• How Faster Payments Could Kill the Two-Week Pay Cycle —

    The use cases for faster payments are typically considered to be somewhat niche: payments to the gig economy, immediate insurance disbursements, disaster relief, etc. But if any payment can be made in real time, why should full-time employees wait two weeks for every paycheck?
  • 8 Mobile Payment Trends that Matter for 2019 — Mobile Payments Today

    We will see global, cross-channel, point of sale solutions integrated with the merchant back-office and financing options to reach scale. Globally, European open banking efforts will create the foundation of significant point of sale innovation. Successful merchant acquirers/payment processors will innovate through some combination of three strategies.
  • PayThink: P2P’s Speed Puts Personal Info at Greater Risk —

    Peer-to-peer payments have increasingly become the norm. The National Automated Clearing House Association found that 29.4 million P2P transactions were executed in last year's second quarter alone, a 24% increase from 2017. It shouldn’t come as a surprise: Mobile payments are a fast, easy and convenient way to transfer money.
  • Today In Data: The Future Of Faster Payments —

    Financial Innovation Now (FIN) submitted a public letter in December, contending that the Fed was best-positioned to operate a ubiquitous, interoperable real-time payments network. Innovation, flexibility and agility helped drive WEX’s acquisition of Discovery Benefits, Inc. (DBI). Mobile is expected to comprise more than half of eCommerce in the coming years. Online retailers are forecasted to open hundreds of stores, and Brandless has rolled out a subscription service.
  • Looking Backward To Move Forward: Payments In 2019 —

    As Justin Trudeau remarked at the World Economic Forum earlier this year, "The pace of change has never been this fast, yet it will never be this slow again." That message rings true in payments, where each year the level of innovation and progress continues to accelerate, creating new market dynamics, opportunities and challenges for all participants.
  • The Clearing House Gets Going With Real-Time Payments —

    A real-time payments network for individuals and corporations is being implemented by The Clearing House (TCH) a private firm owned by 24 of the largest banks. It will be the first major upgrade in electronic payments since the Automated Clearing House (ACH) was created 40 years ago and Check 21 launched in 2001.
  • Sizzle Of The Week: Zelle’s Accelerating Growth —

    Bank earnings this week gave us a bit of insight into the momentum gained by bank-backed P2P payment network Zelle in 2018. For example, Bank of America reported on Wednesday (Jan. 16) that Zelle payments were up 97 percent in Q4 2018, signaling the latest burst of growth for that payment method. By the numbers, that means that Q4 saw 52 million payments worth $14 billion traveling over Zelle’s rails.
  • Upcoming Trends in FinTech Industry—Banking CIO Outlook

    FinTech industry is at a rapid pace of transformation. Digital and cryptocurrencies have started to dominate the sector. With the advancements making their way in the market new trends are evident to happen. Upcoming trends will not affect only the leaders but also small organizations would be benefitted from the same.
  • How Many Faster Payments Providers is Enough — Payments Journal

    In December banks, credit unions, fintech businesses, retailers, and technology providers submitted comments to the Federal Reserve regarding their proposal to become a real-time payments operator. Big banks are supporting the already launched RTP solution created and supported by The Clearing House (TCH) which is owned by said big banks. Smaller banks and credit unions plus retailers want a Fed alternative to TCH, assuming that the Fed will provide a market alternative and serve to keep the playing field level and pricing in check.
  • New Square Card Promises Instant Funds to SMBs—

    You know your stature by the enemies you make, right? That’s the old saying at least. Well, “enemy” might be too strong a term — business is not war — but Square this week found itself a target of First Data and Fiserv, two big payments players merging in a $22 billion deal that will result in a consolidated organization called Fiserv. When talking about the deal, Fiserv CEO Jeffery Yabuki described Square as a threat to traditional banks.
  • Sending Ripple’s XRP Will be as Easy as Sending an Email—BTCNN

    Ross D’Arcy, Ripple’s sales director, made comparisons between Ripple, a Blockchain-based payment protocol and SWIFT, a settlement system used by banks for cross border payments. According to D’Arcy, Ripple is designed to allow customers to send payments easily and faster just like sending an email or making a voice chat, reports a media outlet on January 18.
  • What do Antilock Brakes and Instant Payments Have in Common? —

    “Can we all just agree that real-time access to money isn’t going to be an option anymore?” said Ingo Money CEO Drew Edwards. That’s how Friday’s conversation between Edwards and Karen Webster started. Yet, according to the latest Disbursements Tracker, a collaborative effort between Ingo Money and PYMNTS, hurdles remain.
  • The Big Tech Canary in the Faster Payments Coal Mine—

    There’s a canary in the faster payments coalmine. It flew in on Dec. 14, the Friday before the week before Christmas, so you might not have noticed. That was the day that an advocacy group, Financial Innovation Now (FIN), submitted a public comment letter to the Fed in response to its proposal to create and operate a real-time payments system in the U.S.
  • BankThink: Real-time Payments Needs More Competition.

    The Federal Reserve has floated the idea of its entering the market for real-time interbank payments and invited public comment. As a matter of public policy, the Federal Reserve shouldn’t be a payments operator where the private sector can adequately and competitively serve. For instance, the Fed could enter the retail payments market, to try to lower costs for merchants and/or cater to small banks. But retail payments are fiercely competitive, well served by Visa, Mastercard, American Express, PayPal, Discover, Star, NYCE, Accel and more.
  • Healthcare Providers are Receiving More Claim Payments by ACH.

    The number of healthcare claims paid electronically via the ACH Network continued robust growth in 2018, new figures from NACHA show.
  • Real-Time Payments Market Global Forecast, Top Product From 2019-2023: Worldline, Temenos, Visa...

    The study on Global Real-Time Payments Market Growth (Status and Outlook) 2018-2023 revealed by Fior Markets is the impression of fundamental data identified with the market globally depending on the factors influencing the growth of the market. The market research report has split into type and application to help the industry. The report looks at a present status of the industry as well as outlook aspects to provide interested parties’ avenues to growth and take advantage of conditions.
  • Bank Of America’s Zelle P2P Transactions Nearly Double In Q4 —

    Zelle P2P payments increased 97 percent in the fourth quarter of 2018, Bank of America said Wednesday (Jan. 16), signaling the latest burst of growth for that payment method. During that quarter, consumers made 52 million payments worth $14 billion via Zelle.
  • Fiserv to Buy First Data for $22 Billion, Forging Payments Giant —

    Fiserv will acquire First Data Corp. for $22 billion in a payments processing deal that marks one of the biggest financial mergers in a decade and a win for private-equity giant KKR & Co.
  • PayThink: Payments' Tech Wave Provides a Feast for Community Banks and Credit Unions

    Community banks and credit unions remain best suited to provide a local connection, forming a beneficial bond with their customers and communities. 2019 will be a year of significant progress in modern banking, a time when regional and community institutions leverage payments to create a strong competitive edge.
  • Fintech Firms Want to Shake up Banking, and That Worries the Fed —

    WASHINGTON (Reuters) - The U.S. Federal Reserve is wary of giving “fintech” firms such as OnDeck Capital Inc (ONDK.N) or Kabbage Inc. access to the country’s financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold.