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

This Week in B2B: Simplicity, Automation and Blockchain (Yes, Blockchain)
This Week in B2B: Simplicity, Automation and Blockchain (Yes, Blockchain)
November 21, 2024  |  News

The contemporary B2B landscape is being reshaped by a seismic shift toward automation and simplification. Companies are ditching clunky, manual processes in favor of sleek,...

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Citi Sees Blockchain at Center of Borderless Commerce Initiative
Citi Sees Blockchain at Center of Borderless Commerce Initiative
November 20, 2024  |  Blockchain

If the payments landscape had a holy grail, it would be seamless cross-border payments. Unlike domestic payments, which are shifting toward a real-time, 24/7 model,...

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From Approval to Bank Account: Why Instant Disbursements Are Critical for Lenders
From Approval to Bank Account: Why Instant Disbursements Are Critical for Lenders
November 18, 2024  |  Money Mobility

How many potential borrowers are lost to cumbersome loan processes and slow disbursements? Today’s consumers expect the speed and convenience they find in other digital...

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Innovation Powers Disaster Recovery as Insurers Move Claims and Payout Digital
Innovation Powers Disaster Recovery as Insurers Move Claims and Payout Digital
November 13, 2024  |  Insurance

Innovation is born in times of struggle. And in the aftermath of Hurricanes Helene and Milton, with insurers across the southeastern United States seeing a...

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RTP Network Begins November With Record 1.46 Million Instant Payment Transactions
RTP Network Begins November With Record 1.46 Million Instant Payment Transactions
November 12, 2024  |  Real-Time Payments

The Clearing House’s RTP® network, a real-time payments rail in the United States, is winding down the year on the back of two milestones. The...

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One-Third of SMBs Still Don’t Get a Choice in How They’re Paid
One-Third of SMBs Still Don’t Get a Choice in How They’re Paid
November 12, 2024  |  SMBs

You pays your money, you makes your choice. That old idiom does not apply to many small- to medium-sized businesses (SMBs), however. The PYMNTS Intelligence...

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Brazil’s PicPay Begins Offering Instant Payments via Meta and Microsoft
Brazil’s PicPay Begins Offering Instant Payments via Meta and Microsoft
November 11, 2024  |  Faster Payments

Digital bank PicPay is offering access to Brazil’s Pix instant payment system via WhatsApp. The new artificial intelligence (AI)-powered offering, announced Monday (Nov. 11), is made possible by...

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Killing Tip Taxes May Give Momentum to Instant Digital Payouts
Killing Tip Taxes May Give Momentum to Instant Digital Payouts
November 11, 2024  |  Disbursements

Headed into last week’s presidential election, both Donald Trump and Kamala Harris endorsed eliminating taxes on tips. Coming into office in January 2025, Trump, now...

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Ant International and OCBC Partner on Tokenized Cross-Border Payments
Ant International and OCBC Partner on Tokenized Cross-Border Payments
November 06, 2024  |  Cross-border Payments

FinTech Ant International and Singapore bank OCBC are collaborating to enhance cross-border fund settlements. The goal of the partnership is to explore innovations in tokenized...

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