New developments could speed up instant payments in the U.S. Last week, the Federal Reserve announced it would give some competition to The Clearing House’s Real Time Payments (RTP) with its own real-time payments service, FedNow. This is a significant advance, considering it will be...
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It’s now official. The Fed plans to build its own instant clearing and settlement rails. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing...
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To reinforce the Federal Reserve’s authority to create a real-time payments system and mandate that the Fed brings about its own process, two U.S. representatives and two U.S. senators have introduced the Payment Modernization Act of 2019. The legislation was brought forward by Congresswoman Ayanna Pressley (D-MA),...
Truckers haul 71 percent of America’s freight tonnage, keeping retailers supplied and in business — but not without challenges. Slim margins, emergency needs and mounting daily expenses can halt day-to-day operations — and retail shipments — as truckers can wait more than a month for...
While commercial real-time payments became available in the U.S. back in 2017, they haven’t yet hit ubiquity. By the end of 2018, the RTP network reached a little more than half of U.S. accounts. But this has been the domain of larger financial institutions, especially...
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More than 50 of the world’s largest companies have already started using a new service that enhances payment flows, allowing a single view of transactions across multi-banked corporates. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
