Fast Payments Innovation PaymentsPost Regulation Technology

Payments Post #13: At the Intersection of Tech, Regs, and Business Partnership

This month, Cici Northup joins regular contributor Justin Pituch to recap positive news in the form of fast payments growth, new fraud mitigation strategies, and evolution in cross-border transfers. All reflect, to varying degrees, the unique dynamic in the payments industry created by the intersection of technology, regulation, and new business partnerships.

Tags: Fintech

Companies

Chase Adds a Pay-Per-Use Real-Time Payments Option for SMBs

Digital Transactions

“Chase introduced a suite of digital products it says will help small businesses improve their cash flow and payment processing. Among the services are the ability to choose a payment speed, such as standard automated clearing house, same-day ACH, or real-time payments, for sending a payment; the ability to accept contactless payments via an iPhone; […]

Tags: Chase

Industry

SMBs Are Increasingly Opting for Real-Time Payments, Leaving Credit Cards Behind as Their Preferred Choice

Tearsheet

“The RTP payments network reached a milestone by processing over 1 million payments in a single day on September 1, 2023. EWA and gig worker payments emerged as the network’s primary drivers, surpassing account-to-account (A2A) transfers.”

Companies

Global Real-Time Payments Growth “Sustainable” As New Use Cases Push Transactions to Record Highs – ACI Worldwide Report

Business Wire

“Global real-time payments growth has reached sustainable levels with 266.2 billion real-time payments transactions recorded in 2023—a year-over-year (YoY) growth of 42.2%—according to the 2024 Prime Time for Real-Time report, published by ACI Worldwide , in partnership with GlobalData.”

Tags: ACI Worldwide

Global

Nium and Thredd Expand Partnership to Power B2B Travel Payments in APAC

PR Newswire

“Nium, the global leader in real-time cross-border payments, announced the expansion of its partnership with Thredd, a leading global payments processor, to issue virtual cards in the Asia Pacific (APAC) region.”

Tags: APAC

Companies

Volt Rolls Rolls Out PayTo Payments Platform for Australian Retail Customers

Australian Cyber Security Magazine

“Real-time payments platform Volt has launched its secure PayTo-based, one-click solution for its retail customers in Australia. PayTo is an instant digital payment system from the New Payments Platform that enables businesses to initiate real-time payments from their customers’ bank accounts.”

Tags: Volt

Companies

Cognizant and FICO Partner to Help Banks Prevent Real-Time Payments Fraud

PR Newswire

“Cognizant announced a planned collaboration with FICO, to launch a cloud-based real-time payment fraud prevention solution powered by FICO® Falcon® Fraud Manager.”

Tags: Cognizant

Global

Canada’s Real-Time Rail Program Resumes With Renewed Momentum

Payments Canada

“Payments Canada announced a path forward for the Real-Time Rail (RTR), Canada’s fastest payment system…The path forward for the RTR includes new partners IBM Canada and CGI, along with Interac, to support the delivery and operation of the RTR.”

Industry

How Can Banks Stop Fraud in a World of Instant Payments?

Economy Middle East

“Instant payments are processed in real-time, 24 hours a day, 365 days a year, with funds made available within seconds…Moreover, they will require re-engineering of their entire processes, including fraud detection, sanctions screening and anti-money laundering checks to comply with strict SLA terms.”

Data Fast Payments Fraud Healthcare PaymentsPost Risk Management

Payments Post #12: Lessons from Change

In this month's Payments Post, we want to draw your attention to several recent fraud incidents that underscore the criticality of effective risk management to your business and the safety and soundness of the payments industry.

Tags: Fintech

Companies

Verituity Joins Forces With Mastercard to Accelerate Secure Domestic and Cross-Border Payouts

Verituity

“Verituity announced the integration of Mastercard Move, Mastercard’s portfolio of domestic and international money transfer solutions, into its payments platform, enabling near real-time payouts for commercial banks and payers.”

Tags: Mastercard Verituity

Cross-border Payments Glenbrook Payments Education Key Concepts Risk Stakeholders

Episode 236 - How to Make Money in Payments with Russ Jones, Glenbrook Partners

In this episode, Glenbrook's Russ Jones joins Yvette to talk through 8 simple ideas about how you make money in payments.

Fast Payments Instant Payments Mastercard Vocalink

Episode 235 - Taking Stock in Fast Payments with Gregor Dobbie, CEO of TFPA and former CEO of Vocalink

Vocalink’s origin story, which began in 1998, spurred payments modernization efforts worldwide. For this episode, we sat down with Gregor Dobbie, CEO of TFPA and former CEO of Vocalink, to discuss what we can learn from Vocalink’s journey and what the future holds for core payment systems.

Industry

Zelis® and Availity® Announce Strategic Alliance to Streamline Administrative Workflows and Advance Healthcare Payments for Shared Clients

Yahoo Finance

“Zelis, a leading provider of healthcare financial solutions, and Availity, the nation’s largest real-time health information network, announced a strategic alliance to streamline the end-to-end process between healthcare payers and providers, from administrative workflows through payments.”

Global

Payshap Turns One: A Year of Innovation, Growth, and Real-Time Payment Evolution in South Africa

BankservAfrica

“An increasing number of South Africans are embracing PayShap, South Africa’s first interbank, interoperable, real-time payments service, which experienced strong growth in its first year, in line with the service’s fast-expanding community of participating banks and new users.”

Tags: South Africa