Slowly but surely, the waits are disappearing in banking. Mobile banking means you don’t have to wait on line at a branch (not that there would be a line these days if you went there). Accounts can be opened within minutes, and loans are approved more quickly. Perhaps most crucially, paymentsRead More
Post Tagged with: "faster payments"
Realtime has gone prime time with the addition of Visa and MasterCard to the clearXchange payments network. Today, Early Warning, which owns clearXchange, expanded its realtime payments network by adding both the Mastercard Send and Visa Direct platforms, a move that will allow nearly every U.S. debit card holder to send andRead More
It looks like this faster payments thing is going to happen after all. When the Federal Reserve floated the idea of faster payments in the U.S. in 2013, it seemed like a distant dream, The Fed itself announced a 10-year time horizon. But over the past week, proposals have beenRead More
Should consumers and businesses pay for realtime payments or not? This difference of opinion is apparently creating some “discord” in the clearXchange network between the first two active members: U.S. Bank and Bank of America. Speaking to investors this morning, U.S. Bank CEO Richard K. Davis spoke on the importance ofRead More
Get ready for the launch of a faster-payments initiative from the world’s payments kingpin, SWIFT. Founded in Belgium in 1973, the Society for Worldwide Interbank Financial Telecommunication, usually known as SWIFT, is launching a faster payments initiative next week, and SWIFT’s Innotribe startup initiative will be a big part of it.Read More
It’s now easier and faster than ever to hook into the ubiquitous Automated Clearing House network, thanks to Dwolla. With the new version of its bank transfer API, released yesterday, Dwolla may not be able to speed up ACH settlement times, but everything else about the experience should be faster for impatientRead More
Peter Drucker once famously stated “Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.” With this in mind, yet nonetheless undaunted, Carlisle & Gallagher Consulting Group decided to go for a proverbial drive downRead More
Not so long ago bankers feared that fintech insurgents like Dwolla wanted to turn FIs into “dumb pipes” moving money around while the fintechs would own the customer experience. Payments platform Dwolla, for one, has moved past wanting to own the customer. “We’re happy to be the pipes,” CEO BenRead More
Representatives of the 24 banks that collectively own The Clearing House Payments Co., the oldest banking and payments association in the United States, will meet in New York next week to discuss faster payments, according to a representative of one of the member banks. The meeting next week, which isRead More
The U.S. economy remains sluggish, and the cost of funds is set to rise. What can help? Perhaps faster payments, suggests Gene Neyer, senior vice president of global payments with Fundtech.