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

Free Instant Payments a Key Perk for Business Retention
Free Instant Payments a Key Perk for Business Retention
December 28, 2023  |  Faster Payments

In a fast-paced business environment, the demand for flexibility in financial transactions is paramount, and non-recurring ad hoc payments account for nearly two-thirds of the...

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84% of Consumers Like Pay-by-Bank Despite Adoption Hurdles
84% of Consumers Like Pay-by-Bank Despite Adoption Hurdles
December 28, 2023  |  Payment Methods

Account-to-account (A2A) transfers, also known as pay-by-bank, have emerged as a convenient alternative to traditional transaction methods like credit and debit cards. By transferring money...

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Online Gift Card Platform Tbay Debuts ‘Quick Sell Mode’
Online Gift Card Platform Tbay Debuts ‘Quick Sell Mode’
December 27, 2023  |  Gift Cards

Online gift card platform Tbay introduced “Quick Sell Mode,” designed to make card transactions faster. The program aims to reduce gift card transaction time by...

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Security Concerns Limit Growth of Instant Payments for Rent-Related Refunds
Security Concerns Limit Growth of Instant Payments for Rent-Related Refunds
December 26, 2023  |  Real-Time Payments

Rental prices keep on rising year after year, and some rental contracts have been tightened by requiring larger deposits at the signing. To illustrate: since...

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Instant Payments Have a Supply Problem, Not a Demand Problem
Instant Payments Have a Supply Problem, Not a Demand Problem
December 22, 2023  |  Real-Time Payments

Immediacy will always prove to be a winning concept — particularly within payments. Convenience, simplicity and security are three core pillars of today’s increasingly connected...

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NexPay Teams With Flagright for Faster Student Payment Processing
NexPay Teams With Flagright for Faster Student Payment Processing
December 21, 2023  |  Partnerships

Student payment FinTech NexPay partnered with Flagright to improve its real-time payment processing capabilities. Australia-based NexPay lets study abroad students pay in local currencies, with...

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Interoperability Will Be Instant Payments Catalyst
Interoperability Will Be Instant Payments Catalyst
December 21, 2023  |  Faster Payments

In today’s world, convenience and efficiency are more highly valued than ever. Therefore, it would seem that instant payments, or the ability to transfer money...

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Trust, Choice and Scalability Can Unlock Instant Payments Growth
Trust, Choice and Scalability Can Unlock Instant Payments Growth
December 21, 2023  |  Faster Payments

We have come a long way since the U.S. Mint issued the first dollar coins. And while the evolution of money didn’t happen in an...

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Why 2024 Will Be ‘Tipping Point’ for Instant Payments
Why 2024 Will Be ‘Tipping Point’ for Instant Payments
December 21, 2023  |  Real-Time Payments

Consumers want instant payments, and businesses are finally gearing up to deliver them. As Ingo Money CEO Drew Edwards told Karen Webster, 2024 can be...

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