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

How AWS and PayShap Increased Financial Inclusion in South Africa
How AWS and PayShap Increased Financial Inclusion in South Africa
December 04, 2023  |  Financial Inclusion

Nilesh Dusane, global head of institutional payments at AWS, and Ben Janse van Rensburg, interim CIO at BankservAfrica, told PYMNTS that instant payments will do...

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Cash Not King in India as More Than 50% of Shoppers Use Digital Wallets to Shop
Cash Not King in India as More Than 50% of Shoppers Use Digital Wallets to...
December 04, 2023  |  Mobile Wallets

India, traditionally reliant on cash, embarked on a digital payments journey 15 years ago. The process was marked by key milestones like the introduction of...

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Five Months in, FedNow Is ‘Doing What It Was Planned to Do’
Five Months in, FedNow Is ‘Doing What It Was Planned to Do’
December 01, 2023  |  Faster Payments

Five months since the FedNow® Service launched, Miriam Sheril, head of product, U.S. at Form3, told PYMNTS, there are some encouraging signs. Although it is...

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Most Borrowers Drawn to Speed and Convenience of Instant Disbursements 
Most Borrowers Drawn to Speed and Convenience of Instant Disbursements 
November 30, 2023  |  Disbursements

Disbursements are a critical part of consumers’ financial lives, encompassing various payments such as earnings, income, tax refunds, insurance claims and loan disbursements. While these...

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ACI and Mexipay Launch Real-Time Payment Partnership
ACI and Mexipay Launch Real-Time Payment Partnership
November 28, 2023  |  Real-Time Payments

ACI Worldwide has teamed with Mexipay to promote real-time payment use in Mexico. The partnership, announced Tuesday (Nov. 28), will see Mexipay use ACI’s payment platform to deploy...

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Study Finds More Instant Payment Options Increase Customer Satisfaction
Study Finds More Instant Payment Options Increase Customer Satisfaction
November 28, 2023  |  Faster Payments

Using instant payment methods can streamline the payment process and improve overall customer satisfaction, making consumers 11% more satisfied and nearly double their likelihood to...

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Volt Expands Real-Time Payments Platform Into Australia
Volt Expands Real-Time Payments Platform Into Australia
November 22, 2023  |  Real-Time Payments

Global real-time payments platform Volt has expanded into Australia. Already established in the United Kingdom, Europe and Brazil, Volt is taking another step in its...

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UK Government Says Country Needs Open Banking Alternatives to Visa and Mastercard
UK Government Says Country Needs Open Banking Alternatives to Visa and Mastercard
November 22, 2023  |  Faster Payments

The U.K. risks falling behind other nations unless it can create an alternative to its Faster Payment Service. That’s according to a new government-commissioned review...

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OVG Hospitality President: Consumers Demand Familiar Payment Tech at Live Events
OVG Hospitality President: Consumers Demand Familiar Payment Tech at Live Events
November 22, 2023  |  Payment Methods

As consumers increasingly rely on digital and self-checkout in their day-to-day lives, OVG Hospitality is seeing live event attendees demand more frictionless foodservice ordering and...

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