The Clearing House’s RTP network launched in 2017. The FedNow Service, the central bank’s foray into real-time payments, debuted in the summer 2023. And yet real-time payments — while getting some serious global traction — still have a lot of runway left for consumers and...
Payments innovation often steals the spotlight from its less flashy cousin, payment advances. But beneath developments like artificial intelligence and real-time payments, bill presentment has quietly emerged as a critical component of financial institutions’ and billers’ strategies, playing an essential role in enhancing customer experience,...
As digital economies race to streamline the payment process, the checkout experience is at the forefront of change, with innovations around customer experience and security redefining how merchants and consumers engage with payment technologies. Merchants, payment service providers (PSPs) and issuers must align their strategies...
The ability to embed payments across nonfinancial touchpoints and into existing systems is transforming business models across industries with new monetization opportunities. “There has definitely been an uptick in B2B-type platforms that are looking to add additional services to their product offering,” Justin Downey, vice...
For years, enhancing payment security often came at the expense of user convenience. Complex authentication processes, multistep verifications and transaction delays were the norm. However, as payments innovation heats up, companies are looking to use advanced technologies to create solutions that are both secure and...
Payments modernization and cloud migration are two phrases that often get mentioned in the same sentence. However, that might be a limited view. Payments modernization can take place outside the cloud as new technologies and data reshape the ways and means of delivering a seamless...
To paraphrase a saying attributed to Charles Darwin, it’s those most responsive to change that ultimately survive. And from the 19th century Galapagos to the 21st-century global payments landscape, those words continue to ring true. With the demand for seamless payment solutions growing at an...
The new administration is barely a month old, so it’s too soon to tell exactly what financial services regulation will look like. But with the pause on rulemaking and the overall pause on the Consumer Financial Protection Bureau in place, it seems like we’re headed...
For decades, payments infrastructure was largely controlled by major financial institutions and legacy processors, with limited flexibility for customization. However, the rise of open banking, cloud computing and API-first development has changed the equation. Payment platforms are now embracing API-first products and developer-friendly architectures, enabling...
