The Value Of Faster Payments

PYMNTS

The flow of money and data across borders is developing a new ecosystem in which payments data has as much value as the funds themselves. million: Total number of merchants participating in Singtel’s VIA cross-border mobile payments alliance. $1

Succeeding in the future of payments

Insights on Business

The payments industry is at an inflection point. Customers increasingly demand new payment options like real-time payments and P2P payments, underpinned by security and trust. Progressive approach to payments modernization.

As P2P Payments Spreads Its Wings, Challenges Loom

PYMNTS

The spotlight burned brighter for peer-to-peer (P2P) payment services in the first quarter of 2019, with those payment methods finding popularity among more consumers. Payment values went up 54 percent year over year, and payment volume increased 72 percent.

Why FIS chose IBM Safer Payments for payment fraud prevention

Insights on Business

With new payments products surfacing regularly, unpredictable threats also continue to increase with these new platforms and services. P2P payments goes mainstream . P2P payments popularity continues to grow exponentially where nearly 60% of people in the U.S.

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Amazon Will Soon Accept Bitcoin Payments

PYMNTS

Cryptocurrency payment processing company Moon said any e-wallet that is lightning-enabled can also be used through the company’s browser extension. The company also handles the interface and manages the payment channels.

Global Demand Grows For Instant Payments

PYMNTS

So it is with payments, where speed counts. The movement toward faster payments and peer to peer (P2P) is, well, quickening. As the Faster Payments Tracker shows, the clamor for speedier payments spans the globe.

NACHA, FPC Team For Faster Payments Playbook

PYMNTS

NACHA and its Payments Innovation Alliance announced that it is working with the U.S. Faster Payments Council (FPC) to expand the Faster Payments Playbook. payments system.

Ready Or Not, Faster Payments Will Impact Corporate Operations

PYMNTS

Corporate payments still don’t have a clear role in driving the adoption of faster payment technologies and systems in the U.S. Still, others have said that B2B payments should be largely left out of the faster payments conversation.

Deep Dive: Making Instant Payment Schemes Universal And Interoperable

PYMNTS

Many countries around the world are rolling out instant payments schemes that bring speed and convenience to payments made within their own borders. Unfortunately, those benefits are often limited when it comes to cross-border payments.

In India, Faster Payments Deliver ‘Instant Gratification’ To Migrants

PYMNTS

India’s financial ecosystem underwent several shifts after the country made the move to demonetize, resulting in payment rails such as the Immediate Payment Service (IMPS) and the Unified Payments Interface (UPI). Migrants make up a substantial portion of the economy in India.

Payments Execs On 2019’s Payments Innovation Watershed

PYMNTS

As always, in payments, the one real constant is change. Innovation biometrics Commerce ebook executives Featured News News payments Security TechnologyOne decade draws to a close, the next one looms.

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Mastercard Revs Its Payments Innovation Engine

PYMNTS

That provides a rough idea of some of the motivation behind Mastercard ’s latest effort in payments and commerce innovation — an effort described in depth in a new PYMNTS interview between Karen Webster and Amnah Ajmal, Mastercard’s executive vice president of core products.

Lyft, Mastercard Partner to Offer Instant Payment, Banking for Drivers

Bank Innovation

The ride-hailing service is working with Mastercard and payments company Payfare on a co-branded debit card called Lyft Direct Debit. Payments Premium Retail card payments financial apps Mastercard Payfare

Adyen Launches New Open Banking Payment Service

PYMNTS

Adyen, the payments platform, announced Wednesday (Feb. 20) it has launched a new payment service that is powered by open banking. Adyen said it is one of the early adopters to launch a PSD2 API payment method that provides direct APIs into leading U.K.

Card Payment Use Rises Globally

PYMNTS

The number of merchants accepting card payments around the world grew by 13 percent in 2017, to 69.2 RBR, a research and consulting firm for banking and retail, released a forecast of payment card data through 2023, and found that card payment acceptance is growing at a fast rate.

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Gas Payment Solution PayByCar Launches In Massachusetts

PYMNTS

A first-in-the-nation payment solution that allows drivers to purchase gas from their cars without taking out cash, a credit card or a mobile app has launched in Westborough, MA.

Resolve Shakes Up B2B POS Payments

PYMNTS

Resolve, a B2B payment services firm that spun off from Affirm , provides point-of-sale (POS) financing to consumers via retailers, including Walmart. The Resolve offering works as an automated payment platform, integrated into B2B commerce websites.

Why Construction Payments’ Friction Has Nothing To Do With Payments

PYMNTS

A B2B transaction in an industry like construction, where what triggers a payment isn’t a single, simple invoice. It is perhaps unsurprising, then, that the construction sector is no stranger to delayed and late B2B payments. What’s more complicated than a B2B transaction?

QuickBooks Enables Next Day ACH Payments For SMBs

PYMNTS

Intuit’s QuickBooks is introducing a new feature designed to accelerate payments and cash flow for small businesses. Businesses that invoice via QuickBooks Payments can receive next-day funding for both credit card and ACH transactions.

Payments 2022: Why Payments Is Make-Or-Break For Digital Platforms

PYMNTS

However, the payment capabilities that have propelled the growth of platforms such as Uber and Airbnb , for instance, are too inefficient to support their ambitious growth plans over the next three years. Platforms overwhelmingly view payments as central to achieving their growth objectives.

Will Instant Payments Spur Healthcare Innovation?

PYMNTS

Healthcare is an undoubtedly complicated space for all the players involved (the providers, insurers, patients, pharmaceutical manufacturers), particularly when it comes to payments. On the business-to-business (B2B) side of things, payments have improved quite a bit in terms of digitization.

Citigroup Ramps Up Payments Tech With New Tools

PYMNTS

Citigroup ’s Global Head of Payments and Receivables Manish Kohli is relying on technology to increase its payment business. Kohli was tapped in 2017 by Citigroup to run the global payments and receivables unit, which is an important business at Citigroup.

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Flywire Surpasses $10B In Total Payments Volume

PYMNTS

Global payments and receivables company Flywire enjoyed strong growth in 2018 that it plans to carry into this coming year and over $10 billion in total payments volume.

JPMorgan To Expand Blockchain Use For Payments

PYMNTS

JPMorgan Chase is planning to expand its use of blockchain technology to improve the banking industry’s payment system, as well as get FinTechs to experiment on developing the platform. The platform allows banks to quickly resolve compliance issues that can delay payments by weeks.

The Pitfalls Of Unsustainable Supplier Payment Terms

PYMNTS

Lengthening payment terms between corporate buyers and suppliers have built up a bad reputation in the B2B space — thanks, in part, to payment practices deployed by large entities like Carillion in a demonstration of buying power abuse over smaller vendors.

Why Certainty Rules Payments

PYMNTS

The handwritten invoice he left with my cushions included his name, his mobile phone number and the payment methods he accepted: cash or check. So, I called and asked whether he would accept payment via my bank app and his mobile phone number. He said when he went to his bank — a small one — to ask for help, he was told the bank didn’t support this type of payment and to return the next day when the manager was back. Ubiquity, of course, is payments nirvana.

How Data Will Speed The Move To Cashless Payments

PYMNTS

Ours is swiftly becoming the age of digital payments, push payments and instant payments, done by bits and bytes rather than through the conduits of coins and bills. Consider the fact that roughly half of business payments in the United States are still done via checks.

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How Retailers Are Gearing Up For Contactless Payments Via mPOS

PYMNTS

With the use of contactless payments heating up around the world, small and mid-sized businesses (SMBs) and their solution providers have to prepare for their acceptance. Last year, however, contactless payments in the United Kingdom alone jumped by a whopping 31 percent over the prior year.

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The State Of Faster Payments: ‘Early Innings’

PYMNTS

Might the state of faster payments be described as “conflicted?”. That can be a problem when, by and large, payments as an industry still operates through what might be termed as “a batch process.” I would say the same thing about a lot of the faster [payment] rails.”.

Delivering differentiated business value with intelligent routing of payments

Insights on Business

Innovative payment options today are driving competition and rapid changes in the payments industry. Enabling intelligent routing of payments for banking customers. For decades, the choice of payment methods has been somewhat limited. Payment beneficiary preferences.

Faster Payments, Real-Time Payments And A Few Glitches

PYMNTS

The move toward faster payments is an inexorable one. As reported earlier this month, Hong Kong’s newly debuted Faster Payments System (FPS) has seen its share of controversy, at least at the outset. Perhaps unsurprisingly, real-time payments looms.

Thailand’s Largest Firm Taps Ripple For B2B Payments

PYMNTS

” Their announcement follows Ripple’s own blog post last year that noted Siam Commercial Bank would become the first financial institution (FI) to join RippleNet, and deploy its “multi-hop” functionality to settle payments on behalf of other FIs on the network.

Payment Network Zelle Processed $39B During Q1

PYMNTS

Digital payment company Zelle sent $39 billion through its network on 147 million transactions during the first quarter of this year, the company said in a news release. Payment values went up 54 percent year over year, and payment volume increased 72 percent.

How FinTechs See The Evolution Of Payments And Commerce

PYMNTS

FinTech firms are tracking the evolution of digital commerce and payments while tapping into the experiences of their leaders. By doing so, he thinks the company has created visibility for the value that faster electronic payments can create.

Blockchain 101: Mobile payments

Mobile Payments Today

Let's take a look at the what blockchain is, and how it can help transform the mobile payments industry

Fintech startups use unique approaches to payments to raise funding

Mobile Payments Today

As venture capital continues to look for new opportunties, startup firms in the fintech space are taking unique approaches to payments and financing to raise new funding to accelerate their growth

Faster Payments, Faster Fraudsters

PYMNTS

Real-time schemes represent significant changes to the world’s existing payments infrastructure. Bad actors can utilize ATOs and application fraud to take advantage of real-time payments rails and access stolen funds. Understanding Real-Time Payments Changes.

ACH Shows Signs Of B2B Payments Dominance

PYMNTS

New analysis from corporate payments firm Bill.com suggests ACH payments are dominating the accounts payable department. Only 6 percent of respondents said they aren’t using digital payments to pay their corporate clients’ bills.

Crypto Goes After Intercompany B2B Payments

PYMNTS

Corporate payments are still not a guaranteed use case for cryptocurrencies. Co-Founder Dmitry Lazarichev explained to PYMNTS why the company remains confident in cryptocurrency’s potential for corporate payments. Cross-Border Payments Friction.

The Canadian payments ecosystem is at an inflection point

Insights on Business

As the payments ecosystem in Canada continues to expand and evolve, IBM is looking forward to participating with industry leaders, innovators and challengers at the upcoming the Payments Canada Summit , taking place in Toronto on May 14-16, 2019.

B2B Payments Energized (Literally) Across Borders

PYMNTS

SCB had been the first commercial institution to use the RippleNet “multi-hop” functionality to settle payments for other financial institutions (FIs) on that network. Separately, the card giants are hardly resting quietly on the sidelines of the cross-border payments game.

Canada Cannabis Payments Face Hurdles

PYMNTS

Still, even after all these months, and even with legalization done at a federal scale (as opposed to province by province), the cannabis payments process has hardly hit a full stride. Payments Warning. AML canada Cannabis digital payments Marijuana News payments pot regulations