Last year, only 25 real-time payment systems were operational worldwide — that number is growing rapidly. By September of this year, 40 such rails were live, with 16 more expected to launch by early 2020. Demand is also heating up for real-time gross settlement...
Instant onboarding — the ability for a merchant to complete a one-page digital application, then instantly process payments — has, more or less, been heralded as the best thing to happen in payments and to merchants in decades. WePay Co-founder Rich Aberman begs to differ. Sure, instant onboarding creates a slick experience for a business interested...
Speed matters in payments, and as B2B moves away from checks, some recent infrastructure initiatives and announcements show traction in Europe and Asia. However, as some reports of fraud show, sensitive information may be vulnerable.
Paper checks are still the norm when it comes to B2B payments — and companies aren’t happy about it. After all, paper checks are neither easy to use, nor convenient. Twenty percent of companies surveyed by PYMNTS said they dislike using checks for B2B payments...
Most people know that China is the world-leading supplier of students studying abroad. As of 2017, a little more than 600,000 Chinese students left the country to pursue their education overseas. Currently, there are about 1.5 million Chinese students enrolled in overseas higher-education institutions and, over the...
Venmo, the digital payment unit of PayPal, has raised the fee for instant transfers when moving money from their account to a traditional bank account, according to reports. Reports citing an email Venmo sent to users late last week said the fee is going up to...
The Fed is seeking public comment from stakeholders on moving to faster payments, always on and always available. Fed Gov. Lael Brainard said in a speech Wednesday that there's a path for real-time gross settlements between banks, giving consumers and businesses the speed and transparency...
Paper checks are a serious payments misplay. Consider Minor League Baseball’s Jacksonville Jumbo Shrimp: Hundreds of employees would crowd into the club’s ticket office right before game time to grab their payroll checks. Total whiff. So, the team changed its game plan. In this month’s...
As faster payment schemes emerge and expand, financial institutions (FIs) and businesses uncertain about real-time payments need to know what the developments mean for them — and how they should respond. That means deciding whether it’s worth engaging with the schemes and, if so, deciding...