Payments News

On The Web

nbsp;

Systems

SBI Announces Demo Trial of In-store Payments With Ripple-powered ‘Money Tap’ App – TokenPost

“SBI Ripple Asia , a joint venture between blockchain startup Ripple and Japanese financial services giant SBI Holdings, last week announced the launch of a demonstration test of its Money Tap app that would allow in-store payments. Launched last October, Money Tap offers real-time settlement for domestic payments in Japan. It uses xCurrent – Ripple’s […]
nbsp;

Systems

New Payments Platform Ropes in QR Codes

“The days of fumbling for loose change at the school fete or footy match sausage sizzle could soon be numbered, after the New Payments Platform (NPP) revealed it’s working quickly with banks, merchants payment services providers to hook-up scan-to-pay QR codes to its real time network.”
nbsp;

Systems

NatWest Leverages Open Banking to Cut Transaction Fees by 25%

“The UK’s NatWest bank has launched a new service that will let consumers pay online merchants directly from their bank accounts, “saving merchants at least 25% of card processing costs”. “The service removes the need to input long card numbers; customers can simply select the payment type and their bank during the checkout process, at […]
nbsp; nbsp;

Systems

Fed Wants Workers to Get Pay Faster

“Community groups, smaller banks and advocates for low-wage earners have been calling for the Fed to limit the delay and to create a public sector option for real-time payments. But some in the banking industry, particularly large banks, have pushed back against the effort over concerns that the Fed’s involvement will compete with their products […]
nbsp;

Systems

Fed’s Real-Time Payments System to Compete With Wall Street

“The Federal Reserve , rebuffing an intensive Wall Street lobbying campaign, plans to create a real-time payment system that will compete with a venture formed by big banks.    The FedNow Service, set to begin operating by 2023 or 2024, will modernize the payments infrastructure by allowing money to be moved almost instantly at every […]
nbsp;

Systems

Speech by Governor Brainard on Delivering Fast Payments for All

“Through the FedNow Service, we will provide a foundation for the future—a modern payment infrastructure that allows innovation and competition to flourish and delivers faster payments safely and securely for all. To ensure fast payments are available to everyone, FedNow will be accessible to all banks, no matter the size. Given our long-standing service connections […]

On The Wires

nbsp;

Domains

Canadian Fintech Launches Industry-leading Cross Border Bill Pay Solution for Financial Institutions

“Canadian fintech Buckzy Payments Inc. today announced an enhancement to its real-time cross border network by including real-time cross border bill pay through a single connection, solving a longstanding challenge to international bill payments. Despite many industry leaders attempting to find real-time cross border bill payment solutions, Buckzy is the first to present a functional […]
nbsp;

Systems

BHMI Selected to Support Back-Office Functionality of the Zelle Network®

“Baldwin Hackett & Meeks, Inc. (BHMI) , a leading provider of enterprise software applications and creator of the Concourse Financial Software Suite™ , announced that Early Warning Services, LLC, the network operator behind the Zelle® fast payments network, has selected Concourse to support disputes management for payment transactions processed by the Zelle Network®.”
nbsp;

Systems

The Clearing House Remains Focused on Operating and Growing the RTP® Network | The Clearing House

“We are already seeing how these real-time capabilities are providing for tremendous advances in speed, convenience, and security in how Americans receive and send funds. We are excited about the many ways that this revolution in payments will continue to deliver new benefits to depository institutions and their customers. While we will stay abreast of […]