Consumers around the world are setting their New Year’s resolutions as the calendar pages turn to 2018, and banks and financial institutions (FIs) in the United States and around the world are no different. The January edition of the PYMNTS Faster Payments Tracker™, examines the most recent...
In an age where faster is a hallmark of, well, everything, it follows that the same should be true of payments. It has been 14 months since the first phase of Same Day ACH credits debuted, and in numbers via a joint study by PYMNTS...
The Fed wants payments to move faster — and quickly. In the latest issue of the Faster Payments Tracker™, a PYMNTS and NACHA collaboration, Connie Theien, senior vice president of payments industry relations at the Federal Reserve and Janet Estep, CEO of NACHA, discussed the...
The United States hasn’t had a new payment system for 40 years – until now. And, now that the U.S. has had a taste of faster payments, the country’s Federal Reserve wants to push the industry even further into the future. The December edition of...
A European Central Bank (ECB) director urged banks on Thursday (Nov. 30) to speed up the launch of instant payments to push back against cryptocurrencies like bitcoin. According to news from Reuters, a member of the ECB’s executive board, Yves Mersch, said commercial banks need to...
The year 2020 looms large in the payments realm, marked off by the Federal Reserve as the year faster payments are to be truly commonplace, available to U.S. consumers and to businesses, standard practice across transactions of all sizes. The goal is an ambitious one,...
The U.S.’ first new payment and clearing system in more than 40 years is up and running. At 4:59:40 p.m. on Monday (Nov. 13), $3.50 was moved between accounts at two different banks (there was only one customer with two bank accounts) via RTP, the name for...
Fourteen months since the Phase 1 roll out, 43 percent of financial institutions (FIs) now allow businesses to originate same-day ACH credit. However, 25 percent of FIs still do not offer SDA origination to business customers, given the lack of support from core processors and...
Recent cyberattacks and breaches raise an important question for U.S. companies and FIs: How to prepare for the inevitable next one? In this month’s PYMNTS Faster Payments Tracker™, powered by NACHA, Bill Nelson, CEO of the Financial Services Information Sharing and Analysis Center (FS-ISAC), discusses...
