The gaming payments provider Mazooma has unveiled a new feature that allows players to receive immediate payments into their bank accounts. This feature is the result of a partnership between Mazooma and Fifth Third Bank, with real-time withdrawals for sports wagering and iGaming players available...
Three years is a long time, and it is how long payment industry stakeholders will have to wait to see if FedNow, the instant payments service being developed by the Federal Reserve, succeeds in its pursuit of interoperability and ubiquity. There are plenty of real-time...
Interest in real-time payments adoption is on the rise among small community banks. In this month’s Real-Time Payments Tracker, Kelly Burdette, senior vice president of product and delivery for Bank Independent, explains how real-time payment rail adoption can help community banks compete against regional and...
The pandemic has accelerated real-time payments’ (RTP) expansion, with businesses, banks and consumers seeking ways to send and receive funds as swiftly and as easily as possible. Approximately 150 financial institutions (FIs) are now integrated with The Clearing House (TCH)’s RTP® Network, indicating both an...
Saudi Arabia’s Saudi Payments Network is teaming up with IBM and Mastercard to launch instant payments in the kingdom. The country’s new instant payments system — called “sarie” — aligns with Saudi Vision 2030 and Saudi Arabia’s Financial Sector Development Program (FSDP). The vision plan is calling...
When it comes to payments, the need for speed is a global phenomenon. Real-time payments have gained tremendous traction all over the world during the past year. Part of that growth was fueled by the pandemic, but it was also fueled by the momentum real-time...
The Federal Reserve’s FedNow program, intended to streamline the clearing and settlement process, will be tested by five Northern California regional banks and three credit unions (CUs), according to a report from North Bay Business Journal. FedNow, which will be fully implemented by 2023, will...
The U.S. Federal Reserve on Wednesday (March 31) released message specifications for its instant payment service, FedNow. Set by the International Organization for Standardization, or ISO, these specifications set the message flows and formats for when the service begins operating in 2023. The Fed said...
Many nations have been joining the real-time payments scene as they catch on to the benefits these systems offer. Fifty-six countries had their own immediate payments systems up and running in 2020 — a far cry from the 14 that said they had them in...
