Many U.S. financial institutions are contemplating when to move forward with fast payments, or whether they should add additional networks. These are important questions and once a decision is made to move forward, new questions and choices begin to unfold – especially around technology solutions and providers. This webinar will demystify these choices.
The card companies have recently launched expanded capabilities to “push” funds to debit cards and credit cards. These new capabilities repurpose the card network settlement systems to support real-time payments cardholders and open up new segments of the industry for card-enabled payments. This session introduces the concept and describes the similarities and differences between the main alternatives.
Real-time retail payments (RTRP), or “instant payments” systems developed in recent years, primarily enable faster payments within a single country, while payment processing across national borders largely continues to be a patchwork of agreements.
The session is designed to provide insights on developments in cross-border payments. It examines the latest initiatives to link multi-country fast payments systems, as well as ambitious efforts to ultimately progress towards creating a global system through regional payment hubs.
Domestic fast payments are in varying stages of development around the world. Several countries have fast payment systems that have been operational for several years, while others, such as the US, are still relatively early in their fast payments journey. What trends drive fast payment adoption and what motivates central banks and private entities alike to build real-time infrastructure and overlays?
This session is designed to provide an overview of fast payment systems, exploring both commonalities and unique attributes of domestic systems around the world. It also highlights notable examples from specific countries where fast payment systems saw rapid adoption, and the factors that contributed to their success.
Payments using the push transaction model are on the rise around the world. Instead of the sellers pulling money from buyers, buyers initiate payment to sellers. This model has lower risk and is increasingly as convenient to buyers as the older pull model. But how will billers, suppliers, and other payees request payment? Enter the Request-to-Pay, or RtP, which is a new paradigm for presenting a data-rich, digital payment request to the payor. This session introduces the RtP concept, shows the variations emerging in key markets, and predicts where this important trend might lead.
Overlay are a new category of payments industry services that provide the missing functionality between what the underlying payment rails provide and what real-world use cases demand. Overlay services provide, for example, missing P2P functionality on top of real-time payment rails. They add the missing QR Code support needed for commerce. And the hold the potential to streamline B2B payments through value-add directory structures and aliasing capabilities. This session introduces the concept of overlay services and explore some of the examples we see all over the world.
New instant transfer systems are starting to help consumers and businesses move money in real-time between bank accounts. This session provides an orientation to the quickly changing world of real-time payments and takes the pulse of the various initiatives in the U.S. market –– especially the recent announcement that the U.S. Federal Reserve will be providing one such system. To provide context on the U.S. market, the session also provides a high-level summary of fast payment developments in key markets.
