Fednow/page/4 news and trends

Walmart Teams With Fiserv on Instant Bank Payments
Faster Payments // September 19, 2024

Walmart is reportedly enhancing its pay-by-bank offering via a partnership with Fiserv. The retailer began offering pay-by-bank with Walmart Pay earlier this year, Bloomberg reported Thursday (Sept. 19). But those transactions, processed through the Automated Clearing House, typically took three days to finalize. Under the...

First Citizens Offers Instant Payments via RTP Network
Faster Payments // September 10, 2024

First Citizens Bank now lets customers receive instant payments via the RTP network. The offering is open to business and consumer banking customers, allowing them to receive secure, instant payments in their savings and checking accounts, the bank announced Tuesday (Sept. 10). “In today’s fast-paced financial environment,...

68% of Businesses Plan to Add Instant Payments Within 2 Years
Faster Payments // September 09, 2024

Instant payments have captivated businesses and consumers with the promise of a more agile financial ecosystem. Despite widespread enthusiasm, however, the transition from traditional payment methods to real-time systems like the Federal Reserve’s FedNow® Service and The Clearing House’s RTP® network is experiencing hurdles. The...

Affinity Plus CU Launches Real-Time Payments Service
Real-Time Payments // August 22, 2024

Affinity Plus Credit Union has unveiled a new real-time payments service for its members, giving them instant access to their funds. Through the FedNow® Service and RTP® Network, the credit union will enable its members to securely receive instant payments from financial institutions and service...

Interviews & Exclusives
68% of Businesses Plan to Add Instant Payments Within 2 Years

September 09, 2024
Instant payments have captivated businesses and consumers with the promise of a more agile financial ecosystem. Despite widespread enthusiasm, however, the transition from traditional payment methods to real-time systems like the Federal Reserve’s FedNow® Service and The Clearing House’s RTP® network is experiencing hurdles. The PYMNTS Intelligence report “Are Challenges Still Holding Back Instant Payments […]

Report Finds That Faster Payments Boost Federal Reserve Banks’ Bottom Line

August 21, 2024
The Federal Reserve’s latest report to Congress offered a snapshot of money spent — and returns on investment — on all manner of payment systems. As real-time fund flows gain...

Why New Use Cases Like Pay by Bank Will Fast-Track FedNow

August 01, 2024
Since the FedNow® Service went live last July, more than 900 have banks have signed up, per the Federal Reserve. Is that a good number? Keith Olson, vice president of...

Will Earned Wage Access Unlock FedNow Sender Adoption?

July 30, 2024
One year on, FedNow and instant payments are seeing a groundswell of interest and intention to speed up funds paid out to individuals. Taking stock of the July 2023 launch...

Quick Reads
Walmart Teams With Fiserv on Instant Bank Payments

September 19, 2024
Walmart is reportedly enhancing its pay-by-bank offering via a partnership with Fiserv. The retailer began offering pay-by-bank with Walmart Pay earlier this year, Bloomberg reported Thursday (Sept. 19). But those transactions, processed through the Automated Clearing House, typically took three days to finalize. Under the new system, customers who make pay-by-bank transactions will see the […]

First Citizens Offers Instant Payments via RTP Network

September 10, 2024
First Citizens Bank now lets customers receive instant payments via the RTP network. The offering is open to business and consumer banking customers, allowing them to receive secure, instant payments in...

Affinity Plus CU Launches Real-Time Payments Service

August 22, 2024
Affinity Plus Credit Union has unveiled a new real-time payments service for its members, giving them instant access to their funds. Through the FedNow® Service and RTP® Network, the credit...

Modern Treasury Expands Instant Payments Support to Mutual Customers at 6 Big Banks

August 14, 2024
Modern Treasury has expanded instant payments support for mutual clients of six top banks. “Money is moving swiftly toward a real-time future, and seeing customers use Modern Treasury to enable instant...