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

AtoB CEO: Push-to-Card Payouts Become Banking Platform for Independent Truckers
AtoB CEO: Push-to-Card Payouts Become Banking Platform for Independent Truckers
February 05, 2024  |  Faster Payments

AtoB CEO Vignan Velivela told Karen Webster that slow payments represent a “silent tax” on fleet management in general, and on the truckers behind the...

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70% of Consumers Opt for Instant Merchant Refunds If Given the Choice
70% of Consumers Opt for Instant Merchant Refunds If Given the Choice
February 05, 2024  |  Disbursements

For most American consumers, disbursements — which include earnings and income payments, Social Security payments, tax refunds, insurance claim payouts and loan disbursements — remain...

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Two-Thirds of College Students Want to Use Their App to Pay Tuition
Two-Thirds of College Students Want to Use Their App to Pay Tuition
February 02, 2024  |  Digital Payments

Pursuing an education is fundamental to skill development, intellectual advancement and personal growth, laying the groundwork for future success. However, soaring tuition costs have made...

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The 4 Easy Wins GenAI Brings to the Payments Sector
The 4 Easy Wins GenAI Brings to the Payments Sector
January 30, 2024  |  Artificial Intelligence

The ability to scale is what qualifies an innovation as such. While generative artificial intelligence has, by many observers’ accounts, already reached innovation status at...

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Only 30% of Non-Recurring Payments Are Made in Real Time
Only 30% of Non-Recurring Payments Are Made in Real Time
January 29, 2024  |  Faster Payments

Ad hoc payments, which are irregular payments made outside of normal invoicing and payroll processes, can be a hassle for enterprises. However, a survey revealed...

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Planet DDS Adds Payment Solution to Platform for Orthodontic Practices
Planet DDS Adds Payment Solution to Platform for Orthodontic Practices
January 25, 2024  |  Digital Payments

Planet DDS has added an integrated payment solution to its cloud-based platform for orthodontic practices. The new Cloud 9 Pay provides patients with payment options while...

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The Clearing House Says Mastercard Partnership Fosters Pay by Bank and Other Innovations
The Clearing House Says Mastercard Partnership Fosters Pay by Bank and Other Innovations
January 25, 2024  |  Real-Time Payments

Innovation begets further innovation.  And the emergence and adoption of real-time payment rails represent a significant advancement in the U.S. payment infrastructure, transforming the way...

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CFPB Proposes Banning NSF Fees on Declined Real-Time Payments
CFPB Proposes Banning NSF Fees on Declined Real-Time Payments
January 24, 2024  |  CFPB

The Consumer Financial Protection Bureau proposed a new rule to prevent banks and other financial institutions from charging non-sufficient funds fees on transactions declined in...

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Mastercard and The Clearing House Extend Real-Time Payments Partnership
Mastercard and The Clearing House Extend Real-Time Payments Partnership
January 24, 2024  |  Partnerships

Mastercard is extending its multiyear partnership with real-time payments organization The Clearing House. The two companies collaborated in 2017 to launch the RTP Network, the...

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