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

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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Mastercard Says Virtual Cards Bring Speed and Security to B2B Healthcare Transactions
Mastercard Says Virtual Cards Bring Speed and Security to B2B Healthcare Transactions
January 23, 2024  |  Healthcare Financing

Healthcare is a complex field, but that doesn’t mean healthcare payments can’t be simple. Of course, due to intricate billing processes with various codes, regulations,...

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Digital Wallets, Pay by Bank and Push to Card Can Transform Cross-Border Payments
Digital Wallets, Pay by Bank and Push to Card Can Transform Cross-Border Payments
January 19, 2024  |  Cross-border Payments

Cross-border money movement’s digital makeover rests with a variety of endpoints. More specifically, the more ways there are to send and receive, the more options...

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Money Mobility Underpins the Ongoing Evolution of Commerce ‘Mini-Ecosystems’
Money Mobility Underpins the Ongoing Evolution of Commerce ‘Mini-Ecosystems’
January 18, 2024  |  Payment Methods

Ingo Payments CEO Drew Edwards told Karen Webster in an interview that the incentive and technologies are there for forward-thinking companies and firms enabling money...

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Virgin Atlantic, CellPoint Digital Form Payment Orchestration Partnership
Virgin Atlantic, CellPoint Digital Form Payment Orchestration Partnership
January 17, 2024  |  News

Virgin Atlantic has formed a partnership with airline-focused payment orchestration company CellPoint Digital. The collaboration is designed to make transactions for travelers on the British air carrier seamless and...

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43% of Consumers Receiving Business Expense Reimbursements Opt for Instant Payments
43% of Consumers Receiving Business Expense Reimbursements Opt for Instant Payments
January 16, 2024  |  Disbursements

The waning of COVID-19 pandemic has triggered a surge in travel and expenses as professionals increasingly attend conferences and meet with clients. This shift has...

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Interoperability and Transparency Are Key Challenges as Cross-Border Payments Modernize
Interoperability and Transparency Are Key Challenges as Cross-Border Payments Modernize
January 15, 2024  |  Cross-border Payments

When three quarters of a given market are dissatisfied with the way things are going, that’s a market ripe for innovation and technology in the...

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