Payments innovations impacted small- to medium-sized businesses (SMBs) in 2024. For years, SMBs lagged behind larger enterprises in adopting digital payment solutions, hindered by limited budgets, resources and expertise. To this day, many SMBs are operating in a hybrid payment environment, balancing legacy systems with...
Instant payments are rapidly becoming a preferred method for disbursements, revolutionizing how consumers, SMBs and enterprise senders manage their finances. And there is a consistent theme: As adoption grows, satisfaction and financial performance improve. For consumers, instant payments offer speed and convenience. These faster payments...
The insurance industry has faced challenges in implementing real-time payouts due to high costs and transparency issues, despite the potential benefits for insurers and customers, such as reduced delays and improved satisfaction. According to a PYMNTS Intelligence report, “Real Time Matters: The Imperative for Instant...
What do gig workers and gamers have in common? Both are driving a seismic shift in how businesses manage payments — and instant is the name of the game. For ad hoc transactions — payments made outside of traditional payroll or invoicing — the appeal...
December 18, 2024
Instant payments are rapidly becoming a preferred method for disbursements, revolutionizing how consumers, SMBs and enterprise senders manage their finances. And there is a consistent theme: As adoption grows, satisfaction and financial performance improve. For consumers, instant payments offer speed and convenience. These faster payments allow them to receive funds quickly, particularly when they’re in […]
December 17, 2024
The insurance industry has faced challenges in implementing real-time payouts due to high costs and transparency issues, despite the potential benefits for insurers and customers, such as reduced delays and...
December 13, 2024
The benefits of standardized data formats and exchanges in financial services are myriad. Banks are moving toward the ISO 20022 financial messaging standard, tied to Swift, which noted that the...
December 13, 2024
When The Clearing House launched its RTP® network in 2017 — the first new payments infrastructure in about 40 years — the transaction limit was $25,000. That was before the...
December 12, 2024
Payment technology company FlexPoint has launched an artificial intelligence (AI)-powered system that processes automated clearing house payments the same day instead of the typical five-day wait, using AI to assess transaction risks. The system connects to the Federal Reserve’s FedNow® Service infrastructure to process ACH payments, FlexPoint said in a Thursday (Dec. 12) press release. […]
December 12, 2024
Visa will begin enabling faster delivery of money with Visa Direct, making funds transferred to U.S. bank accounts available within one minute. This capability will begin in April 2025, allowing...
December 06, 2024
With one year to go before the deadline to move to ISO 20022 for cross-border payments and reporting plus (CBPR+), more than 1 million ISO 20022-formatted messages are already being sent...
December 04, 2024
QuickBooks maker Intuit has launched a collaboration with Dutch payments firm Adyen. The partnership is designed to help small and medium-sized businesses (SMB) in the U.K. more easily manage electronic payments, Adyen...
