Faster Payments

Instant Payments Gain Ground With SEPA, SWIFT

The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. Implementation began last Friday, Nov. 30.

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Faster Payments; It’s Not About the Speed

In conversations and meetings about faster payments, someone is bound to say at some point that faster payments is not really about transaction speed. The real value may be found in the potential behind the data that accompanies a payment.

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Payment Players Launch U.S. Faster Payments Council to Speed Up Payments

A group of payment players announced Tuesday (Nov. 13) that they created a new organization, dubbed U.S. Faster Payments Council (FPC), aimed at working toward a ubiquitous payment system that enables Americans to safely and securely pay anyone, anywhere and at any time with near-immediate funds availability.

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What Hong Kong’s New Faster Payment System Means

Faster payments solutions must meet a variety of demands. Small retailers want to keep their cash flow moving by receiving consumer payments quickly, while large corporations need improved data and visibility to ensure their B2B transactions arrive on schedule.

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Amex Launches Early Pay for Faster Supplier Payments

American Express is introducing a new solution to accelerate B2B payments to suppliers. In an announcement Thursday (Oct. 11), American Express said it is launching Early Pay, a combination of supply chain finance and early payment discount capabilities. Designed for large U.S. companies procuring from U.S.

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Moving Toward a Faster Payments Future

The global march toward faster payments is already well under way. Today, 25 countries have faster payments systems in production and an additional 19 are progressing quickly toward them. When the Federal Reserve’s Faster Payments Task Force issued its recommendations in 2017, it outlined a vision for a U.S.

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Payments at the Speed of Now

Those responsible for implementing faster payments on the industry side seem to have taken the faster part literally. In little over one year, from late 2016 to late 2017, three new faster payments solutions went live: NACHA’s same-day ACH functionality, the Zelle P2P network and the Clearing House’s Real-Time Payments service, which was the first new U.S. payments architecture launched […]

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Federal Reserve Board Seeks Public Comment on Potential Actions to Facilitate Real-time Interbank Settlement of Faster Payments

The Federal Reserve Board on Wednesday invited public comment on actions the Federal Reserve could take to support faster payments in the United States.

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Hong Kong Faster Payment Platform Goes Live

Hong Kong has joined the faster payments club, launching a system that lets users send money nearly instantly to recipients using a mobile number or email address as an account proxy.

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Opening Up Inter-bank System FAST Will Spur Innovation, Create Better Services: Experts, Fintech Firms

Consumers can expect greater convenience and more innovative e-payment services when non-bank players get direct access to FAST, experts say.

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Fund Transfers Between Alipay and WeChat Pay Around the Corner as Hong Kong Launches Faster Payments Service

Hong Kong customers of Alipay and WeChat Pay, the two dominant cashless payment operators in China, the world’s largest internet market, will be able to transfer funds from each other for the first time, through the Hong Kong Monetary Authority’s Faster Payment System.

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The Challenge of Speeding Up Payments While Slowing Down Fraud

An awful lot of dark money moves round the world each year – between 2 and 5 percent of global GDP by UN estimates.

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