SWIFT said Tuesday (December 18) that its SWIFT gpi payment service is being used for more than half of SWIFT’s cross-border traffic. In a press release, SWIFT said that 55 percent of SWIFT’s cross-border traffic has been via SWIFT gpi, with hundreds of billions in payments...
Amazon, Apple and Google are among the large tech companies that are throwing their support behind the creation of a real-time payments network in the U.S. led by the Federal Reserve. According to a report in the American Banker citing a letter submitted by a trade...
It's a daunting challenge for a country to create its own real-time gross settlement (RTGS) system, much less seamlessly migrate to it. However, third-party infrastructure providers can ease that burden, says SIA’s Mario De Lorenzo. In the latest Faster Payments Tracker, De Lorenzo tells PYMNTS...
The uptake of faster payment systems keeps going up — and up, and up. In fact, the number of Same Day ACH transactions rose by 192 percent in Q3 2018 over the same period from the previous year. EBA CLEARING’s RT1 system, meanwhile, has processed...
There’s no denying it: Customers want quick — even instant — access to funds that are rightfully theirs, which means payments are moving in and out of businesses at an ever-quickening pace. But there’s no denying this, either: Even businesses that are eager to meet...
Real-time payments: It’s one of those changes that everyone seems to agree on, but could still use some push. That’s the idea behind the recently launched Faster Payments Council (FPC), a group of payment industry participants with the goal of providing a ubiquitous payment system with...
A group of payment players announced Tuesday (Nov. 13) that they created a new organization, dubbed U.S. Faster Payments Council (FPC), aimed at working toward a ubiquitous payment system that enables Americans to safely and securely pay anyone, anywhere and at any time with near-immediate...
While living paycheck to paycheck is often associated with low-salary or part-time workers, the data tells a different story. As it turns out, the white-knuckled wait for payday is something that affects consumers up and down the economic ladder, something a glance at the PYMNTS Financial Invisibles Report quickly...
Is the building and adopting of new, real-time payment rails worth the time and expense? In Hong Kong’s case, fixing the languishing state of P2P and C2B payments requires more than just upgrading an existing system. In the latest Faster Payments Tracker, executives from Standard...
