payment systems, and in a new report it lays out a series of actions that will be necessary to stitch them together.

Seeing a need for virtual and legacy payments worlds to better connect, Push Payments and partner linked2pay developed a real-time payments system that can function as that connective tissue.

Real-time payment processing is drawing more attention to tangible use cases, such as helping workers pay bills that are due before they receive their salary.

The Society for Worldwide Interbank Financial Telecommunication plans to add instant payments messaging for the European market by late 2018, marking another step in its ongoing faster payments projects.

The U.S. should worry about falling behind as other countries have already invested in real-time payment (RTP) systems, according to new research from Mercator Advisory Group.

Calling it a first in international payments, the Society for Worldwide Interbank Financial Telecommunication [Swift] is providing a cross-border, real-time payments tracker for banks handling global transactions.

A group of credit unions is working to get a jump how real-time payment processing fits into their world, even as the broader payments industry wrestles with questions about the technology's implementation.

With The Clearing House still targeting November for the launch of its Real-Time Payments service, it relies on a wide range of partnerships to introduce this offering to the banks that would use it.

D+H Corp. has opened its technology to U.S. banks for testing on The Clearing House’s real-time clearing and settlement network in the next phase of development of faster payments.