The adoption of faster payments, one of the most anticipated trends in the payments industry, has reached a critical point. Due to the demand faster and better payment methods, the adoption of faster payments is inevitable, meaning that it’s no longer a question of if adoption will occur, but when.
However, in order for this widespread overhaul of the U.S. payments industry to happen, processors, networks, and bank technology providers must understand and overcome a variety of challenges. To aid these parties, Mercator Advisory Group partnered with BHMI to publish a research brief titled “Is Your Back Office Keeping Up with the New World of Payments?”
The report reviews the current payments landscape, discusses the pros and cons of adoption for industry participants, and suggests methods for successful end-to-end implementation of faster payments.