SWIFT announced Thursday (March 21) that six Spanish banks, representing 85 percent of the cross-border payments market in Spain, have adopted SWIFT global payments innovation or gpi. In a press release, SWIFT said with SWIFT gpi the cross-border payment transaction experience is greatly improved, with...
When it comes to payments, consumers overwhelming prefer them to be faster. It’s a trend visible in the latest edition of the PYMNTS/Ingo Money Disbursements tracker, where three-quarters of consumers responded that they actively wanted faster payments. It is also the conclusion of common sense,...
“Connect the dots” is used as a metaphor to describe how a series of discrete events can explain a “big picture” – often high-impact – action or outcome. Steve Jobs, in his famous 2005 Stanford commencement address, said connecting the dots was only possible with...
When credit cards first debuted in 1920s America,they brought with them myriad benefits. Consumers no longer had to carry hard currencies, and they could make purchases using money they expected to earn. In turn, businesses could more easily sell higher-priced items. While the benefits were...
It turns out that fast, convenient payments (or the lack thereof) are often the deciding factor for which games highly in-demand referees decide to work in the $17 billion youth sports industry. In this month’s Faster Payments Tracker, organized athletics tech provider Stack Sports' CEO...
SWIFT announced Thursday (February 28) that more than $40 trillion has been transferred over its gpi service last year. In a press release, SWIFT said its rapid adoption resulted in the share of cross-border messages using gpi having jumped to 56 percent at the end...
Faster payment schemes are advancing worldwide, with the global real-time payments market expected to increase at a compound annual growth rate (CAGR) of 32 percent between 2019 and 2025. Slovenia is due to see an instant payments platform launch from Bankart this month, while Malaysia...
The European Commission is looking at ways to get banks to use its TARGET Instant Payment Settlement (TIPS) system, which is designed to enable people and companies transfer euros to each other in seconds. According to a report in Reuters, with slow adoption among banks to...
Metabank has launched a new payments platform to help its partners disburse funds almost instantly, according to a release by the company. The new platform includes Mastercard Send, a push payments service designed to rapidly send money in the U.S. and also across borders. With...
