Transaction volumes with Australia’s real-time payment system may exceed 2 million daily, but it was a long road to enable the widespread use cases seen today, says Katrina Stuart, head of engagement at New Payments Platform Australia (NPPA). In the Real-Time Payments Tracker, Stuart reflects...
Demand for faster payments has been increasing worldwide as consumers and businesses seek more convenient services. Central banks and payment systems operators are catering to these needs by launching real-time payment systems that settle transactions within seconds, helping businesses get paid faster and allowing consumers...
The original use case for instant payments had an anniversary last week. It was March 17, 2016 when Uber launched its beta version of Instant Pay, a push-to-card solution that gave its drivers the option to get paid instantly after a ride was completed. The...
Sports might have been sidelined by COVID-19 in 2020, but online sports betting was not. In fact, Flutter, the parent company of FanDuel — one of the major online sports betting outfits in the U.S. — turned in an impressive 81 percent revenue growth in...
No one ever said that developing real-time payments would be easy. While more businesses are realizing the need for the velocity and data that comes with real-time payments, they’re also realizing that it’s challenging to safeguard such systems. “These struggles are leading many to examine...
Financial services firm Brex has expanded its instant payouts feature to sellers on Shopify, according to an announcement emailed to PYMNTS. The feature lets sellers access sales revenue “within seconds,” the instant payouts website stated, as opposed to the normal payout process, which takes 14...
Following a selection process that included the Bank of Canada, Payments Canada will partner with Interac Corp. to serve as the exchange solution provider for the country’s Real-Time Rail (RTR). Expected to be introduced next year, the RTR will be operated by Payments Canada and...
The pandemic has put a fine point — an exclamation point, really — on the need to make disbursements more efficient by digitizing them. Part of that efficiency can be seen in the form of speed, which can make all the difference to the person...
Consumers know the drill. Get a phone bill, send a check, time when the check reaches the provider, estimate when it gets deposited, and estimate when the funds clear. (Mental note: Will you have enough in the account?) Or make a debit payment with the...
