Payments News » Faster payments

The World Added 15 Real-Time Payments Systems in the Last Year, and 21 More Are Coming

September 27 2018

in
Faster payments

“The world currently has 40 real-time payments systems versus only 25 just a year ago, payment processor Fidelity National Information Services Inc. (FIS) reported Wednesday. What’s more, five such programs are under development, and another 16 should be live in 12 months to 18 months, Jacksonville, Fla.-based FIS says in its new “Flavors of Fast Report […]

Global

FIS Flavors of Fast Report

September 27 2018

in
Faster payments

“See facts and FPII Rankings for the US, the UK, Germany, Australia, Hong King, Singapore, & India.”

Systems

NPSO releases first details on New Payments Architecture

September 25 2018

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Faster payments

“The New Payment System Operator (NPSO) has released Initial details of the new procurement process for the clearing and settlement layer part of the New Payments Architecture (NPA). The NPA is a new conceptual model for payments in the UK, aiming to cover the processing of £6.7 trillion of Bacs, Faster Payments and potentially cheque payments […]

Systems

Fed seeks feedback on plans for RTGS system for faster payments

October 4 2018

in
Faster payments

“The Federal Reserve Board is calling for public comment on its plans to build a real time gross settlement (RTGS) system that finally brings faster payments to America.”

Companies

TCH Looks to Connect Thousands of Banks for Real-Time Payments Within the Next Few Months

October 5 2018

“The Clearing House Payment Co. Ltd., the New York City-based company that, among other services, operates one of only two switches for the nationwide automated clearing house network, finished the third quarter with 36 institutions linked to its Real Time Payment (RTP) network, which went live a year ago. That number will grow fast, exceeding 1,000 next […]

Systems

As the Fed Mulls an Entry Into Real-Time Payments, a TCH Executive Flashes a Caution Flag

October 24 2018

in
Faster payments

“If the Federal Reserve decides to compete in the developing market for real-time payments, it will face considerable obstacles, one of which has to do with whether such competition is really needed, according to an official with The Clearing House Payments Co. LLC. The Clearing House, which is recruiting financial institutions for its own real-time processing system, […]

Systems

The Fed Unveils an Industry Group Charged With Developing Faster Payments

November 14 2018

in
Faster payments

“Following through on plans disclosed earlier this year, the Federal Reserve on Tuesday formally unveiled the U.S. Faster Payments Council, an industry group charged with collaborating to spur the adoption of faster payments and identify market opportunities. The 22 inaugural members range from retailing giant Walmart Inc. to Visa Inc. and Mastercard Inc. to some big banks, tech […]

Systems

SWIFT’s instant cross-border gpi payments test touted as a success

October 22 2018

in
Faster payments

“”What the trial sought to establish was whether, by integrating and enabling the service via gpi members into a domestic instant payment system, the gpi experience could be extended deeper into domestic markets, to end beneficiaries’ accounts, even outside normal business hours,” SWIFT explained.”

Domains

A Real-Time Bill-Payment Service From Mastercard Could Lure Biller-Direct Fans

October 11 2018

in
Faster payments

“The new service, indeed, is seen as just the start of a range of faster-payments services Mastercard feels it can rely on Vocalink to build. “With Vocalink, we are in a unique position as the only network that has the technology capabilities and know-how to build faster payments applications at the pace the market requires,” […]

Global

The Launch of Faster Payment System (FPS)

September 26 2018

“The Hong Kong Monetary Authority (HKMA) announced the launch of the Faster Payment System (FPS) today. The FPS is one of the seven initiatives announced by the HKMA in September 2017 for preparing Hong Kong to move into a new era of Smart Banking. The FPS operates on a round-the-clock basis and connects banks and stored-value […]