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

Businesses Expect Swift, Convenient Insurance Claim Payouts
Businesses Expect Swift, Convenient Insurance Claim Payouts
April 26, 2022  |  B2B Payments

Small businesses that have experienced property loss or damage rely on their insurance companies to give them the funds they need to get back on...

READ MORE >
PayPal, Venmo to Change Instant Transfer Fees
PayPal, Venmo to Change Instant Transfer Fees
April 21, 2022  |  Faster Payments

PayPal has announced plans to change the fees related to its Instant Transfer offerings for U.S. consumers and merchants on PayPal and Venmo, according to...

READ MORE >
Hong Kong’s Faster Payment System Exceeds 10M Registrations
Hong Kong’s Faster Payment System Exceeds 10M Registrations
April 19, 2022  |  Faster Payments

There are now more than 10 million users registered for the Hong Kong Monetary Authority’s (HKMA’s) Faster Payment System (FPS), the digital platform that launched...

READ MORE >
Report: Merchants Struggle to Balance Consumers’ Rising eComm Demands With Regulatory Mandates
Report: Merchants Struggle to Balance Consumers’ Rising eComm Demands With Regulatory Mandates
April 15, 2022  |  eCommerce

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

READ MORE >
Contis Teams With Ecospend to Deliver Faster Payments to MrQ Gaming Site
Contis Teams With Ecospend to Deliver Faster Payments to MrQ Gaming Site
April 11, 2022  |  Partnerships

Banking-as-a-Service (BaaS) provider Contis is teaming with open banking technology firm Ecospend to bring a closed-loop, instant account-to-account payment and withdrawal solution to online gaming...

READ MORE >
Mountain America Credit Union on How Swift Bill Pay Can Help FIs Increase Customer Engagement
Mountain America Credit Union on How Swift Bill Pay Can Help FIs Increase Customer Engagement
April 11, 2022  |  Faster Payments

As consumers and businesses increasingly head online to pay their bills, their expectations for a convenient, seamless instant payment experience are also rising. In the...

READ MORE >
Delinquencies and DSO Dive When AR Payment Processes Are Automated
Delinquencies and DSO Dive When AR Payment Processes Are Automated
April 08, 2022  |  B2B Payments

Manual accounts receivable (AR) processes lead to inefficient payment acceptance and credit assessment, which ultimately results in a slower collection process.  Get the Full Story...

READ MORE >
Survey: Faster Payment Methods Will Soon Be the Norm as Consumers Rely on Smartphones
Survey: Faster Payment Methods Will Soon Be the Norm as Consumers Rely on Smartphones
April 08, 2022  |  Faster Payments

When it comes time to pay their bills, many consumers are turning to their smartphones, while a recent survey by PayNearMe found that 45% of...

READ MORE >
Real-Time Payments Can Help CUs Gain Strategic Advantage, PYMNTS Research Shows
Real-Time Payments Can Help CUs Gain Strategic Advantage, PYMNTS Research Shows
April 08, 2022  |  Credit Unions

For traditional financial institutions — particularly for relatively smaller firms, including credit unions — speed will increasingly be a determining factor in keeping retail and...

READ MORE >