Real-Time Payments

Searching for ROI in Real-Time Payments

No area of banking is changing more dramatically than payments. As banks in developed countries which rely on legacy batch systems move toward real-time, they may require significant technology investments. Real-time will create some new business cases, but few can predict what they will be and how, or if, banks can charge for them.

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Retailers Ask the Fed for Real-Time Payments

Target and Walmart, among other companies, are asking the Fed to create a way for interbank transfers to be settled in real time, 24/7, in an effort to get paid in real time. The system may eventually shorten the lag time between when a shopper pays with a debit card to when the funds arrive […]

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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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ECB Launches Real-time Payments in Challenge to Tech Giants

The European Central Bank will on Friday unveil the first pan-eurozone instant payment service, hoping to become a dominant player in a field crowded by US and Asian tech giants. The so-called TIPS system will allow consumers and businesses across the 19-nation euro area to send and receive money in mere seconds, without the usual […]

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Businesses Want Real-Time Payments — What Will It Take to Get There?

Real-time payments: It’s one of those changes that everyone seems to agree on, but could still use some push. That’s the idea behind the recently launched Faster Payments Council (FPC), a group of payment industry participants with the goal of providing a ubiquitous payment system with near-immediate funds availability anywhere.

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The Gig Economy Is Demanding Real-Time Payments

The number and percentage of gig economy jobs is increasing, according to JPMorgan Chase, which examined transactions between Chase accounts and 128 gig economy platforms. But the growth hasn’t been even and depends on the relationship between the sharing app and its contractors, which will change as the apps diversify.

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Citizens Bank Will Launch Real-Time Payments for Commercial Accounts in 2019

Citizens Bank plans to phase in real-time payments for its commercial banking business starting in 2019. The bank, which is an owner bank of The Clearing House (TCH) has been a backer of real-time payments for three to four years, said Matt Richardson, head of product solutions in treasury management at the bank. Bank executives […]

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What Is Going on With Instant Payments in Australia?

As 2018 winds along, more and more Australians are sending money instantly to each other. CEO of the New Payments Platform (NPP) Adrian Lovney says that there are more than 50 million accounts capable of sending and receiving faster payments through the NPP and that number is expected to grow.

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How Instant Payments Are Transforming Banking and Retail

Instant payment systems are transforming banking and retail, especially with the rapid rise of e-commerce. And these new technologies can offer a huge competitive advantage to organizations.

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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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Real-Time Payments Climbs the Corporate Ladder

The first thing to remember is that ‘real-time’ payments is a subset of the overall faster payments category discussion of the past several years. Real-time means 24x7x365 availability, with clearing and settlement within seconds.

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Data: Real-time Payments Go Corporate

New architecture for real-time payments went live in recent months in key global markets, expanding B2B payment options for financial institutions and their corporate customers. In the U.S., The Clearing House launched its own instant payments brand last fall at the same moment when instant cross-border payments became available in Europe.

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