Payments NewsFaster payments Archives - Payments News

Brazil launches ‘Pix’ instant payments system, Whatsapp to enter ‘soon’

November 16 2020

“Brazil’s central bank on Monday launched an instant payments platform that will speed up and simplify transactions, as well as foster financial sector competition and lure in new players such as big techs Facebook Inc and Google. Dubbed “Pix,” the state-owned instant payments system allows consumers and companies to make money transfers 24 hours a […]

Systems

With Real-Time Networks on the Way, Processors Prepare to Give Businesses a Piece of the Action

November 3 2020

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Faster payments

“As consumers adopt real-time payments in the coming years, payments providers are expecting businesses large and small to follow suit. News released Monday indicates preparations are already under way. Canadian processor Everlink Payments Services Inc. and Fintainium Inc., a Jacksonville, Fla.-based developer of cloud-based technologies for financial institutions, have agreed to develop real-time capability for […]

Global

Cheque Usage to Decline in Favour of Near Real Time Payment

October 6 2020

“The use of cheques to make payment could witness further decline in volume, following the addition of the Automated Clearing House Direct Credit, Near Real Time payment channel.This is because the Near Real Time (NRT) payment channel offers a better and quicker alternative to cheques.”

Systems

While Momentum Builds for Real-Time Payments, Research Tags the U.S. Market As a Laggard

September 28 2020

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Faster payments

“Real-time payments are gaining momentum in the United States, but research released Monday indicates the U.S. market remains a laggard. The total value of so-called instant payments will reach $18 trillion in 2025, but the U.S. share of that market will total just 8%, or $1.4 trillion, according to a forecast by Juniper Research. The […]

Systems

Zelle Network® Exceeds One Billion Payments in 12 Months, Setting a New Record for the Payments Network

November 2 2020

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Faster payments

“Early Warning Services, LLC, the network operator behind Zelle®, today announced that during the past 12 months (September 2019 – September 2020), the Zelle Network processed more than one billion payment transactions. In Q3 2020, the Zelle Network processed 323 million transactions, totaling $84 billion in money sent — an increase of 17% and 18% quarter-over-quarter, respectively.”

Systems

The Whole World Will Be Instant in a While, and So Will Payments

October 8 2020

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Faster payments

“Sibos has been a breeding ground for new ideas and visions in the world of payments for years. If you look at last year, you saw a positive vibe around Instant Payments, but there were also some concerns about whether banks were adapting quickly enough to the new digital era.Now Sibos 2020 started, member of […]

Systems

200 Banks and Credit Unions Go Live with Zelle via Fiserv in 2020

October 7 2020

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Faster payments

“As a growing number of consumers have embraced digital payments during the COVID-19 pandemic, financial institutions have added or enhanced person-to-person (P2P) payment capabilities, with more than 200 banks and credit unions going live on the Zelle Network® via Fiserv to date in 2020.”

Systems

U.S. Faster Payments Evolution: Share Your Thoughts on the Journey

October 6 2020

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Faster payments

“For most of us, the pandemic has upended our way of life. It has changed our working styles and environments. It has altered shopping habits. It has driven a surge in touchless and remote transactions. And while all of these are colossal shifts for the American people, the one even larger change stemming from the […]

Reports

Volume of Real-time Payments Surges During Pandemic, FIS Reports in New Study

October 5 2020

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Faster payments

“New research released today by FIS ® (NYSE: FIS) shows that adoption and usage of real-time payments has accelerated amidst the COVID-19 pandemic and the real-time rails are now offering capabilities that extend beyond instant payments.”

Systems

MetaBank Announces Partnerships with Finix and TabaPay to Offer Faster Payments

September 22 2020

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Faster payments

“MetaBank,® N.A. (“Meta”) today announced the expansion of its faster payments platform to include processors Finix and TabaPay . Meta is committed to leading the enablement of payments technology, and this announcement marks its latest expansion within the faster payments space. With this addition of Finix and TabaPay, Meta is giving its partners numerous options to […]