“As consumers adopt real-time payments in the coming years, payments providers are expecting businesses large and small to follow suit. News released Monday indicates preparations are already under way. Canadian processor Everlink Payments Services Inc. and Fintainium Inc., a Jacksonville, Fla.-based developer of cloud-based technologies for financial institutions, have agreed to develop real-time capability for transfers between businesses and from businesses to consumers.”

“Early Warning Services, LLC, the network operator behind Zelle®, today announced that during the past 12 months (September 2019 – September 2020), the Zelle Network processed more than one billion payment transactions. In Q3 2020, the Zelle Network processed 323 million transactions, totaling $84 billion in money sent — an increase of 17% and 18% quarter-over-quarter, respectively.”

“Sibos has been a breeding ground for new ideas and visions in the world of payments for years. If you look at last year, you saw a positive vibe around Instant Payments, but there were also some concerns about whether banks were adapting quickly enough to the new digital era.Now Sibos 2020 started, member of Worldline’s Executive Committee Michael Steinbach gives his vision on Instant Payments, the digital development of the banking sector and the global battle for payment solutions between the US, China and Europe.”

“As a growing number of consumers have embraced digital payments during the COVID-19 pandemic, financial institutions have added or enhanced person-to-person (P2P) payment capabilities, with more than 200 banks and credit unions going live on the Zelle Network® via Fiserv to date in 2020.”

“For most of us, the pandemic has upended our way of life. It has changed our working styles and environments. It has altered shopping habits. It has driven a surge in touchless and remote transactions. And while all of these are colossal shifts for the American people, the one even larger change stemming from the pandemic lies in the transition to faster payments.”

“Real-time payments are gaining momentum in the United States, but research released Monday indicates the U.S. market remains a laggard. The total value of so-called instant payments will reach $18 trillion in 2025, but the U.S. share of that market will total just 8%, or $1.4 trillion, according to a forecast by Juniper Research.  The Basingstoke, United Kingdom-based firm defines an “instant payment” as one in which the transaction is complete within 10 seconds.”

“MetaBank,® N.A. (“Meta”) today announced the expansion of its faster payments platform to include processors Finix and TabaPay . Meta is committed to leading the enablement of payments technology, and this announcement marks its latest expansion within the faster payments space. With this addition of Finix and TabaPay, Meta is giving its partners numerous options to process faster payments through Mastercard Send and Visa Direct. Each of these options can help improve payment experiences, strengthen business relationships and streamline operations.”

“EVO Payments, Inc. (NASDAQ: EVOP) (“EVO”), a leading global provider of payment technology integrations and acquiring solutions, today announced the launch of EVO Express Deposit enabled by Visa Direct, Visa’s real-time push payments platform. Through EVO’s Visa Direct solution provider, and the integration of Visa Direct, EVO Express Deposit enables qualified merchants in the U.S. to receive funds for card transactions in real-time.”

“The Federal Reserve Board on Thursday announced details of the FedNow℠ Service, a new 24x7x365 interbank settlement service with clearing functionality to support instant payments in the United States. The features and functionality described in the accompanying Federal Register notice represent a key milestone in the FedNow Service’s development and are based on input received from the public in response to the Board’s 2019 request for comment. The Federal Reserve will take a phased approach to service implementation. The first release of the FedNow Service will provide core clearing and settlement features that will support market needs and help banks manage the transition to a 24x7x365 service.”

“Whether deserved or not, the payments industry has had a hard time shaking its decades-long stigma that any type of forward step will be long and drawn out. But contrary to that trend, the U.S. Faster Payments Council — created through a recommendation from the Faster Payments Task Force — has proved to be effective in its mission of promoting faster payments and pushing the industry through potential roadblocks with information and data for merchants, corporations and banks to better understand how systems work and what they offer.”

“Accenture has been selected to work with the Bank of England to renew the Real-Time Gross Settlement (RTGS) service to support resilience and innovation in payments and settlements in the U.K.  In this role, Accenture will be the technology delivery partner for the RTGS Renewal Programme, working with the Bank of England to deliver this critical national payments infrastructure. The RTGS Renewal Programme includes building and integrating the new RTGS platform and improving data access and providing a service that will support the financial services sector and their customers in the years to come.”

“MetaBank® today announced it has joined the U.S. Faster Payments Council (“FPC”). MetaBank, N.A. (“Meta”) is committed to leading the enablement of payments technology, and this announcement marks its latest expansion within the faster payments space. Meta is a federally chartered bank, a subsidiary of Meta Financial Group, Inc.® and a leader in providing innovative financial solutions to consumers and businesses throughout the country. The Faster Payments Council is an inclusive membership organization devoted to advancing faster payments in the United States.”

“Alacriti , a SaaS-based fintech company specializing in payments, today announced that it has joined the U.S. Faster Payments Council (FPC), a membership organization dedicated to advancing faster payments in the United States. Alacriti brings its deep expertise in banking and payments and experience working with various financial institutions to help guide the market in simplifying the transition to faster payments.”