The competition between banks and nonbanks is intensifying as customers demand faster, always-available ways to move money. Banks are finding that the FedNow® Service can help them compete more efficiently in a market that rewards speed and reliability. Nick Stanescu, chief FedNow executive, said in...
For years, companies have looked to virtual cards to trim payment delays and prevent fraud. But 2025’s data shows something deeper: virtual cards are no longer just about faster settlements. They’re becoming a cornerstone of trust between buyers and suppliers navigating cash-flow uncertainty. According to...
Payments firm Alacriti has launched an integration with Visa’s real-time money movement platform Visa Direct. This new integration, announced last week, melds Visa Direct with Alacriti’s Orbipay Payments Hub to offer more complete coverage of faster payments. “Visa Direct is an important piece of a modern real-time payments infrastructure because it gives financial institutions...
Instant payments were once a novelty. Just a faster way to move money. Today, they’re a reflex. New data shows that what began as a convenience is becoming an expectation, with consumers not only embracing real-time disbursements but sticking with them long after their first...
PNC has become the latest financial institution to join the FedNow® Service. The bank announced its entry into the Federal Reserve-run service Tuesday (Oct. 21), saying it would allow it to send and receive instant payments around the clock. “PNC Treasury Management has seen firsthand the transformative value immediate...
Watch more: Live Roundtable: AWS and FedNow, Nilesh Dusane and Dan Anthony Instant payments are reshaping how money moves and how financial institutions (FIs) meet customer expectations. For example, the Federal Reserve’s FedNow® Service, launched in 2023, has continued to build momentum. Banks are modernizing...
Consumers and businesses increasingly expect to send and receive money immediately. The latest evidence: The Clearing House (TCH) said Thursday that its Real-Time Payments network, the nation’s largest instant payments system, set a new single-day record on Oct. 3, processing more than 1.8 million transactions...
The Federal Reserve is closing the gap between business hours and real-time money movement. It will just take a while to get it done. The central bank said that it would expand the Fedwire Funds Service and the National Settlement Service (NSS) to operate 22...
Small business owners often see instant payments as the fix for sluggish cash flow. However, the PYMNTS Intelligence report “Immediate Impact: How SMBs Can Benefit From Instant Payments” suggests the technology is deepening a growing divide between digital haves and have-nots. While instant payments adoption...