"The U.S. Faster Payments Council (FPC), a membership organization devoted to advancing faster payments in the United States, today released a new Faster Payments Interoperability white paper developed by the FPC Network Committee. Interoperability in a faster payment system can help achieve seamless processing – both sending and receiving – of payment instructions across a variety of payment solutions. Available in the FPC’s Faster Payments Knowledge Center, the white paper explores different models that can connect systems together to achieve payments interoperability such as point of origination, network to network, or with an intermediary, and how settlement could work in those models. Settlement is one of the defining characteristics of a payment system because settlement is how the transfer of value from one party to another occurs."
Expansion Under COVID-19 The Remote Commerce domain is home to e-commerce, many mobile payments, and the venerable mail-order, telephone-order method (MOTO). The growth in transaction volume in this domain has been nothing short of phenomenal accounting for a: 56 percent of overall U.S. retail sales growth in 2019 47 percent increase in U.S. sales forecasted […]