Capital One will be the fifth bank to go live with realtime peer-to-peer payments on the clearXchange network, it was announced this morning. Capital One 360 customers can currently receive realtime payments from other banks in the network, which now includes Bank of America, JPMorgan Chase, U.S. Bank, and, most recently,Read More
Post Tagged with: "realtime payments"
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
How quickly does a customer get access to funds he has deposited? It’s a complicated a question — and that’s the whole problem. From the Ford Model T (1908) to the Tesla Model S (2012), not much has changed with the ways banks handle checks. They are still sent to The Clearing House,Read More
TD Bank, the nation’s 10th-largest bank by assets, has chosen Fiserv‘s Popmoney money movement service for its retail banking customers. The news was announced by the bank Monday. It’s about time TD added a person-to-person (P2P) payments option. P2P payments are table stakes today. The TD win adds another largeRead More
Simple launched realtime person-to-person (P2P) payments today, the company announced in a blogpost. The functionality currently only works online, but will be rolled out to the company’s iOS and Android platforms soon. The service is called Instant and is marketed as a way to settle up with friends or spouses. SimpleRead More
The Federal Reserve wants to bankers’ views on the payments system in the US to set future policy. If only bankers would tell them. The Fed initiated a 21-question survey, part of the “Payment System Improvement – Public Consultation Paper,” here for industry leaders to weigh in on how payments inRead More