Real-Time Payments

Real-Time Payments
How One Banker Sees the FedNow and RTP® Faster Payments Landscape Evolving
July 25, 2023

The flagship real-time payment system in the U.S., The Clearing House’s RTP® network, reaches 65% of all demand deposit accounts in the country, according to The Clearing House, and any depository institution can connect to the RTP network through more than 20 technology providers. Experts...

Real-Time Payments
RTP® and FedNow’s Real Problem: Businesses Aren’t Asking for It
July 21, 2023

And then there were two. The launch of FedNow on Thursday (July 20) brings the tally of real-time payments networks to a duopoly in the U.S. — where the Fed’s new instant-payments infrastructure debuts alongside The Clearing House’s RTP® real-time platform. But the availability of...

Real-Time Payments
Financial Institutions and Service Providers Welcome Launch of FedNow
July 20, 2023

Financial institutions and payment service providers hit the ground running when the Federal Reserve launched the FedNow Service on Thursday (July 20). Many had new offerings ready to go using the nationwide payments infrastructure, which was the first to be implemented in about 40 years. At the time of...

Real-Time Payments
FedNow’s Future and What the Triple Clock Theory Says About It
July 17, 2023

Four days from today, the Federal Reserve’s instant account-to-account payments rail will go live. FedNow’s launch on July 20 will bring the number of real-time rails in the U.S. to two. The first real-time rail to go live was RTP®, operated by The Clearing House,...

Real-Time Payments
FinTech Partnerships Surge as Insurance Firms Adopt Real-Time Disbursements
July 11, 2023

Insurance firms are increasingly embracing real-time payments for business-to-business (B2B) transactions, viewing them as essential to success. More than two-thirds plan to increase the use of real-time payments for inbound transactions, citing speed as the driving factor. PYMNTS’ latest research shows that insurance firms are...

Real-Time Payments
From Portugal to the Philippines, Real-Time Payments Increase Their Global Footprint
July 05, 2023

Real-time payments have gained significant traction worldwide, revolutionizing how consumers and businesses conduct financial transactions. Many countries have successfully implemented real-time payment systems to enhance efficiency and meet the growing demands of businesses and consumers. Each country’s implementation may differ significantly regarding infrastructure, technology and...

Real-Time Payments
84% of Real Estate Firms Would Replace Checks With Real-Time Payments
June 29, 2023

Major real estate firms are just about ready to replace time-consuming, old-fashioned methods of sending and receiving money with real-time payments. For PYMNTS’ study “Corporate Changes in B2B Payment Practices: The Future of Real-Time Payments in Real Estate,” created in collaboration with The Clearing House,...

Real-Time Payments
Federal Reserve Reports 57 ‘Early Adopters’ Certified for FedNow Service
June 29, 2023

There will be organizations ready to send and receive transactions when the FedNow Service launches. Fifty-seven early adopter organizations, including both financial institutions (FIs) and service providers, have completed testing and certification, and they are now performing final trial runs, the Federal Reserve said in...

Real-Time Payments
FedNow’s Success Hinges on Getting Enough Banks to Connect — and Use It
June 28, 2023

As the world becomes increasingly digital, the idea of instant gratification has become the norm. From streaming movies to ordering groceries, consumers expect everything to be available at their fingertips 24/7. The payments industry is no exception to this trend, with instant payment solutions poised...