Watch more: Need to Know With Jim Colassano of The Clearing House For banks, connecting to real-time payments was the entry point. Making those payments useful requires considerably more work inside the institution, from back-office processing and account posting to deciding when a payment should...
The unexpected advantage of instant transactions for B2B firms is not faster payment but removing settlement float from payment terms. Real-time settlement does not merely accelerate money. It makes time negotiable, particularly across B2B. If a supplier must be paid Friday, a company should not...
Business-account retention has traditionally depended on a web of services that become embedded in a company’s financial operations. Real-time payments (RTP) are giving banks another opportunity to deepen those ties, particularly when instant transactions become part of the treasury and payment processes businesses use every...
Mexico is launching a campaign to steer citizens from cash to digital payments, the Financial Times reported Wednesday (Aug. 19). Part of the effort involves an attempt to rejuvenate Codi, a real-time payments platform similar to Brazil’s widely used Pix, the report said. While past...
In a fragmented payments environment, how intelligently infrastructure decides what should happen to every transaction is becoming a key definition of payments performance and success. The August edition of PYMNTS Intelligence’s Optimizing Payments Tracker® Series, a collaboration with PayPal Open, found that authorization, routing, cost...
Real-time payments company Sionic has launched its instant bank pay service through Microsoft Marketplace. With this integration, Sionic can offer real-time, bank-to-bank payments at the point of sale, the company said in a Wednesday (Aug. 12) news release. “Sixteen years ago, we set out to...
Instant payments are no longer simply a payments product. They are becoming commercial banking infrastructure. That’s the case for financial institutions and their clients who are savvy to what real-time infrastructure can offer their corporate finance function. The PYMNTS Intelligence report “The Bankers’ Playbook: The...
Real-time payments are no longer waiting for a killer app. From Pix becoming an everyday payment method in Brazil to RTP and FedNow moving deeper into U.S. business payments, checkout and cross-border use cases, the rails are increasingly in place. South America shows what happens...
Watch more: Need to Know With The Clearing House’s Cheryl Gurz After eight years of industry outreach and infrastructure investment, instant payments are becoming familiar enough that businesses increasingly understand the product. “We are successful in awareness,” Cheryl Gurz, vice president of Real Time Payments...