Citi unveiled Single Euro Payments Area (SEPA) Instant Payments in Europe, the latest of its instant payments offerings, according to a company press release on Wednesday (May 4). The launch of Citi’s SEPA Instant Payments in Europe “will provide clients with the ability to pay...
A Money Mobility network connects accounts, payment methods and third-party platforms to make the flow of money more secure, efficient and intuitive for account holders. These networks might be decentralized, existing solely through on-demand connections initiated by a consumer. They could take the form of...
The Clearing House says it plans to boost security and better protect customers from cyber hacks and fraud via tokenization, according to a company press release Monday (May 2). By substituting a customer’s actual account numbers or sensitive data with random digits or tokens, the...
The Federal Reserve has started onboarding the first participants to the FedNow Service pilot program, beginning the instant payment service’s initial testing phase, according to a Monday (May 2) press release emailed to PYMNTS. FedNow is on track to roll out next year. Over 120...
A pilot program for immediate cross-border (IXB) payments is being launched by EBA CLEARING, SWIFT and The Clearing House (TCH), garnering banking support from the U.S., the U.K. and western Europe, according to a press release emailed to PYMNTS on Thursday (April 28). Anticipated to...
U.S. Bank on Thursday (April 21) launched a real-time payment collaboration with Apex Fintech Solutions that offers greater speed and security to money movement between investors and brokers, according to a joint press release. Apex subsidiary Apex Clearing Corp. provides clearing and custody services to...
PayPal has announced plans to change the fees related to its Instant Transfer offerings for U.S. consumers and merchants on PayPal and Venmo, according to a Thursday (April 21) press release. Personal accounts on PayPal and consumer and business profiles on Venmo will pay 1.75%...
There are now more than 10 million users registered for the Hong Kong Monetary Authority’s (HKMA’s) Faster Payment System (FPS), the digital platform that launched in September 2018, according to a South China Morning Post report Tuesday (April 19). FPS allows users to transfer money...
The global health crisis required both businesses and consumers to change the way they conducted routine transactions, both with purchasing and bill payments. The pandemic’s economic impacts forced businesses in particular to reevaluate their methods for moving money. One recent survey found that 49% of...
