Real-time payments

The Fed's faster payments platform may well roll out in three or four years, but by then it will already be outdated.

As the coronavirus pandemic began, PayActiv waived fees for its earned wage access (EWA) user base. Eventually those fees returned, but they did not deter adoption.

For real-time payments to become a standard in U.S. billing and payment processing, businesses have to want what providers are developing. And that acceptance, or the interest in having an RTP option, is on the rise.

The Fed's faster payments platform may well roll out in three or four years, but by then it will already be outdated.

The past few months have provided no shortage of crises that call out for faster access to funds, giving developers a new impetus to hasten transaction processing.

The central bank released new details about FedNow, which officials hope to get off the ground before a 2023 or 2024 target launch date.

The measure would release $2 million in funding for the U.S. Postal Service to launch pilot programs to provide basic services such as checking accounts and bill payment.

The agency's voice carries even more weight in light of the coronavirus pandemic, which has hastened the transition to digital and remote payments.

Payments in Brazil are about to make a significant pivot, turning a country in which consumers rely heavily on cash and remain skeptical about payment cards into the next region to pioneer faster payments.

DBS Bank India is offering a real-time digital payment service for truck drivers and supply chain companies that generally have round-the-clock operations and large transaction volume to cover employee expenses.