Instant payments may look free to the person tapping “send,” but somebody must pay to keep the money moving around the clock. News surrounding India’s instant payments framework shows some of the economics underpinning faster funds. Beginning Oct. 15, a 0.4% merchant discount rate (MDR)...
A payment moving from one country to another passes through banks, clearing systems and payment networks that operate under different rules. The recipient information used to check the payment and bolster security can be just as fragmented. Payee verification connects some of those far-flung systems....
Bank of America’s Cross-Border Real-Time Payments solution has completed its first transaction, the bank said in a Tuesday (Sept. 29) press release emailed to PYMNTS. The solution enabled Brazilian bank Bradesco to complete a pilot transaction in which a payment was initiated through Bradesco’s existing...
The Federal Reserve is taking its instant payment system global. Federal Reserve Financial Services said Wednesday (Sept. 23) that the FedNow® Service will soon support cross-border transactions. The move is the first major step beyond U.S. borders for FedNow since it launched in July 2023....
October 05, 2026
Moving money faster has compressed the time banks have to answer a more complicated question: How should this particular payment move? A transaction can arrive through online or mobile banking, an API or, potentially, an artificial intelligence agent. The bank may have several ways to send the money, including batch and instant rails. Before choosing […]
September 24, 2026
Millennials’ financial lives are shaping how they receive, spend and manage money, creating new opportunities for payment providers to make transactions faster and more useful. About 7 in 10 millennials...
September 08, 2026
Real-time payments are giving banks another reason to confront technology they have spent years working around. The PYMNTS Intelligence report “From Adoption to Execution: How FIs Are Turning Real-Time Payments...
September 02, 2026
Real-time payments in Asia-Pacific are entering a new phase. After years of building domestic instant payment rails, countries across the region are now connecting those systems across borders, expanding their...
September 29, 2026
Bank of America’s Cross-Border Real-Time Payments solution has completed its first transaction, the bank said in a Tuesday (Sept. 29) press release emailed to PYMNTS. The solution enabled Brazilian bank Bradesco to complete a pilot transaction in which a payment was initiated through Bradesco’s existing Swift connectivity and delivered in Hong Kong dollars to a […]
September 24, 2026
The Federal Reserve is taking its instant payment system global. Federal Reserve Financial Services said Wednesday (Sept. 23) that the FedNow® Service will soon support cross-border transactions. The move is...
September 24, 2026
The European Central Bank (ECB) will assess the feasibility of interlinking the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform with Brazil’s Pix instant payment system, the central bank said in...
August 19, 2026
Mexico is launching a campaign to steer citizens from cash to digital payments, the Financial Times reported Wednesday (Aug. 19). Part of the effort involves an attempt to rejuvenate Codi,...
