Instant payments may look free to the person tapping “send,” but somebody must pay to keep the money moving around the clock. News surrounding India’s instant payments framework shows some of the economics underpinning faster funds. Beginning Oct. 15, a 0.4% merchant discount rate (MDR)...
Bank of America’s Cross-Border Real-Time Payments solution has completed its first transaction, the bank said in a Tuesday (Sept. 29) press release emailed to PYMNTS. The solution enabled Brazilian bank Bradesco to complete a pilot transaction in which a payment was initiated through Bradesco’s existing...
The Federal Reserve is taking its instant payment system global. Federal Reserve Financial Services said Wednesday (Sept. 23) that the FedNow® Service will soon support cross-border transactions. The move is the first major step beyond U.S. borders for FedNow since it launched in July 2023....
The European Central Bank (ECB) will assess the feasibility of interlinking the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform with Brazil’s Pix instant payment system, the central bank said in a Thursday (Sept. 24) press release. The ECB’s governing council approved the launch of the...
Asia-Pacific’s real-time payment systems are moving beyond domestic transfers as countries look to connect national infrastructure across borders. The September 2026 PYMNTS Intelligence Real-Time Payments World Map, produced in collaboration with The Clearing House, shows that work taking two forms. Five countries are pursuing a...
Money can trade in seconds, yet investors may still wait days to receive it. That gap can make a fast digital platform feel surprisingly slow at the exact moment a customer wants access to cash. “The Power of Now: Moving Money at the Speed of...
Real-time payments are giving banks another reason to confront technology they have spent years working around. The PYMNTS Intelligence report “From Adoption to Execution: How FIs Are Turning Real-Time Payments Into Competitive Advantage” is the August edition of the “Real-Time Payments Tracker” and a collaboration...
Real-time payments in Asia-Pacific are entering a new phase. After years of building domestic instant payment rails, countries across the region are now connecting those systems across borders, expanding their commercial uses and laying the groundwork for transactions that run without a person at each...
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...