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

Banks Risk Market Share Loss Without Instant Payment Options

Banks Risk Market Share Loss Without Instant Payment Options
Banks Risk Market Share Loss Without Instant Payment Options
July 07, 2025  |  Real-Time Payments

While real-time networks like The Clearing House’s RTP® network have surpassed 1 billion transactions, a critical gap persists. The PYMNTS Intelligence report “The Real-Time Leap:...

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The Clearing House and Comerica Expand RTP Use Cases to ‘On Behalf Of’ Use Cases
The Clearing House and Comerica Expand RTP Use Cases to ‘On Behalf Of’ Use Cases
July 02, 2025  |  Real-Time Payments

Watch more: TCH, Comerica Unlock More RTP Network Use Cases Under New Rules The Clearing House (TCH) debuted the RTP® network seven years ago and...

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Canada’s New Real-Time Rails Get Bank of America’s Attention
Canada’s New Real-Time Rails Get Bank of America’s Attention
June 25, 2025  |  Real-Time Payments

Watch more: Bank of America Equips Canadian Businesses for Real-Time Treasury Canada’s payments landscape is being recast at high speed, and the once-predictable routines of...

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Tensec Raises $12 Million to Promote Real-Time X-Border Payments
Tensec Raises $12 Million to Promote Real-Time X-Border Payments
June 23, 2025  |  Cross-border Payments

Cross-border payments FinTech Tensec raised $12 million in new funding. The financing will help the company provide payments and financial services for companies in the...

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73% of Businesses Still Use Paper to Process and Pay Suppliers
73% of Businesses Still Use Paper to Process and Pay Suppliers
June 23, 2025  |  B2B Payments

The digital transformation sweeping consumer finance is now reshaping the landscape of B2B payments, urging financial institutions and corporate clients alike to abandon antiquated methods...

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WEX Corporate Payments Chief Says Virtual Cards Adoption Needs a Strategy Refresh
WEX Corporate Payments Chief Says Virtual Cards Adoption Needs a Strategy Refresh
June 18, 2025  |  Commercial Payments

For years, B2B payments innovation has focused on driving forward the shift from paper checks to digital platforms. But this transition has been both a...

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Mastercard and Thailand’s NITMX Team to Promote Real-Time Payments
Mastercard and Thailand’s NITMX Team to Promote Real-Time Payments
June 17, 2025  |  Partnerships

Mastercard says it is expanding its relationship with National ITMX (NITMX), the Thailand-based developer and service provider of electronic payments. This effort, the company announced...

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Visa and eTip Team to Help Hospitality Workers Get Tipped Faster
Visa and eTip Team to Help Hospitality Workers Get Tipped Faster
June 16, 2025  |  Real-Time Payments

Visa has teamed with eTip, a digital tipping platform for the hospitality and service industries. The collaboration is designed to help deliver funds directly to...

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