From sending money to college-aged children, to splitting lunch checks among friends, Gen X consumers are increasingly embracing mobile peer-to-peer (P2P). But enabling P2P payments can be a tall order for community banks, which may lack the resources to develop them, says Kristy Brandon, senior...
SWIFT and Microsoft have partnered with Bank of New York Mellon (BNY Mellon) to finalize the trial of Cloud Connect, a new payments solution, BNY Mellon announced in a press release on Tuesday (Sept. 24). Cloud Connect hosts SWIFT infrastructure and enables payment transfers via...
Financial providers worldwide are working to give small and medium-sized businesses (SMBs) quick access to their funds. Digital banks, for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with...
Cross River, a company that provides banking services for technology companies, will join The Clearing House’s (TCH) RTP network, according to a release. By joining the network, Cross River will be able to give its clients the ability to send, settle and clear payments instantly,...
Hurricane Dorian may be officially over, but for those in the Southeastern United States and the Bahamas, the rebuild is just getting started. According to the experts, the damage Dorian left in its wake was massive – and costly. Insurers estimate it will cost them as...
Quickly sending large sums of money abroad in 1803 might have meant loading gold bars onto ships and hoping for good weather and safe seas. In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable...
With a 132 percent annual turnover rate, at a cost of $2,000 per worker, employee retention is no small problem for quick-service restaurants (QSRs). On-demand access to payroll and tips could turn the tide, says Instant Financial Co-Founder and CEO Steve Barha. Here’s how real-time...
New developments could speed up instant payments in the U.S. Last week, the Federal Reserve announced it would give some competition to The Clearing House’s Real Time Payments (RTP) with its own real-time payments service, FedNow. This is a significant advance, considering it will be...
The faster payments landscape is changing rapidly, most recently with the U.S. Federal Reserve’s announcement that it will launch its own real-time payment and settlement system called FedNow. The much-awaited decision dismayed large banks that regard a government-run system as unnecessary competition with their own...
