On The Web

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Case Study

Advances In Real Time (Case Study)

July 13 2018

• in
• APIs
• Distributed Ledger Technology (DLT)
• Real-Time Payments

“[T]he rise of digital financial services has changed the nature of payments and payment platforms in many ways. Customers can transfer money across great distances with a few taps on their mobile phones, with low or no associated fees. Providers can reach customers they weren’t able to before—namely, people with very limited assets who are […]

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Systems

Bank Of England To Rebuild Settlement System To Interface With Blockchain Platforms

June 25 2018

• in
• Blockchain
• Real-Time Payments

“The Bank of England is planning to rebuild its Real Time Gross Settlement (RTGS) system so that it can interface with private business and platforms using distributed ledger technology (DLT), the bank’s Governor Mark Carney announced in a speech June 21. Speaking at Mansion House in London, Carney said that the bank will conduct an “ambitious rebuild” of its RTGS system, […]

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Systems

Bay Area Users Say Zelle Lost Their Money

May 29 2018

• in
• Real-Time Payments

“But Zelle does not guarantee that misguided money can be retrieved. It warns in its terms of use that: “You are solely responsible for entering the correct mobile phone number or email address for the person you are sending money to… and “you are responsible for any amounts that are transferred to the incorrect person […]

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Global

Australia’s Big Four roll out real-time payments with Osko

September 4 2018

• in
• Australia
• Real-Time Payments

“Using Osko, money can be sent and are received in under a minute via a PayID or BSB and account number between participating Osko banks and financial institutions. Customers can attach up to 280 characters of text or emojis to describe the payment. Over 1.9 million Australian’s have already signed up for a PayID and […]

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Global

Mastercard Payment: How The Worldpay Partnership Could Change Everything (UK)

July 16 2018

• in
• Real-Time Payments
• UK

“Mastercard has decided to push the Pay by Bank app, a VocaLink asset, by partnering with Worldpay. The Pay By Bank app allows consumers to bypass Mastercard’s own network and make payments directly via their banking app and bank account. It was developed by Zapp in 2013, but has taken half a decade to pick […]

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Systems

KeyBank Launches Instant PaymentProduct With Ingo Money

July 20 2018

• in
• Real-Time Payments

“KeyCorp announced today the launch of its instant payment product with Ingo Money. Through Ingo Push, Ingo Money’s turn-key push payment platform, KeyBank business clients can disburse guaranteed funds in real-time, according to a press release. Ingo Money enables businesses, banks and government agencies to meet consumer demand for instant money proceeds while saving time and […]

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Global

PC wants access regime for real-time payments system

August 9 2018

• in
• Real-Time Payments

“The federal government is inclined to support the Productivity Commission’s call for a formal access regime to be set up to ensure the real-time New Payments Platform (NPP) is open to disruptors, government sources have indicated.”

On The Wires

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Systems

First Data And Mastercard Join Forces To Provide Digital Disbursements To Clients

June 13 2018

• in
• Real-Time Payments

“Debit disbursements are growing in popularity with participants in the gig economy, such as ride sharing platforms and rental marketplaces, where workers expect real time debit payouts for their services. Other beneficiaries of real time debit payments are businesses with high volumes of consumer payouts including insurance claims, rebates, refunds and commissions.”

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Companies

Visa And MoneyGram Team Up To Simplify Overseas Money Transfers

July 24 2018

• in
• Cards
• Cross-border payments
• Real-Time Payments
• Visa

“Visa Direct allows companies to leverage Visa’s global reach and scale to transform domestic and cross-border payments for businesses and consumers. The agreement with MoneyGram is the first cross-border use case for Visa Direct transactions originating in the U.S. The initial phase includes two priority corridors (United States to Mexico and United States to Philippines) […]

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Companies

FIS Technology Speeds Testing And Certification Process For RTP, New Real-Time Payments System From The Clearing House

June 26 2018

• in
• FIS
• Real-Time Payments
• The Clearing House (TCH)

“Financial institutions and payment firms looking to connect to RTP can use the tool to test their readiness to complete RTP certification. They are required to run a variety of simulated tests prior to being certified on the RTP system. New software from FIS will automate the process, allowing participants to run the required tests […]