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)

Link Money CEO: Payment Innovations Win on Cost, Not Capability
Link Money CEO: Payment Innovations Win on Cost, Not Capability
October 26, 2023  |  Payments Innovation

Innovations in payments have paved the path to progress throughout history. And while the journey has not been a linear one, it is increasingly becoming...

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J.P. Morgan Payments: ‘Network-Agnostic’ Approach Helps Bring Real-Time Payments to the Masses
J.P. Morgan Payments: ‘Network-Agnostic’ Approach Helps Bring Real-Time Payments to the Masses
October 26, 2023  |  Real-Time Payments

Three months ago, the FedNow® Service launched to much fanfare, heralding the second real-time payments network now live and fully operational in the United States....

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What’s Next in Payments Security: White Hats vs Black Hats, With AI as a Weapon
What’s Next in Payments Security: White Hats vs Black Hats, With AI as a Weapon
October 25, 2023  |  Security & Fraud

Jeff Hallenbeck, head of financial partnerships at Forter, told PYMNTS that as 2024 dawns, artificial intelligence (AI) will be a technological tool increasingly leveraged by...

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The Convenience of Instant Tips Keeps Restaurant Employees Happy
The Convenience of Instant Tips Keeps Restaurant Employees Happy
October 24, 2023  |  Faster Payments

As restaurants look for ways to retain their employees, the convenience of instant tip payouts can go a long way toward driving hospitality worker satisfaction....

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Contactless Transactions Mark ‘What’s Next’ in Payments Innovation
Contactless Transactions Mark ‘What’s Next’ in Payments Innovation
October 24, 2023  |  Credit Unions

The continued rise of contactless payments may be among the most notable payments trends of the year, and it could pave the way for innovations...

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Two Tiers of Payments Innovation Will Shape Industry’s Future
Two Tiers of Payments Innovation Will Shape Industry’s Future
October 24, 2023  |  Payments Innovation

The innovations shaping the payments industry are moving in real time. And increasingly so, too, is money itself. “What we’re seeing from a product perspective...

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Visa, Mastercard Earnings May Spotlight Contactless Payments Momentum
Visa, Mastercard Earnings May Spotlight Contactless Payments Momentum
October 23, 2023  |  Earnings

The payment networks will give insight into consumer spending — and resilience — when they report earnings this week. But they’ll also give indications of...

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US Retailers Drive Instant Payment Adoption
US Retailers Drive Instant Payment Adoption
October 23, 2023  |  Faster Payments

Real-time payments has had a significant impact on the retail industry in the last few years, with the recent launch of FedNow® Service likely to...

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BIS Sees Promise, Challenges in Interlinking Faster Payment Systems
BIS Sees Promise, Challenges in Interlinking Faster Payment Systems
October 23, 2023  |  Faster Payments

Faster payments have the potential to vastly improve cross-border payments, particularly across retail payments and remittances. The Bank for International Settlements (BIS) said in a...

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