Qatar Islamic Bank (QIB) has added a “request payment” feature to its instant payment service. The new feature, announced Monday (July 22), lets customers request a payment from a registered user on its Fawran — Arabic for “instantly” — service through the bank’s mobile app. “As part of QIB’s...
Brazil’s central bank has delayed the launch of a recurring payments feature that will be added to its Pix instant payment system. The feature, Automatic Pix, now has a launch date of June 16, the Banco Central do Brasil said in a Monday (July 22) note....
Anniversaries are a time to reflect, evaluate and to anticipate what lies ahead. And so it is with the FedNow® Service, which celebrates a year in the marketplace on July 20. As of now, about 900 banks have signed on to the new federal payments...
OpenPayd says its clients can now make transactions via Pix, Brazil’s real-time payment network. The new offering, announced by the embedded finance infrastructure provider last week, comes as Brazil is emerging as the world’s most digitally engaged countries, thanks in part to the popularity of...
The RTP network set records in terms of both the number of transactions and the value of payments it enabled in the second quarter. The instant payments system operated by The Clearing House allowed consumers and businesses to send 82 million transactions valued at $55...
Real-time payments continue to advance globally. Banks, FinTechs, corporates and governments are all pursuing initiatives to accelerate payments for their citizens and customers. Real-Time Payments in the United States In the U.S., digital banking platform Ibanera has incorporated the Federal Reserve’s FedNow® Service to offer...
The Bank for International Settlements (BIS) wants to expand the world’s largest instant payment system (IPS). BIS announced Monday (July 1), that it had completed the blueprint for the third phase of its Project Nexus, aimed at connecting the instant payment systems of several central...
Overpayment disbursements — rebates, rewards, refunds, etc. — may not come to mind when considering a consumers’ overall cash flow, but, when these overpayments are issued, consumers want them quickly. Only about 71% of consumers receive some form of refund disbursements, with the average payout...
Cash flow is the lifeblood of any business. That’s why many of the most exciting innovations within payments are aimed at helping businesses build better balance sheets and support healthy growth. And with the advent of instant payments, the first new domestic payments rail in...