PYMNTS-MonitorEdge-May-2024

faster payments

Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from the three working days that transfers take using the long-established BACS system, to typically a few seconds.

Source: en.wikipedia.org

QIB Adds Request to Pay to Instant Payments Service
QIB Adds Request to Pay to Instant Payments Service
July 22, 2024  |  Faster Payments

Qatar Islamic Bank (QIB) has added a “request payment” feature to its instant payment service. The new feature, announced Monday (July 22), lets customers request a payment from...

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Brazil’s Central Bank Delays Launch of Pix Recurring Payments Feature
Brazil’s Central Bank Delays Launch of Pix Recurring Payments Feature
July 22, 2024  |  Real-Time Payments

Brazil’s central bank has delayed the launch of a recurring payments feature that will be added to its Pix instant payment system. The feature, Automatic...

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Embedded Finance’s Next Stop Is B2B Commerce
Embedded Finance’s Next Stop Is B2B Commerce
July 17, 2024  |  eCommerce

Wind the clock back just a few years, and online transactions were a disjointed experience. After filling a cart at a merchant’s site, upon checking...

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Galileo Begins Offering Wire Transfers to FinTechs
Galileo Begins Offering Wire Transfers to FinTechs
July 09, 2024  |  Payment Methods

Galileo Financial Technologies has begun offering wire transfer capabilities to FinTechs. The So-Fi-owned company announced the new offering Tuesday (July 9), saying it provides FinTechs with another option...

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New Data: Instant Loan Payouts Rise Thanks to Growing Lender Adoption
New Data: Instant Loan Payouts Rise Thanks to Growing Lender Adoption
July 09, 2024  |  News

Borrowing connects consumers with funds they need to pay for major expenses or to manage debt. As a result, the timely receipt of these funds...

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Japan Ditched Floppy Disks, but Can Businesses Ditch Paper Checks?
Japan Ditched Floppy Disks, but Can Businesses Ditch Paper Checks?
July 08, 2024  |  B2B Payments

Technological innovation moves fast, but sometimes businesses can move slowly. Or even not at all. Take for example the news from Reuters that the Japanese...

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Zimpler Teams With Swish on Frictionless Payments
Zimpler Teams With Swish on Frictionless Payments
July 03, 2024  |  Partnerships

Instant payments solution provider Zimpler launched a collaboration with Swedish payments app Swish. The partnership will give Zimpler’s merchants an optimized payment solution that combines...

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ACI Worldwide and RS2 Launch Acquiring and Issuing Solution in Brazil
ACI Worldwide and RS2 Launch Acquiring and Issuing Solution in Brazil
June 25, 2024  |  Partnerships

Real-time payments firm ACI Worldwide launched a collaboration with Brazil-based payments processor RS2. The partnership is designed to offer a one-stop solution for acquirers and...

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Instant Refunds? Consumers Say They’ll Pay for That
Instant Refunds? Consumers Say They’ll Pay for That
June 21, 2024  |  Money Mobility

Overpayment disbursements are not the most common payouts nor the largest. In fact, just 7.1% of consumers report they received overpayment disbursements this year. The...

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