Wage growth is still on the rise despite the recently cooling job market, leading some employers to turn to pay-related “perks” in order to retain workers. Bureau of Labor Statistics data published earlier this month noted that hiring has cooled from its previous breakneck pace....
The dollar value of payments made by Same Day ACH have nearly doubled compared to a year ago. During the first quarter, the value of these same-day payments leapt about 95% year over year to $565.3 billion and the number of payments increased about 21%...
Open banking platform Plaid says it is giving users the ability to make instant payouts. The company announced Thursday (April 13) that it was adding an instant payout feature to the Plaid Transfer product. This means users can make transactions through the RTP (real-time payments)...
American Express and payments firm Cuscal have teamed to help Australian customers repay charges in minutes. The partnership, announced Thursday (March 23), involves what American Express (Amex) says is the first card bill PayID service in Australia, using the country’s New Payments Platform (NPP) real-time...
The Federal Reserve’s FedNow real-time rail debut is imminent. Financial institutions (FIs) including banks and credit unions have been using services from Zelle to rails like the RTP Network from The Clearing House (TCH). Jim Colassano, SVP, RTP product management at The Clearing House; Meghan...
The Federal Reserve has a launch date for its long-awaited payments service FedNow. The U.S. central bank announced Wednesday (March 15) that the service will debut in July, providing all financial institutions with an instant payments tool. “With the launch drawing near, we urge financial...
South Africa’s central bank says the country is closer to “a more accessible national payment system.” That’s due to the Monday (March 13) launch of PayShap, which the South African Reserve Bank (SARB) describes as a “low-value, real-time rapid payment platform” designed to improve financial...
India’s United Payments Interface (UPI), the real time payments system, is showing explosive growth. And the tailwind to digital payments adoption, along with linkages to other countries’ real time network — forging an interoperable network — may prove instructive here in the states, as the...
Instant checkout, scan-and-go and unattended retail have been buzzwords as consumers flock back to stores. Turning promise into reality is something else entirely. Peter Davey, senior vice president and head of the Innovation Lab at The Clearing House, said the path toward the ultimate, seamless...
