There are 54 faster payment schemes globally, with more on the way. Craig Ramsey, head of real-time payments at ACI Worldwide, tells PYMNTS that speed will become the "new normal" for FIs, which will need to embrace APIs and a whole new way of approaching daily...
The phrase “slow payment cycles” conjures up the image of old school buyer-supplier relationships and the 30- to 90-day payment window created by an inefficient paper-dominated cycle. However, it probably doesn’t bring to mind the developer economy, because it’s such a thoroughly modern ecosystem it...
Consumers, businesses and governments are seeing faster payments as a path to greater convenience and financial security, and this growing demand is spurring payments services providers (PSPs) to meet this need in a swift, secure manner. That consideration includes assessing the potential benefits and risks...
From sending money to college-aged children, to splitting lunch checks among friends, Gen X consumers are increasingly embracing mobile peer-to-peer (P2P). But enabling P2P payments can be a tall order for community banks, which may lack the resources to develop them, says Kristy Brandon, senior...
SWIFT and Microsoft have partnered with Bank of New York Mellon (BNY Mellon) to finalize the trial of Cloud Connect, a new payments solution, BNY Mellon announced in a press release on Tuesday (Sept. 24). Cloud Connect hosts SWIFT infrastructure and enables payment transfers via...
Financial providers worldwide are working to give small and medium-sized businesses (SMBs) quick access to their funds. Digital banks, for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with...
Cross River, a company that provides banking services for technology companies, will join The Clearing House’s (TCH) RTP network, according to a release. By joining the network, Cross River will be able to give its clients the ability to send, settle and clear payments instantly,...
Hurricane Dorian may be officially over, but for those in the Southeastern United States and the Bahamas, the rebuild is just getting started. According to the experts, the damage Dorian left in its wake was massive – and costly. Insurers estimate it will cost them as...
Quickly sending large sums of money abroad in 1803 might have meant loading gold bars onto ships and hoping for good weather and safe seas. In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messaging standards that enable...
