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

EBANX Teams With Brazil’s FastSpring to Expand Pix Usage
EBANX Teams With Brazil’s FastSpring to Expand Pix Usage
April 25, 2024  |  Partnerships

FastSpring and EBANX have teamed to expand the usage of the Pix payment in Brazil. FastSpring, based in Brazil, powers payments for global Software-as-a-Service and software companies. EBANX...

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Razorpay and Airtel Payments Bank Partner on UPI Infrastructure
Razorpay and Airtel Payments Bank Partner on UPI Infrastructure
April 24, 2024  |  Partnerships

Razorpay has launched its own Unified Payments Interface (UPI) infrastructure in partnership with Airtel Payments Bank. The new infrastructure, UPI Switch, boost success rates by 4% to 5%; handles...

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Lower Costs, Easier Integration Could Boost Instant Ad Hoc Payments
Lower Costs, Easier Integration Could Boost Instant Ad Hoc Payments
April 22, 2024  |  Faster Payments

The use of ad hoc payments by large enterprises to pay small to mid-sized businesses (SMBs) and individuals is on the rise — and exclusive...

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Cognizant and FICO to Launch Real-Time Payments Fraud Prevention Solution
Cognizant and FICO to Launch Real-Time Payments Fraud Prevention Solution
April 17, 2024  |  Security & Fraud

Cognizant and FICO plan to launch a cloud-based real-time payments fraud prevention solution designed for North American banks and other payment service providers. The joint offering would...

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MUFG Bank and Crédit Agricole Complete First ISO 20022-Aligned Payment on CHIPS
MUFG Bank and Crédit Agricole Complete First ISO 20022-Aligned Payment on CHIPS
April 17, 2024  |  Payment Methods

The first payment in the ISO 20022 message format on the CHIPS network was completed by Japanese financial institution MUFG Bank and European financial institution Crédit Agricole Corporate & Investment Bank, The...

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NCR Voyix Warns on Instant Payments Adoption Delays
NCR Voyix Warns on Instant Payments Adoption Delays
April 17, 2024  |  Real-Time Payments

Real-time payments have enjoyed optional status up to this point. But they are quickly becoming an essential competitive factor for financial institutions (FIs), especially in...

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Instant Payments Fuel Tipping’s Digital Evolution
Instant Payments Fuel Tipping’s Digital Evolution
April 16, 2024  |  Payment Methods

From restaurants to rideshare platforms and hospitality, the rise of digital tipping is reshaping how consumers express gratitude for service. This shift toward digital gratuity...

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Bank of America: 1Q Zelle Volumes Surge 26% to $106 Billion
Bank of America: 1Q Zelle Volumes Surge 26% to $106 Billion
April 16, 2024  |  Earnings

Bank of America’s first quarter results took note of continued use of digital channels in banking — and for payments, too. The bank recorded 3.4...

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46% of Instant Payment Skeptics Want Bank Info Hidden
46% of Instant Payment Skeptics Want Bank Info Hidden
April 16, 2024  |  Faster Payments

Whether it’s employee earnings, Social Security payments, tax refunds, insurance claim payouts, investment distributions or something else, most U.S. consumers now receive some type of...

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