• Mastercard (MA) Boosts Blockchain Usage in its Operations

    Mastercard Incorported, essentially a technology company, is fast incorporating the blockchain technology into its operations. The company is going a step further by trying this novel technology after having made massive investments in its digital platform  over past many years. The need for the same is driven by changing trends in the digital economy, which calls for faster payments via electronic means.
  • Four months later, what became of Real Time Payments?

    Considering The Clearing House's Real Time Payments service launched in November and only six banks have signed up in the months that followed, it's clear that there's more work to do to build an ubiquitous network. Everyone involved in getting RTP operating at scale expects that it will find more suitors as it evolves and ties into more use cases.
  • Innovative Finance Global Summit gets fintech ready for adulthood

    Fintech is an adolescent suddenly realising it can’t use the excuse of being young for any inadequacies. Like with everyone when they reach adulthood the rules change.
  • Omnichannel Fraud Prevention: Managing Risk in a Digital Age

    When we think about the evolution of the financial industry in less than two short decades, it is quite astonishing.  I worked in a bank during my college years, back when customers would come into the branch to ask why the account balance reported from the ATM machine did not match the balance I had provided to them on their deposit receipt. The Call Center was just starting to enable transfers via inter-bank accounts.  The Internet existed during this time, but it was still not mainstream.  We were a few years away from the revolution of online banking.
  • Fed Task Force Releases Payment Lifecycles And Security Profiles

    Through the collaborative efforts of those with backgrounds in payments and security, the Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles.” The profiles serve as educational materials outlining the lifecycles, security characteristics and relevant laws and regulations for the most common payment types, the Federal Reserve said in a press release.
  • NACHA Marks the Completion of the Third Phase of Same Day ACH

    The Electronic Payments Association® today marks the “go live” date of the third phase of Same Day ACH. Under this latest phase, banks and credit unions that receive Same Day ACH credit payments make funds available to their depositors by 5 p.m. (in their local time).
  • Paypal Files Patent Application: Company Looking to Get Involved in Virtual Currencies

    According to an application with the U.S. Patent and Trademark Office, PayPal wants to speed up crypto transaction processing times and has filed a patent for a faster cryptocurrency payment system.
  • First Direct launches voice-activated Siri payments

    First Direct has become the latest bank to offer voice-activated payments to customers using the Siri tool on Apple iPhones. Customers can now make payments to existing payees or mobile contacts without the need to log into online banking or input their password.
  • American Express files blockchain patent for faster B2B payments

    American Express has filed a patent related to faster payments and blockchain technology. The filing describes a blockchain solution to receive requests for payment, which would then be approved or rejected, a process that would include risk analysis. The platform, if approved, would automate processing and adjust accounts on both ends of the transaction. The solution would require both payer and payee to create a blockchain-based digital wallet, enabling payments to occur on the blockchain platform itself rather than via a third-party institution.
  • Prospects For Global Real Time Payments

    As payment industry participants consider opportunities in real time and faster payment solutions, one channel that often arises as offering some of the most promise is international, cross border transactions.  This is also proving to be the most difficult, despite the growing number of real time payment capabilities that are being launched around the world.
  • Real-Time Payments to Drive Revenue Growth and Provide Launchpad for Innovation

    ASEAN financial institutions are focusing increasing investment on payments modernization, with real-time payments capabilities serving as the first step to digital transformation across consumer and corporate services, per new benchmark data, “2018 ASEAN Payments Insight Survey: Real-Time Payments Modernization and Innovation,” from ACI Worldwide (NASDAQ: ACIW) and Ovum.
  • Ripple (XRP) 6 Major Partnerships In 2018

    Ripple is a real-time gross settlement system, currency exchange and remittance network. Using blockchain that is managed by a network of independently validating servers that constantly compare transaction records. The main aim is to provide a transparent and safe payment system as an alternative to the already existing systems. Ripple stays relevant in the news and consistently providing big announcement and new partnerships. In this video I’m presenting 6 major partnerships Ripple announced/made in 2018.
  • Big bank influence grows: The Clearing House Association merging with Financial Services Roundtable

    Seeking to increase the influence of the nation’s largest banks on the legislative process, two of the nation’s largest banking trading groups are joining forces. The Financial Services Roundtable and The Clearing House Association are merging, the two groups announced Tuesday.
  • Financial Inclusion: Accelerated, Collaborative, Mobile and Global

    Financial inclusion is no mere buzzword in financial services. Call it life-changing, if done right. Everything for the heretofore unbanked and underbanked can improve – beyond mere wealth. Think health, education, quality of life. Stability.
  • Bank partners Facebook and Mastercard to pioneer QR payments on Facebook Messenger

    QR Payments (Quick Response Payments) will allow individuals and small business make and receive payments in real time via Facebook Messenger.
  • TRENDING: Fixing B2B Payment’s $18.5 Trillion Problem

    From community banks to central banks, the need for faster payments is gripping financial institutions (FIs) of all shapes and sizes. FIs worldwide are making bold pushes to increase their payment speed, from Australia’s new real-time payments scheme to Saudi Arabia’s turn to blockchain.
  • Square's Cash App is suddenly very much like a bank account — for the bitcoin crowd

    The Square Cash App P-to-P service has come a long way from its roots as a bare-bones money transfer system meant to be used over email. The unexpected addition of direct deposit makes it much more viable as a bank account alternative.
  • Digital Compliance Sends Money Transfers Speeding

    Time-consuming compliance checks and complications tend to be a lag on movement of B2B cross-border payments – some $18.5 trillion of which are moved annually, but Brion Nazzaro, group compliance director of WorldRemit, says that time can be cut with online identity checks and steering away from cash. PYMNTS gets the scoop on how the company is speeding up cross-border payments with online ID verification tools, and takes a closer look at the latest on Australia’s launch of its faster payments scheme, inside the latest Faster Payments TrackerTM.
  • SWIFT Gears Up To Challenge Ripple With Instant Global Fund Transfer

    Cryptocurrency investors continue to hear about new deals being signed by Ripple, a San Francisco-based company facilitating blockchain technology based fund transfers quicker and cheaper. However, SWIFT (Society For Worldwide Interbank Financial Telecommunication), which has dominated the international fund transfer system for over four decades is not going to let Ripple succeed without a tough fight. Last month, SWIFT has successfully launched its New Payments Platform (NPP) in Australia.
  • Could bitcoin and blockchain blow up banking as we know it?

    Some have dismissed blockchain and cryptocurrency as a fad that spells too much trouble for governments to become a mainstay in our everyday lives. Others believe it presents too many advantages for businesses and consumers for it to disappear.