The FedNow Service instant payments system is slated to launch next year — a culmination of an effort stretching out more than three-and-a-half years, a pilot program with more than 100 participants and the development and testing of multiple product features, functions and use cases....
Three transformations will shape the trajectory of the global payments infrastructure business over the next three years, ACI Worldwide Chief Product Officer Debbie Guerra told PYMNTS. First and foremost is the transition to real-time payments, as FedNow looms for a May 2023 launch. Real-time payments,...
Equals Group is set to acquire Roqqet in a deal subject to regulatory approval. In a press release announcing the acquisition Monday (Nov. 28), the U.K.-based FinTech Equals said the purchase of the open banking payments firm will enable it to offer its merchant customers...
Faster payments take center stage this coming year, as FedNow, the U.S.-based instant payments network, gets up and running. But as Wells Fargo Head of Enterprise Payments Strategy Ulrike Guigui recounted to PYMNTS’ Karen Webster, instant payments have been around since before the pandemic. And...
As treasury departments around the world look ahead to 2023, the words on most lips are “real time.” On the one hand, new rails that enable real-time payments, from payroll to business-to-business (B2B) transactions, are already having a transformative effect on businesses and are expected...
In the run-up to the launch of the FedNow real-time payments platform, financial industry insiders are anticipating what the Federal Reserve’s new baby will look like when it arrives sometime in summer 2023. Among them is Sam Aarons, co-founder and chief technology officer of Modern...
With inflation near multi-decade highs, a growing number of individuals are clocking in and logging onto platforms to take advantage of the on-demand work environment. Most gig economy platforms surveyed in a recent PYMNTS study see double-digit growth in the number of 1099 workers they...
Money transfer firm MoneyGram has teamed with Bahrain’s Beyon Money for a collaboration that lets Beyon users send money to more than 200 countries in near real time. “The Beyon Money super app enables consumers in Bahrain to connect to local bank accounts to review...
Consumers have filed roughly 2,400 complaints against the three largest U.S. sports betting operators in the last three years, citing delays or glitches in withdrawing winnings. That’s according to a report Saturday (Nov. 12) by the Wall Street Journal, which cites records from the Better...
