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...
In recent years, instant, P2P payments have seen a surge in adoption, emerging as a popular method for consumers to receive funds and make personal transactions and purchases. At the same time, smaller businesses have gravitated toward instant payments because they appreciate the speed, convenience...
If any U.S. consumers are wondering why their packages are late, the answer might be because there simply aren’t enough truck drivers manning 18-wheelers and delivering goods. According to the American Journal of Transportation (AJOT), right now there is a national shortage of truckers in...
Small- to medium-sized businesses (SMBs) in the transportation sector use instant payments more widely than other payment options. PYMNTS Intelligence finds that in the last year, 74% of these businesses surveyed sent instant payments. In fact, 48% of these SMBs identify an instant option as...
More small- to medium-sized businesses (SMBs) operating in the healthcare sector issued payments via real-time methodologies last year than via traditional methods like credit cards and checks. The PYMNTS Intelligence report “Small Business Real-Time Payments Barometer: Healthcare Edition” found that 38% of healthcare provider SMBs...
Citi introduced Real-Time Funding (RTF), part of its real-time treasury solutions for corporate customers. “Citi RTF enables the automated movement of funds between cross-border accounts based on predefined rules set by the client, helping them ensure that cash is available when and where it’s needed,”...
Life as a freelancer is not for the faint of heart. Freelancing often requires constant hustling, as these workers generally look for new projects even before current projects are completed. And concerns about getting paid add to the aggravation. After all, people who work on...