faster payments

Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from the three working days that transfers take using the long-established BACS system, to typically a few seconds.

(source: en.wikipedia.org)

Cognizant and FICO to Launch Real-Time Payments Fraud Prevention Solution
Cognizant and FICO to Launch Real-Time Payments Fraud Prevention Solution
April 17, 2024  |  Security & Fraud

Cognizant and FICO plan to launch a cloud-based real-time payments fraud prevention solution designed for North American banks and other payment service providers. The joint offering would...

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MUFG Bank and Crédit Agricole Complete First ISO 20022-Aligned Payment on CHIPS
MUFG Bank and Crédit Agricole Complete First ISO 20022-Aligned Payment on CHIPS
April 17, 2024  |  Payment Methods

The first payment in the ISO 20022 message format on the CHIPS network was completed by Japanese financial institution MUFG Bank and European financial institution Crédit Agricole Corporate & Investment Bank, The...

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NCR Voyix Warns on Instant Payments Adoption Delays
NCR Voyix Warns on Instant Payments Adoption Delays
April 17, 2024  |  Real-Time Payments

Real-time payments have enjoyed optional status up to this point. But they are quickly becoming an essential competitive factor for financial institutions (FIs), especially in...

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Instant Payments Fuel Tipping’s Digital Evolution
Instant Payments Fuel Tipping’s Digital Evolution
April 16, 2024  |  Payment Methods

From restaurants to rideshare platforms and hospitality, the rise of digital tipping is reshaping how consumers express gratitude for service. This shift toward digital gratuity...

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Bank of America: 1Q Zelle Volumes Surge 26% to $106 Billion
Bank of America: 1Q Zelle Volumes Surge 26% to $106 Billion
April 16, 2024  |  Earnings

Bank of America’s first quarter results took note of continued use of digital channels in banking — and for payments, too. The bank recorded 3.4...

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46% of Instant Payment Skeptics Want Bank Info Hidden
46% of Instant Payment Skeptics Want Bank Info Hidden
April 16, 2024  |  Faster Payments

Whether it’s employee earnings, Social Security payments, tax refunds, insurance claim payouts, investment distributions or something else, most U.S. consumers now receive some type of...

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WSFS Bank Launches ‘Early Pay’ on Paychecks, Government Benefits
WSFS Bank Launches ‘Early Pay’ on Paychecks, Government Benefits
April 15, 2024  |  Disbursements

Wilmington, Delaware-based WSFS Bank has launched a new offering that lets customers receive eligible direct deposits from employers and recurring government benefits up to two days early....

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Solving the Buy-Build-Partner Equation For Cross-Border Payments
Solving the Buy-Build-Partner Equation For Cross-Border Payments
April 15, 2024  |  Cross-border Payments

It’s a big world, but ongoing cross-border payments advances are helping make it smaller.  That’s because, with the recent news that HighRadius has launched a B2B payments platform designed...

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FIs Look to Advanced Technologies to Protect Faster Payments
FIs Look to Advanced Technologies to Protect Faster Payments
April 12, 2024  |  Money Mobility

Disbursements are a critical part of the modern economy, with more than 170 million consumers in the United States receiving at least one within the...

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