The Federal Reserve has announced pricing for the FedNow Service, its instant payments system that is to be launched in the middle of 2023. “To support widespread adoption of instant payments, the Federal Reserve is offering key pricing discounts for new FedNow Service customers in...
Construction management software provider Procore has launched a tool it says will help solve a perennial problem in its industry: slow payments. Procore Pay, built in partnership with Goldman Sachs, is a payment functionality built into the Procore platform, the company said in a news...
The term “central bank” brings to mind thoughts of stability, resilience and trust, all things that have been part of the Federal Reserve’s DNA for more than a century. Many people are less aware that the payment systems operated by the Fed facilitate the electronic...
Revolut announced the launch of a new in-app chat feature on Wednesday (Nov. 2) that allows users to send messages to one another. Pointing to its own recent European survey data in a press release, Revolut said that two-thirds of people find it difficult to...
As much as COVID-19 gave digital tech and payments a boost, many industry experts think the next three years may hold similarly grand advancements, particularly when it comes to faster payments. For Peter Davey, senior vice president and head of product innovation at The Clearing...
The European Commission (EC) published a draft proposal on Wednesday (Oct. 26) intended to force banks and payment service providers (PSPs) to offer 24/7 instant euro payment services. The new rules will take the form of an amendment to the Single Euro Payment Area (SEPA)...
Veem has launched a real-time payment tool for small- to medium-sized businesses (SMBs) in more than 100 countries. The service is for businesses with domestic and cross-border payments, according to a Tuesday (Oct. 25) news release. “This will be the largest coverage of countries where...
As real-time payments networks operate across the globe — FedNow in the U.S. and Faster Payments in the U.K., to name just two examples — those systems still need to communicate with one another as payments cross borders. Data needs to flow, in real time,...
When it comes to online sports betting, the need for speed is everything — from the time it takes to deposit funds and place bets, to getting earned money back into users’ bank accounts on wins. To ensure bettors are getting returns as fast as...
