Jon Budd, CEO of Juniper Payments, a PSCU company, said instant payments, over the long term, will see a blossoming of use cases and demand from financial institutions’ corporate and consumer clients. As it stands now, only about 3% of financial institutions have signed on...
Ruben Salazar, senior vice president and global head of Visa Direct, told Karen Webster that the transition from traditional, ACH transactions toward faster payments is underway — but is not without its frictions. More than 100 countries have launched, or are in the process of...
Instant payments have been available across the payments landscape for years. But what will it take for it to scale enough and successfully challenge the traditional payment methods most end-users are accustomed to? “Education is going to be key for all the players in the...
Irfan Ahmad, managing director and head of U.S. payments GTS at Bank of America, said instant payments will get a lift from some of the most basic, proactive approaches from businesses and financial institutions. “As simple as it might seem, education and awareness are still...
Nothing is harder to break than an established habit. But even the most entrenched behaviors often shift or evolve. Just look at the movement of money, which has undergone many transmutations throughout its long history. Now, the landscape of digital payments is undergoing a new...
Can instant payments transform transactions from waiting games to a real-time revolution? “There’s a certain expectation that instant payments means instant gratification,” Shaunt Sarkissian, founder and CEO at AI-ID, tells PYMNTS for our series: “What’s Next in Payments – Instant Payments: What will Turbocharge Instant Payments Growth in...
Andy McHale, senior director of product and market strategy at Spreedly, told PYMNTS that the future looks bright for faster payments here in the United States — and globally. Instant options, he said — during a conversation held as part of the “What’s Next in...
The Federal Reserve says 331 financial institutions (FIs) are employing the FedNow® Service, its real-time payments system. The service launched in July with 35 participants, and is expected to continue growing in 2024, the central bank said in a Thursday (Dec. 14) news release. “These are still early days...
The manufacturing sector is undergoing a significant transformation in its payment practices, with a growing emphasis on real-time payments. In fact, instant payments have emerged as the leading method for business-to-business (B2B) transactions in the sector, with over 99% of manufacturers already utilizing real-time payments...
