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

Faster Payments Open Global Markets to Smaller Companies
Faster Payments Open Global Markets to Smaller Companies
February 03, 2025  |  Cross-border Payments

Just a few years ago, cross-border payments were inefficient at best and filled with friction at worst. They were opaque and took days to settle....

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From Klarna to Nelly: CEO Says Process Innovation Can Scale Digital Health Across Europe
From Klarna to Nelly: CEO Says Process Innovation Can Scale Digital Health Across Europe
February 03, 2025  |  Healthcare

If you’re looking for a training ground in payments and the digital economy, you could do worse than the buy now, pay later (BNPL) space....

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Kraken Debuts Instant Crypto Payments Offering Kraken Pay
Kraken Debuts Instant Crypto Payments Offering Kraken Pay
January 29, 2025  |  Cryptocurrency

Cryptocurrency exchange Kraken now lets users make payments with their accounts. Kraken Pay allows users to choose the crypto or fiat currency in their accounts...

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Recurring Payments Feature to Draw $30 Billion in Payments to Brazil’s Pix
Recurring Payments Feature to Draw $30 Billion in Payments to Brazil’s Pix
January 28, 2025  |  eCommerce

The soon-to-be-released recurring payments feature of Brazil’s payment system, Pix, is reportedly expected to draw $30 billion in eCommerce payments alone to Pix in two...

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Bank Account Intelligence: The New Frontier in Credit Decisioning
Bank Account Intelligence: The New Frontier in Credit Decisioning
January 28, 2025  |  Authentication

A bank account represents a direct connection to a business or consumer’s daily financial life. It holds all manner of data points that give lenders...

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UK’s FCA Proposes Removing Contactless Limit to Allow ‘Greater Flexibility’
UK’s FCA Proposes Removing Contactless Limit to Allow ‘Greater Flexibility’
January 22, 2025  |  Regulation

The U.K.’s Financial Conduct Authority may remove the 100-pound (about $123) contactless limit and “set new digital service standards” as part of its efforts to...

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72% of Workers Prefer Instant Payroll If Given Choice
72% of Workers Prefer Instant Payroll If Given Choice
January 22, 2025  |  Payroll

As criticism of traditional biweekly and monthly payroll systems increases, workers in gig, freelance and contract roles are more vocal about the financial strain caused...

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88% of Firms Say They Benefit From Faster Payments
88% of Firms Say They Benefit From Faster Payments
January 17, 2025  |  Faster Payments

Late payments are a common issue for businesses, especially small- to medium-sized businesses (SMBs) struggling with cash flow. As payment delays persist, businesses are turning...

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Bank of America’s Take on Latin America’s Digital Payments Advantage
Bank of America’s Take on Latin America’s Digital Payments Advantage
January 13, 2025  |  Digital Payments

Digital payments are growing in Latin America as companies like Mercado Libre and TerraPay rapidly advance digital banking and digital wallets in the region. Central...

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