Many major companies rely on international trade and global supply chains. Keeping these trade flows operating smoothly requires quick, reliable delivery of payments. Consumers similarly demand convenient, rapid money transfer services — especially the many workers who regularly send money overseas to their families. Payment...
The year 2020 is nearly upon us. The shift to real-time payments has yet to keep up with the anticipation — with a notable lack of traction among merchants. Sarah Adams, vice president of global product at First American Payment Systems, tells PYMNTS that new technologies,...
With real-time payments spreading throughout the world (perhaps more slowly than expected, but still spreading), the characteristics of pull payments mean they are likely to play only a marginal role. That’s the view shared by Trevor LaFleche, director, product management, Enterprise Payments Platform Solutions, at Fiserv,...
First Investment Bank (Fibank) is the first Bulgarian bank to offer the SWIFT Global Payment Initiative (gpi), according to a press release. SWIFT gpi provides fast international payments, and in September the bank started offering payments through the platform, which it said helped to not...
Instant payments are more promise than reality in the US. Citi’s global head of payments and receivables, Manish Kohli, tells Karen Webster that lack of ubiquity is a hindrance, but interoperability and enhanced messaging can help set the stage for widespread adoption – and transformation,...
Faster payments are quickly being embraced by consumers, and are on track to gain traction across C2B, B2C and B2B transactions. Mike Kresse, division executive of card and money movement at FIS, lays out the natural — and linear — progression for PYMNTS.
There are 54 faster payment schemes globally, with more on the way. Craig Ramsey, head of real-time payments at ACI Worldwide, tells PYMNTS that speed will become the "new normal" for FIs, which will need to embrace APIs and a whole new way of approaching daily...
The phrase “slow payment cycles” conjures up the image of old school buyer-supplier relationships and the 30- to 90-day payment window created by an inefficient paper-dominated cycle. However, it probably doesn’t bring to mind the developer economy, because it’s such a thoroughly modern ecosystem it...
Consumers, businesses and governments are seeing faster payments as a path to greater convenience and financial security, and this growing demand is spurring payments services providers (PSPs) to meet this need in a swift, secure manner. That consideration includes assessing the potential benefits and risks...
