Payment Players Launch U.S. Faster Payments Council To Speed Up Payments

PYMNTS

A group of payment players announced Tuesday (Nov. Faster Payments Council (FPC), aimed at working toward a ubiquitous payment system that enables Americans to safely and securely pay anyone, anywhere and at any time with near-immediate funds availability.

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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ACH Shows Signs Of B2B Payments Dominance

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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.

2019: The Year Of Instant Payments

PYMNTS

The need is widespread, Ingo Money CEO Drew Edwards told Karen Webster in a recent conversation , and the call for faster and instant disbursements has come in loudly from enough corners to dub 2018 as the “Great Awakening” of push payments.

Alternative Payments Gain Global Traction, But Cash Remains Tough Foe

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The recent announcement that China’s UnionPay and Huawei are teaming up to bring Huawei Pay to Russia stands as the latest example that alternative payments are spreading to different parts of the world. The Huawei Mate S was the first Huawei device to support the new payment capabilities.

Faster Payments, Real-Time Payments And A Few Glitches

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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.

In Hungary, Instant Payments Gain Traction

PYMNTS

The new year dawned with individual country and company initiatives tied to instant payments, and moving beyond cash transactions. 3) that, in Hungary, commercial banks have started a test phase for a domestic instant payments system, with a “go live” date slated for July 1.

US Faster Payments Council Names New Leadership

PYMNTS

Faster Payments Council (FPC), a membership comprised of payment industry leaders, has appointed Kevin Christensen, a senior executive at the SHAZAM network, as the acting executive director and interim board chair, according to a news release by the organization. The U.S.

2018: The Year Of Evolution In Payments’ Revolution

PYMNTS

In life, change is the only constant, so why should it be different for payments? As usual, we spoke to a plethora of payments executives (25 to be exact), each with a perspective on what’s in the rearview mirror and what lies on the road ahead.

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Square Launches In-App Payments Kit For Sellers

PYMNTS

Payment company Square , popular for its square-shaped mobile card reader, has released an in-app payments software development kit (SDK) that will give developers and sellers alike a new way to process payments. The SDK is customizable and works with most payment types.

Santander Launches Enterprise Payment Link

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Santander Bank is rolling out a new corporate payments solution aimed at supporting visibility into business transactions via wire, ACH and check. The bank debuted its Santander Enterprise Payment Link (EPL) solution in a press release issued Monday (Nov.

RBI Releases Guidelines For Electronic Card Payments

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Instead of the card’s details, the token will act as the card at point of sale (POS) terminals and quick response (QR) code payment systems. The goal of the process is to improve the safety and security of payments.

From Cash To Real-Time Payments

PYMNTS

Forty countries: That’s how many places either have real-time payments programs in progress or live. Along the way they dug into important data points that describe not only the current status of real-time payments , but the opportunities that could help spark further growth.

The Roil Over B2B Payments Rails

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B2B payments innovators and Warren Buffet have something in common: They are both obsessed with rails. Making B2B Payments Rails Hot. Today, a host of innovators are making B2B payments rails sexy again too. This payments debate — old rails/new rails — is not new.

Amex Touts Success In Ripple Cross-Border Payments Pilot

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In a renewed show of support for blockchain technology , American Express General Manager of Corporate Payments Carlos Carriedo has suggested that its pilot tests with partner Ripple to enable real-time cross-border corporate payments have been a success.

Instant Payments Gain Ground With SEPA, SWIFT

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The payment messaging entity SWIFT this past week began implementing its SWIFTNet Instant service that is tied to the Eurosystem’s TARGET Instant Payment Settlement service. Drilling down a bit from pan-European efforts in payments infrastructure to more granular ones, in the U.K.,

Ripple Hits Customer Milestone, Eyes X-Border Payments Disruption

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According to a blog post , Ripple said that in addition to the 200 customers, it has seen a 350 percent increase in customers who are sending live payments over its blockchain platform. Cryptocurrency Blockchain cryptocurrency News payment network real time payments Ripple What's Hot XRP

Online Sports Gambling Makes Bet On Faster Payments

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That’s where reloadable cards and instant access to funds come in — especially as the worlds of payments and commerce move further toward the goal of frictionless transactions and sports betting in the U.S. Payment Options.

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Where B2B Payments, Banking And Lending Connect

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B2B payments is all too often a waiting game, one that can be damaging to the survival of a small business (SMB). This week, the company announced the launch of its B2B payments network, which allows a small business to turn a check payment into usable funds via prepaid card.

Raising The Roof With Platform Payments

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As a growing group of consumers around the globe adopt digital payment platforms and tools, some well-known players, including Google and Amazon, are now working to improve and expand access to the solutions that will make those transactions as frictionless as possible.

Peru Taps Vocalink In Payments System Overhaul

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Amid the continuing movements by governments and nations to overhaul payments operations, Vocalink said Wednesday (Dec. The initiative will focus on creating an architecture that will eventually allow for the real-time processing of electronic payments.

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Deep Dive: Making Smarter Payments Safer

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Banks and businesses handling personal information face a delicate balancing act as global systems embrace smarter payments. Data is crucial and — fortunately, for banks and businesses in the smarter payments space — plentiful. billion payments by 2026.

Payments Fraud Rides Money Mules Into 2019

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It’s no surprise that payments fraud is on the rise. B2B Payments B2B banking charity CNP fraud credit FBI fraud money laundering Mule Account News payments fraud

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Corporates Compile Their Payments Innovation Wish Lists

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However, these professionals have their own ideas about where corporate payments innovation should be headed. A new report from BNY Mellon , “The Future of Payments: A Corporate Perspective,” surveyed a few corporate clients of the institutions’ Treasury Services unit.

The High Price Of Payments — And Innovation — In Travel

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There is also the chance (please no, not this time) of some hassle with payments, such as the corporate account or card not going through, or maybe, on the travel agency side, a software glitch or another problem that adds friction and frustration to an already long travel day.

Coinone Releases Payment App Featuring Ripple Technology

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It offers payment services for people who want to send money to Thailand and the Philippines. The app is being formally released by Coinone’s payments subsidiary, Coinone Transfer, to enable people without banks or bank accounts to transfer money at a low cost.

Faster Payments, Open Banking Should Keep Treasurers On High Alert

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While financial services (FinServ) innovations often emerge with built-in security measures, new market trends — including faster payments and open banking — are introducing new security threats to corporate treasury departments, according to cybersecurity company BioCatch.

How Small Businesses Ride Their Payment Rails

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As NACHA expands Same Day ACH functionality, it’s unclear how small and medium-sized businesses (SMBs) will embrace the faster payment capability. New data has emerged about how SMBs use other payment rails , including cards and wire transfers.

Bank Of England Plans Panel To Standardize Payments Messaging

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continues its move to adopt the ISO 20022 payments messaging standard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country. Payments What's Hot In B2BAs the U.K.

Worldpay Finds Contactless Payments Surpass Chip, Pin Card Purchases

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Worldpay, the payment technology company, announced Tuesday (Oct. 16) that for the first time, contactless payments have become more popular than chip and pin card purchases when paying in-store in the U.K.

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UK Tries Another Late Payments Tactic With Stoplight System

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The only details released so far have said that a red light will be shown to identify repeat offenders, as well as for companies that fail to publish their payment terms, which they are obligated to do twice a year. The U.K.

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Blockchain Tech Disrupts The Corporate Payments Status Quo

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Blockchain seemed to be stuck in pilot phase in 2017, but in 2018, the financial services industry finally saw a stronger flow of real-world, working blockchain applications — many of which targeted pain points in B2B payments, including the time and lack of transparency in cross-border transactions.

What Australia Can Teach The World About Real-Time Payments

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On the face of it, the lure of real-time payments might seem like an inevitability. The advocacy comes in the wake of real-time payments infrastructure deployment and use in countries such as the United Kingdom and Singapore.

Cross-Border Payments Need More Than Bank-FinTech Collaboration

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When PYMNTS asked cross-border payments experts at the end of last year what they thought the driving trend would be for the industry in 2018, the consensus was all about collaboration , particularly between banks and FinTech firms.

QR Payments Coming To Hong Kong Subways

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The subway system in Hong Kong will allow commuters to scan a QR code as a payment method after announcing a deal with Alibaba’s payment affiliate Ant Financial last week. It’s not clear if the payment method will be extended to MTR’s rails, buses and other transportation methods.

Today In Data: The Rapid Growth Of Real-Time Payments

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New technologies are enabling consumers and business to experience faster payments than ever before: While only 25 real-time payment systems were operational worldwide last year, 40 such rails were live this September, and 67 percent of consumer payments are now made electronically.

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TRENDING: BigCommerce On How Platforms Solve Big eCommerce Payment Complexities

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In the latest Payments Powering Platforms Tracker , PYMNTS explores the latest efforts by industry giants and platform powerhouses to improve their payment experiences and make their offerings more enticing to consumers globally. Around The Payment Platforms World.

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NEW REPORT: How Smarter Payments Build Smarter, Safer Marketplaces

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The rise of faster payment systems worldwide are not only enabling payments to move between parties at greatly enhanced speeds, but a growing share of companies are rethinking their traditional business models to take advantage of these more efficient payment tools.

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NEW REPORT: Can Smarter Payments Kill Off Timesheets?

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In the smarter payments ecosystem, payments are more than simply moving funds from sender to recipient. These transactions are also about the transfer of data that can inform and improve the payments process. Around The Smarter Payments World.

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TRENDING: Freelancers Give Gig Economy An Instant Payments Push

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The influx of freelancers is pushing companies to adopt even faster methods of disbursements to satisfy their need for payment speed. More real-time payment systems are popping up in Europe, with the number of systems tripling in the past four years.

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SWIFT Successfully Tests Instant Cross-Border Payments

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SWIFT announced Sunday (October 21) successful test results of its new instant cross-border payments proof of concept, involving banks in China, Singapore, Thailand and Australia. In effect, this is already a live real-time cross-border payment, SWIFT said in the press release.

Corcentric On Myth-Busting Electronic B2B Payments Adoption

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The payments industry has been talking about the digitization of B2B transactions for years, maybe decades, with not much of a nudge of that needle. “The initial thrust of electronic B2B payments was myopically viewed from the buyer’s perspective,” Clark told Webster.

Why Real-Time Payments Need Real-Time Trust

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It can be a moment of anxiety, worry and mistrust: that moment when a digital payment is sent into what was once called the ether. The goal is to basically introduce a solid foundation of proactive action to these commercial payments instead of simply falling back into reactive responses.