faster payments

Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from the three working days that transfers take using the long-established BACS system, to typically a few seconds.

Source: en.wikipedia.org

Visa Direct to Enable Delivery of Money Within 1 Minute
Visa Direct to Enable Delivery of Money Within 1 Minute
December 12, 2024  |  Faster Payments

Visa will begin enabling faster delivery of money with Visa Direct, making funds transferred to U.S. bank accounts available within one minute. This capability will...

READ MORE >
New Report: Instant Digital Disbursements Cut Through Government Red Tape
New Report: Instant Digital Disbursements Cut Through Government Red Tape
December 09, 2024  |  Money Mobility

What would a fully digital government payment system look like — and why does it matter? For citizens, government payments often mean waiting: waiting for...

READ MORE >
Swift: 1 Million ISO 20022-Formatted Messages Being Sent Daily
Swift: 1 Million ISO 20022-Formatted Messages Being Sent Daily
December 06, 2024  |  Payment Methods

With one year to go before the deadline to move to ISO 20022 for cross-border payments and reporting plus (CBPR+), more than 1 million ISO 20022-formatted...

READ MORE >
Update: Real-Time Payments Reach New Milestones Across the US and Beyond
Update: Real-Time Payments Reach New Milestones Across the US and Beyond
December 06, 2024  |  Real-Time Payments

Real-time payments took center stage in 2024, with groundbreaking milestones reshaping how money moves worldwide. From the United States expanding its payment networks to new...

READ MORE >
Solving for the Hundred-Trillion-Dollar B2B Payments Acceptance Problem
Solving for the Hundred-Trillion-Dollar B2B Payments Acceptance Problem
December 05, 2024  |  B2B Payments

In the B2B world, where deal sizes can soar into the millions, financial relationships are anything but straightforward. This makes B2B payments acceptance a complex...

READ MORE >
Higher Instant Payment Limits Test B2B ACH Volume
Higher Instant Payment Limits Test B2B ACH Volume
December 05, 2024  |  B2B Payments

For all transactions — but especially for high-value commercial payments — speed is always a consideration, alongside the costs of those transactions, as well as...

READ MORE >
Adyen and Intuit Team to Speed Payments for UK Small Businesses
Adyen and Intuit Team to Speed Payments for UK Small Businesses
December 04, 2024  |  B2B Payments

QuickBooks maker Intuit has launched a collaboration with Dutch payments firm Adyen. The partnership is designed to help small and medium-sized businesses (SMB) in the U.K. more...

READ MORE >
The Clearing House Spikes Individual Transaction Limit to $10 Million
The Clearing House Spikes Individual Transaction Limit to $10 Million
December 04, 2024  |  Real-Time Payments

The Clearing House plans to raise its instant payment network’s individual transaction limit. Starting next year, the RTP® Network will allow individual transactions of up...

READ MORE >
Nuvei Launches Blockchain-Based Solution for Cross-Border B2B Payments
Nuvei Launches Blockchain-Based Solution for Cross-Border B2B Payments
December 04, 2024  |  B2B Payments

Nuvei has launched a blockchain-based payment solution for merchants across Latin America, saying it enables these businesses to make faster cross-border B2B payments and settlements....

READ MORE >