FinTech company FIS said Tuesday (Feb. 4) that it is now certified to enable send capabilities for credit transfers in the FedNow® Service. By offering this capability on the Federal Reserve’s instant payment service, FIS will help its financial institution clients provide a modernized digital...
Late payments are a common issue for businesses, especially small- to medium-sized businesses (SMBs) struggling with cash flow. As payment delays persist, businesses are turning to faster payment solutions to ease financial pressure, improve operations and strengthen supplier relationships. The PYMNTS Intelligence report “Need for...
Eight years after launching the RTP® instant payments network, The Clearing House logged a stellar 2024. Early Wednesday (Jan. 8), the consortium announced that more than $246 billion moved over the RTP network in 2024, up 94% from 2023. Transaction volume was up 38% to...
Visa will begin enabling faster delivery of money with Visa Direct, making funds transferred to U.S. bank accounts available within one minute. This capability will begin in April 2025, allowing consumers, businesses and governments to use Visa Direct to deposit money to bank accounts linked...
Worldpay introduced what it called a “first-of-its-kind service” capable of delivering near-instant refunds. The refunds — the speed of which depends on the receiving financial institution — are designed to help close the gap between consumer expectations and merchant capabilities, the company said in a...
Digital bank PicPay is offering access to Brazil’s Pix instant payment system via WhatsApp. The new artificial intelligence (AI)-powered offering, announced Monday (Nov. 11), is made possible by PicPay’s partnerships with WhatsApp owner Meta and Microsoft. “Unlike traditional chatbot assistants, PicPay’s GenAI, developed in-house and powered by Microsoft...
From vendor pay to gig workers, enterprises are merging into the fast lane for payments. And as enterprises adopt models that rely on agile, ad hoc transactions, instant payments, once considered an option for specific payment scenarios, are now emerging as a central pillar of...
The last thing that a merchant wants is to see a consumer or business customer go through the process of identifying the product or service that they want and get to the finish line, only to abandon the transaction. The key to avoiding such a...
Same Day ACH volume on the ACH Network leapt 65.7% in the third quarter compared to a year earlier, while the value of those payments rose 38.8%. Those increases brought the number of Same Day ACH payments in the third quarter to 355.2 million and...
