faster payments

Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from the three working days that transfers take using the long-established BACS system, to typically a few seconds.

Source: en.wikipedia.org

Scotiabank Sounds Off On Canada’s First Payments Modernization Step
Scotiabank Sounds Off On Canada’s First Payments Modernization Step
October 03, 2018  |  B2B Payments

While Europe and the U.K. move forward with open banking initiatives, and the U.S. makes progress on faster payments, Canada is in the midst of...

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TRENDING: How Travel Insurers Use Push Payments To Help Travelers In Trouble
TRENDING: How Travel Insurers Use Push Payments To Help Travelers In Trouble
October 03, 2018  |  Disbursements

Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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Survey Shows EU Treasurers Find PSD2 Irrelevant
Survey Shows EU Treasurers Find PSD2 Irrelevant
October 02, 2018  |  B2B Payments

The European Union’s (EU’s) updated Payment Services Directive (PSD2) and Open Banking regulations have been hailed as having widespread impacts on the region’s financial services...

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Vocalink On The Grim Facts Behind Financial Crime’s $1.4T Toll
Vocalink On The Grim Facts Behind Financial Crime’s $1.4T Toll
October 02, 2018  |  Security & Fraud

Halloween comes early this year as we delve into a slew of grisly facts about financial crime in our latest Data Drivers. Losses amount to...

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As The Gig Economy Grows Up, Clashes Emerge Over Its Nature
As The Gig Economy Grows Up, Clashes Emerge Over Its Nature
September 28, 2018  |  Gig Economy

It’s probably getting to the point that everyone who doesn’t have gig work — offering rideshares via personal vehicles, for instance, or doing other freelance...

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SWIFT gpi Makes Inroads Into Malaysia
SWIFT gpi Makes Inroads Into Malaysia
September 27, 2018  |  B2B Payments

On the heels of the uptake of its global payments innovation initiative, SWIFT has said it is working with Malaysian banks. Elsewhere in the payments infrastructure...

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Faster Payments Go Live In Hong Kong
Faster Payments Go Live In Hong Kong
September 27, 2018  |  Payments Innovation

Hong Kong has launched the Faster Payments System (FSP), which allows users to send money almost instantly using a mobile number or email address as...

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