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

Faster Payments Become Catalyst for New B2B Business Models
Faster Payments Become Catalyst for New B2B Business Models
December 18, 2023  |  Faster Payments

Can instant payments transform transactions from waiting games to a real-time revolution? “There’s a certain expectation that instant payments means instant gratification,” Shaunt Sarkissian, founder and...

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Lack of Consumer Protections Seen as FedNow Headwind
Lack of Consumer Protections Seen as FedNow Headwind
December 18, 2023  |  Faster Payments

Andy McHale, senior director of product and market strategy at Spreedly, told PYMNTS that the future looks bright for faster payments here in the United...

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Rental Apps Help Tenants Build Credit as Instant Rent Refunds Gain Popularity
Rental Apps Help Tenants Build Credit as Instant Rent Refunds Gain Popularity
December 14, 2023  |  Real Estate

The convenience of digital payments has extended to the rental market, with tenants increasingly opting for instant rent refunds through digital channels.  According to a...

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Real-Time Payments Set to Replace Checks, ACH in the Manufacturing Industry
Real-Time Payments Set to Replace Checks, ACH in the Manufacturing Industry
December 14, 2023  |  Real-Time Payments

The manufacturing industry is on the verge of a major transformation in payment practices, PYMNTS Intelligence revealed. The report “Corporate Changes in Payment Practices: Manufacturing...

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Is B2B Ready for a Real-Time Payments Overhaul?
Is B2B Ready for a Real-Time Payments Overhaul?
December 13, 2023  |  B2B Payments

Real-time payments have the potential, and the promise, to overhaul all corners of commerce. The recent introduction of the FedNow® System is only the latest...

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Melio Adds Real-Time Payments to B2B Platform
Melio Adds Real-Time Payments to B2B Platform
December 13, 2023  |  Real-Time Payments

B2B payments platform Melio added real-time payments to its suite of offerings. The new service lets payors deliver funds instantly to vendors, according to a...

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Consumer Bill Payment Services and PayFacs Take the Sting Out of Card Acceptance Costs
Consumer Bill Payment Services and PayFacs Take the Sting Out of Card Acceptance Costs
December 13, 2023  |  Credit Cards

Marc Hopkins, vice president at E-Complish, told PYMNTS that although they’re almost universally used, and consumers expect merchants to accept them, credit and debit card...

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Expensify Teams With Booking.Com to Streamline Travel Expenses
Expensify Teams With Booking.Com to Streamline Travel Expenses
December 12, 2023  |  Travel Payments

Payments firm Expensify has launched a new integration with Booking.com for Business. The collaboration lets business travelers automatically upload travel receipts from Booking.com for Business directly into Expensify at booking,...

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Checkr Adds Payments and Onboarding Capabilities to HR Platform
Checkr Adds Payments and Onboarding Capabilities to HR Platform
December 12, 2023  |  Payroll

Checkr added payments and onboarding capabilities to its human resources (HR) platform. With the addition of the new Checkr Pay and Checkr Onboard to its...

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