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

Bloxcross, GoDirectPay Partner on Cross-Border Payments App
Bloxcross, GoDirectPay Partner on Cross-Border Payments App
March 28, 2024  |  Cross-border Payments

Bloxcross and GoDirectPay have partnered to launch a mobile app for global payments. The new app enables payments in any currency from institutions to vendors and from...

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TD Bank Provides Customers Faster Access to Wages With ‘Early Pay’
TD Bank Provides Customers Faster Access to Wages With ‘Early Pay’
March 26, 2024  |  Disbursements

TD Bank introduced a tool that lets customers get direct deposits two days early. TD Early Pay, announced in a Tuesday (March 26) press release, is...

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Growing Rise in Side Hustles Points to Boon in Digital Payouts
Growing Rise in Side Hustles Points to Boon in Digital Payouts
March 25, 2024  |  Faster Payments

The rise of the gig economy may have significant, positive knock-on effects for faster disbursements and earned wage access options. In this environment, supplemental income...

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QR Codes and Faster Payments May Hasten Rise of Super Apps
QR Codes and Faster Payments May Hasten Rise of Super Apps
March 25, 2024  |  Payment Methods

Decades after being introduced, QR codes may help super apps take shape and gain even more momentum across the globe. Quick response (QR) codes first...

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Is the UK Brexiting From Instant Payments?
Is the UK Brexiting From Instant Payments?
March 21, 2024  |  Faster Payments

It’s often said that history repeats itself. It’s hard to look at the current state of play regarding instant, or real-time, payments in the EU...

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Marketplaces Focus on Loyalty Programs for Media and Telecom Sectors
Marketplaces Focus on Loyalty Programs for Media and Telecom Sectors
March 20, 2024  |  Loyalty & Rewards

Media and telecom organizations are working with payment facilitators (PayFacs), independent software vendors (ISVs) or marketplaces to make embedded finance part of their business models....

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Instant Financial Debuts App for Faster Earned Wage Access
Instant Financial Debuts App for Faster Earned Wage Access
March 19, 2024  |  Faster Payments

Earned wage access firm Instant Financial released a new mobile app and updated mobile wallet. “Understanding that over 50% of Americans would likely avoid major financial pitfalls...

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Australia Payments Plus Picks Swift to Battle Payments Fraud
Australia Payments Plus Picks Swift to Battle Payments Fraud
March 19, 2024  |  Security & Fraud

Australian Payments Plus (AP+) has chosen Swift to assist in improving the country’s payment capabilities. Swift will build a service to reduce misdirect payments and boost...

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NPCI Grants Paytm Approval to Participate in UPI Payments System
NPCI Grants Paytm Approval to Participate in UPI Payments System
March 14, 2024  |  Faster Payments

Paytm will be able to participate in India’s instant mobile payments system, Unified Payments Interface (UPI). “Now, officially your Paytm UPI will work,” the company said...

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