Financial providers worldwide are working to give small and medium-sized businesses (SMBs) quick access to their funds. Digital banks, for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits.
The September Faster Payments Tracker explores new initiatives aimed at better serving SMBs’ payment needs as well as other key developments in the space.