Faster, faster, faster — that’s the motto driving so much of payments innovation today. Real-time payments offers promise for both small and medium-sized businesses (SMBs) and consumers. That holds especially true for the Asia-Pacific region, as InstaReM CEO and Co-Founder Prajit Nanu discussed with Karen Webster in...
SWIFT is expanding its network-wide payments validation toolkit, announcing Thursday (May 2) a new “in-flight” cloud-based payment investigation and resolution service. In a press release, SWIFT said the new feature allows for dynamic query handling between banks on the SWIFT network. With the tool, banks...
Many countries around the world are rolling out instant payments schemes that bring speed and convenience to payments made within their own borders. Unfortunately, those benefits are often limited when it comes to cross-border payments. A London-based manufacturer can’t rely on the U.K.’s Faster Payments Service (FPS) to quickly shuttle funds...
Recent studies show that financially stressed employees are more distracted and less effective at work. That’s why companies like Uber and Lyft are tackling the issue by providing early access to earned wages. Other industries want to follow suit, but they must do so without...
While the Federal Reserve deliberates on whether it will create its own real-time payment (RTP) system, The Clearing House (TCH) is working to head off the competition by making a stronger case for its RTP being the best path to real-time payment ubiquity in the...
JPMorgan announced this week it’s launching SEPA Instant in Europe as part of its efforts to advance its real-time payments offerings. In an announcement, the bank said the launch of SEPA Instant in Europe rounds out its real-time payment capabilities in USD, GBP, and EUR,...
When The Clearing House (TCH) unveiled the Real-Time Payments (RTP) system in 2017, it propelled swifter payments and brought about the next generation of fund transfers. It wasn’t the first to roll out such a system, but it was the first “major payments upgrade” in...
How about now? The millennial and Gen Z workforce doesn’t just want to be paid a fair wage, but to be paid as it is earned. In this month’s Faster Payments Tracker, DailyPay CEO Jason Lee discusses how instant payments are becoming table stakes for...
Demand for instant and peer-to-peer (P2P) payments is heating up, and financial institutions (FIs) are seeking to cater to that need, knowing that if they don’t, their customers are likely to turn elsewhere. This month’s Faster Payments Tracker™ explores the latest developments, as FIs and other...
