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

Payments Orchestration Lowers Expense of Digital Payments Acceptance
Payments Orchestration Lowers Expense of Digital Payments Acceptance
May 22, 2024  |  Digital Payments

There’s no shortage of evidence showing that digital payment methods are nearing a tipping point. As PYMNTS Intelligence and the Federal Reserve have reported, consumers and businesses...

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Government Mandates Will Force Business Payments Modernization
Government Mandates Will Force Business Payments Modernization
May 20, 2024  |  B2B Payments

Change is inevitable, and businesses that initiate change have the best opportunity to manage it. That’s why embracing payments modernization is so important for organizations, particularly with...

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Banco Santander and Iberpay Launch International Real-Time Payments Service
Banco Santander and Iberpay Launch International Real-Time Payments Service
May 17, 2024  |  Real-Time Payments

Banco Santander and Iberpay have processed the first international instant transfers based on the European Payments Council’s One-Leg Out Instant Credit Transfer (OCT Inst) scheme. These transfers were initiated and completed in different currency...

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Fed Surveys Find Lasting Appeal for Faster, Digital Transactions
Fed Surveys Find Lasting Appeal for Faster, Digital Transactions
May 15, 2024  |  Faster Payments

Consumers and businesses — running the gamut of transaction types and across demographics —  are pivoting toward faster and digital payment options.  Overall, as detailed in...

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93% of Truck Drivers Want Instant Payments
93% of Truck Drivers Want Instant Payments
May 15, 2024  |  Faster Payments

Truck drivers help keep the supply chain functioning, but the turnover rate is high in the industry — a reality that can have ripple effects...

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Instant B2B Payments Reshape Buyer-Supplier Dynamics
Instant B2B Payments Reshape Buyer-Supplier Dynamics
May 10, 2024  |  B2B Payments

The B2B payments landscape is uniquely large, and largely unique. Responsible for around $125 trillion in annual volume, the B2B payments marketplace is defined by...

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Better Instant Payments Availability Could Keep America Truckin’
Better Instant Payments Availability Could Keep America Truckin’
May 10, 2024  |  Money Mobility

As the primary transporters of goods in the U.S., truck drivers play a crucial role in the country’s supply chain. Even so, the turnover rate...

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Study Finds Small Business Healthcare Providers Receive 25% of Payments Late
Study Finds Small Business Healthcare Providers Receive 25% of Payments Late
May 09, 2024  |  SMBs

Increasingly, small- to mid-sized businesses (SMBs) operating in the healthcare field are using real-time payment technology to improve cash flow efficiency. Thirty-eight percent of the healthcare SMBs PYMNTS Intelligence...

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JPMorgan Offers Faster Domestic Payments Via Visa Direct 
JPMorgan Offers Faster Domestic Payments Via Visa Direct 
May 06, 2024  |  Faster Payments

J.P. Morgan and Visa have teamed to offer faster domestic payments via Visa Direct. The collaboration, announced Monday (May 6) is designed to improve merchant experiences and empower cardholders...

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