Real-time payment systems continue to see strong usage worldwide. One of the most significant developments is the European Council’s new rule to enable instant payments across the European Union and European Economic Area. Under this regulation, instant credit transfers must arrive in recipients’ accounts within...
Checkbook and Visa have come together in a new collaboration aimed at improving the availability of instant payments for businesses, institutions and individuals across the country. This partnership builds on previous collaborations between the two companies, with Checkbook having participated in Visa’s Fintech Fast Track program in 2021 and their Virtual...
Small and medium-sized businesses (SMBs) heavily rely on ad hoc payments to sustain their cash flow. According to “How Instant Ad Hoc Payments Drive SMB Success,” a PYMNTS Intelligence and Ingo Payments collaboration, 65% of SMBs’ total accounts receivable volume is made up of ad...
OpenPayd has partnered with TrueLayer to enhance the instant payment solutions it offers its clients. By leveraging TrueLayer’s open banking payment network throughout the United Kingdom and Europe, OpenPayd will enable instant account-to-account (A2A) payments for the users of its global payments and banking-as-a-service (BaaS) platform, the companies...
Digital transformation in the European Union got a big boost Wednesday (Feb. 7) when the EU Parliament adopted sweeping regulations aimed at improving the accessibility and utility of instant, or real-time, payments for businesses as well as consumers. First introduced late in 2022, the regulations...
Real-time payments have continued their growth in 2024 so far, with several developments unfolding in various countries around the globe. Angola, for one, has taken its initial dive into the real-time payments space a step further. Having launched the first phase of its 24/7 Real-Time...
Innovation begets further innovation. And the emergence and adoption of real-time payment rails represent a significant advancement in the U.S. payment infrastructure, transforming the way financial transactions occur and benefiting both financial institutions and end users. With speed, security, and 24/7 availability, the potential for...
As the new year begins, the global demand for faster, streamlined transactions continues to fuel the expansion of real-time payments worldwide. Countries are employing diverse approaches to developing, deploying and refining their instant payment systems to meet consumer needs. Some nations, led by central banks...
Across the ever-changing payments landscape, the demand for faster transactions has become increasingly prominent. But before organizations can offer, or accept, faster payments, they need to choose the right partner to do so. “Whether you’re going to build the pieces [for faster payment infrastructure] yourself,...
