Instant payments continue their global sweep, with expanding RTP® network capabilities from The Clearing House in the United States, Australia simplifying cross-border transfers and Hungary embracing QR codes for everyday transactions. The PYMNTS Intelligence report “The Real-Time Payments World Map” examined the technologies and partnerships...
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...
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...
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 open standard can be used for all types of financial transactions, including cross-border fund flows....
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 improved satisfaction. According to a PYMNTS Intelligence report, “Real Time Matters: The Imperative for Instant Disbursements for Insurance,” a collaboration with Ingo Payments, smaller insurers […]
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 09, 2024
The trucking industry is crucial to the national economy, transporting more than 72% of freight by weight. Outdated payment methods, however, hinder efficiency, prompting the search for faster, digital solutions....
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 consumers, businesses and governments to use Visa Direct to deposit money to bank accounts linked to eligible debit cards in real time, the company said […]
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
The Clearing House plans to raise its instant payment network’s individual transaction limit. Starting next year, the RTP® Network will allow individual transactions of up to $10 million, The Clearing...
December 02, 2024
The Clearing House says its clearing/settlement system handled a record number of Black Friday transactions. The organization’s CHIPS network settled and cleared 1,083,550 payments valued at $2.63 trillion to kick...
