Real-time payments

The Accredited Standards Committee X9 is forming a group to study faster and real-time payments activity in the financial industry and eventually recommend new X9 standards and upgrades that would enhance interoperability and adoption.

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

HSBC for the first time is offering customers a way to send funds instantly across borders to other HSBC customers via a mobile device.

With Brazil's Central Bank launching the PIX instant payments network Monday, Uber and Ebanx quickly announced they are expanding their partnership to enable Brazilians to make instant payments through PIX for Uber rides and Uber Eats orders.

As futuristic as real-time digital payments can be, the concept is almost like a blast from the past for FIS’ Raja Gopalakrishnan.

Real-time payments carry a trove of valuable data for supply chains, and a way for card networks to grow beyond card-dependent revenue. The collaboration between Payments Canada and Mastercard’s Vocalink will go a long way toward both ends.

Mastercard and PayPal have added to an existing partnership by using Mastercard Send to support immediate access for debit transfers via PayPal's mobile in nine European markets.

A California startup and a century-old Missouri bank, which began using The ClearingHouse's real-time payments network this summer, say businesses have embraced the technology to pay suppliers and gig-economy workers and quickly close real estate deals.

Two smaller banks with strikingly different roots — a startup financial institution in Irvine, Calif., and a century-old Missouri-based bank — are seeing similar trends emerge around demand for real-time payments.

There's going to be a strong emphasis on the creation of financial products underneath innovative, customer-centric innovation from big tech companies, says FIS' Raja Gopalakrishan.