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

Fed Looks To Keep Momentum Going On Payments Improvements

Fed Looks To Keep Momentum Going On Payments Improvements
Fed Looks To Keep Momentum Going On Payments Improvements
September 07, 2017  |  B2B Payments

It’s been more than two years since the Federal Reserve issued its Strategies for Improving  the U.S. Payment System paper, in which the Fed outlined initiatives...

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NEW REPORT: Same Day ACH Gets Its First Sequel
NEW REPORT: Same Day ACH Gets Its First Sequel
September 06, 2017  |  Real-Time Payments

In mid-September, the second phase of the Same Day ACH initiative will roll out across the U.S. faster payments system. But unlike last year’s rollout,...

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Staffing Changes And New Initiatives Announced At NACHA
Staffing Changes And New Initiatives Announced At NACHA
September 04, 2017  |  Merchant Innovation

NACHA, the Electronic Payments Association, announced Friday several staffing changes along with realignment of some responsibilities – efforts the overseer of the ACH network said...

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Federal Reserve Names New Payments Strategy Director
Federal Reserve Names New Payments Strategy Director
August 25, 2017  |  B2B Payments

The U.S. Federal Reserve has named a new payments strategy director tasked with heading the agency’s payment system improvement initiatives. The Fed first announced Dave Sapenaro as the...

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Slowing Down Fraud When Payments Speed Up
Slowing Down Fraud When Payments Speed Up
August 24, 2017  |  Cybersecurity

There’s much to look forward to as the September rollout of Phase 2 of Same Day ACH (Debit Pull) looms, but David Barnhardt, executive vice...

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ICBA Bancard CEO: Community Banks Move Faster Payments Forward
ICBA Bancard CEO: Community Banks Move Faster Payments Forward
August 14, 2017  |  Banking

Community banks have long been heralded as local leaders that create jobs and reinvest in their communities, but ICBA Bancard President and CEO Tina Giorgio...

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Pay By Sound: It’s Back!
Pay By Sound: It’s Back!
August 09, 2017  |  Payment Methods

Sound travels at 767 miles per hour, so if you want a faster contactless payment, audio waves aren’t a bad vehicle for it. Get the...

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Icon Solutions Takes Next Step In Linking US Banks To Faster Payments
Icon Solutions Takes Next Step In Linking US Banks To Faster Payments
August 07, 2017  |  B2B Payments

Icon Solutions announced news last week it had begun testing connectivity between its Instant Payments Framework (IPF) and U.S.-based limited liability company The Clearing House’s new...

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