It’s not just the speed of payments that’s important, but also the data that payment operators gain as more consumers use faster forms of digital and mobile transactions. The collection, analysis and use of such payments-related data will help shape future trends in commerce and...
The cost of college tuition is skyrocketing across the country, and the financial burden falls on many parents and students. Legacy college tuition payment methods, such as personal checks or credit cards, can be slow and costly, adding to many families’ frustrations. Parents and higher...
In just three years, one word, one idea, has rewritten the payments rulebook: “instant.” Driven by faster phones, ingenious apps and sheer market force, the move to instant is pushing the boundaries of what’s possible with payments, opening up new worlds of risk and reward....
When 98,000 U.S. public schools send paper-based invoices to parents for expenses like field trips, they often get paid with cash or checks. In the latest Faster Payment Tracker, Jerry Banks, CEO of educational transaction processing platform Bursari, discusses how digital invoicing and mobile payments...
Despite the demonstrated benefits, the adoption of real-time payments has not been, well, particularly speedy. Many businesses cite the lack of ubiquity and high upfront costs for their halting shift to digital payment solutions. Still, the need for speed, convenience and safety is universal and...
With a problem at the Federal Reserve that has since reportedly been fixed, direct deposits, as well as other financial transactions, were delayed on Thursday (Dec. 19). Banks were told about a “disruption” in the automated clearing house (ACH) network that brought about delays in...
The Federal Reserve System has joined the U.S. Faster Payments Council (FPC) as a founding sponsor, the Fed announced in a press release on Thursday (Dec. 5). “Our payment system is a vital part of America’s infrastructure that touches everyone,” said Esther George, president and...
Small business is the lifeblood of the U.S. economy, and cash flow is the lifeblood of small businesses. Firms struggle when funds don’t reach their accounts in a timely manner. Silvana Hernandez, senior vice president of digital payments and labs at Mastercard, tells Karen Webster...
Real “hockey-sticking” ignition is a fairly rare phenomenon. Lots of innovators come to market claiming they’re ready to explosively disrupt the status quo, but the number of products that actually do manage that kind of up-and-to-the-right adoption pattern are far fewer in number. In the...
