OnDemand Video Module

Introduction

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.

Topics Covered

• FedNow (Federal Reserve);
• Real-Time Payments (The Clearing House);
• Zelle (Early Warning Services);
• Card “Push” Payments (Visa and Mastercard);
• Faster Payments Service (UK) SEPA Instant Credit Transfer (EU), and New Payments Platform (AU).

Learning Objective

To understand the real-time payment phenomenon and the status of the various initiatives competing to bring such systems to the United States.