Cross River Bank and Plaid say they’ve joined FedNow® Service to widen customers’ instant payment access. The collaboration, announced Monday (Sept. 18), also makes Cross River among the first financial institutions to bring an interoperable offering to its customers providing routing options via either the FedNow Service or...
ACI Worldwide, a provider of real-time payments software, has launched an end-to-end digital central infrastructure solution designed for central banks and financial institutions. The new digital central infrastructure is a single ISO 20022 native solution that combines digital overlay services with ACI Central Infrastructure, the...
In recent years, the global financial landscape has witnessed a significant rise in real-time payments, a payment method that, among other things, allows for immediate transfer of money from a customer’s account to a merchant’s account. Link Money CEO Eric Shoykhet said in an interview with PYMNTS that...
Real-time payments schemes are proliferating around the globe. Getting them to work in sync and breaking down the silos that exist between countries will be key to helping faster payments scale across a variety of commercial and consumer-facing use cases, a trio of payments experts...
The RTP network topped 1 million payments on a single day: Sept. 1. This accomplishment highlights the growing adoption of real-time payments and the benefits they bring to financial institutions and their customers, The Clearing House, which operates the instant payments system, said in a Wednesday...
The value proposition of real-time payments is undeniable: payments initiated, cleared and completed in just seconds — at any time. In other words, payees get immediate access to their funds. Naturally, the revolutionary payment method continues to gain swift momentum worldwide as more countries introduce...
Payment solutions firm VSoft says it has integrated its platform with real-time payments firm Pidgin. That integration, the company announced Monday (Aug. 28), will allow VSoft’s core processing solution Wings to facilitate real-time transaction processing through multiple payment rails, including the Federal Reserve’s new FedNow Service and The Clearing House’s Real-Time Payments Network. ...
The manufacturing sector is quickly recognizing the value of real-time payments. Most manufacturers now deem real-time payments vital for business, with 61% holding this view for making payments and 65% for receiving them. PYMNTS’ latest study reveals that small manufacturers are leading the charge away...
For banks eyeing what they must do to get on board the FedNow Service to meet customers’ expectations for faster payments and integrate with the first new payments rails in the United States in four decades — the challenges are numerous. Form3 Chief Operating Officer Eimear O’Connor said in an...
