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

Visa’s New A2A Offering ‘Opens’ Choice and Security Via Direct Bank Transfers in the UK
Visa’s New A2A Offering ‘Opens’ Choice and Security Via Direct Bank Transfers in the UK
September 05, 2024  |  Payments Innovation

Direct debits have been popular through the decades — across a variety of use cases — especially when it comes to bill payments and subscriptions....

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25% of Small Healthcare Provider Payments Arrive Late, Data Shows
25% of Small Healthcare Provider Payments Arrive Late, Data Shows
August 30, 2024  |  Healthcare

The healthcare sector, often burdened by slow and cumbersome payment processes, is undergoing a transformation aimed at alleviating financial strains. With a high volume of...

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75% of Companies Still Use Paper Checks Despite High Cost
75% of Companies Still Use Paper Checks Despite High Cost
August 29, 2024  |  Digital Payments

In today’s business environment, effective payment methods are essential. Outdated payment systems can create cash flow challenges, while digital payments offer streamlined processing, enhanced operational...

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Small Businesses Embrace Instant Payments: Benefits Beyond Speed
Small Businesses Embrace Instant Payments: Benefits Beyond Speed
August 29, 2024  |  Real-Time Payments

Small and medium-sized businesses (SMBs) across sectors are widely using instant payments. For many, they have become their primary method of sending payment. Across four...

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Visa Launches Advisory Service for Money Movement Industry
Visa Launches Advisory Service for Money Movement Industry
August 27, 2024  |  VISA

Visa has debuted a service to help customers navigate the $200 trillion money movement sector. The payments giant’s Money Movement Advisory Practice — announced Tuesday...

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Can Stablecoins Spark Crypto Adoption Across Retail and B2B Markets?
Can Stablecoins Spark Crypto Adoption Across Retail and B2B Markets?
August 26, 2024  |  Cryptocurrency

The cryptocurrency sector has long been in search of gateway use cases to accelerate adoption. News broke Friday (Aug. 23) that Wyoming is reportedly developing...

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Galileo: Banks Need to Predict Customer Experience to Combat Fraud
Galileo: Banks Need to Predict Customer Experience to Combat Fraud
August 26, 2024  |  Security & Fraud

Forget everything you knew about fraud and fraudsters. Financial institutions must grapple with the dual challenge of countering increasingly sophisticated fraud attacks as fraudsters harness...

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This Week in B2B Innovation: Riding the Digital Payments Wave
This Week in B2B Innovation: Riding the Digital Payments Wave
August 22, 2024  |  B2B Payments

The B2B landscape is undergoing a profound transformation, driven by a confluence of technological advancements, evolving business expectations, and the unrelenting push toward greater efficiency....

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BNY and CBA Launch Cross-Border Payments Partnership
BNY and CBA Launch Cross-Border Payments Partnership
August 22, 2024  |  Cross-border Payments

BNY and Commonwealth Bank of Australia (CBA) launched a cross-border payments partnership. The collaboration lets businesses and individuals who receive international payments from BNY customers get...

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