faster payments

Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from the three working days that transfers take using the long-established BACS system, to typically a few seconds.

(source: en.wikipedia.org)

Nuvei and Visa Team to Offer Visa Direct in Colombia
Nuvei and Visa Team to Offer Visa Direct in Colombia
June 03, 2024  |  Partnerships

Nuvei says it is the first global payments provider offering Visa Direct in Colombia, via a new partnership with Visa. “Offering instant payouts through Visa Direct supports our strategy of...

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Instant Payments Drive Profits for the Small Restaurants That Use Them
Instant Payments Drive Profits for the Small Restaurants That Use Them
May 31, 2024  |  Faster Payments

Forty percent of the independent mom-and-pop restaurants in the U.S. that generate $10 million or less annually now use instant payment rails as their primary...

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Fiserv GM on the Pot of Gold at the End of the ISO Rainbow
Fiserv GM on the Pot of Gold at the End of the ISO Rainbow
May 31, 2024  |  Banking

As payments shift from traditional and manual workflows to automated, digital ones, everything will change. And that’s a good thing for global commerce. “Across the...

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Credit Union Innovation Hinges on Payment Speed and Security
Credit Union Innovation Hinges on Payment Speed and Security
May 30, 2024  |  Credit Unions

In an era of rapid technological advancement, there remain certain immutable aspects — particularly for payments. When it comes to the way businesses and consumers...

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70% of Restaurant SMBs Say Convenience Is Top Instant Payments Benefit
70% of Restaurant SMBs Say Convenience Is Top Instant Payments Benefit
May 29, 2024  |  Faster Payments

While instant payments might seem like an innovation that only big companies would embrace, these types of expenditures are gaining traction with many mom-and-pop eateries....

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Faster Settlements May Add Pressure on FIs to Automate
Faster Settlements May Add Pressure on FIs to Automate
May 29, 2024  |  B2B Payments

What a difference a day can make. The T+1 implementation for capital markets went live in the U.S., Canada and Mexico on Tuesday (May 28),...

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Swiipr Raises $7.6 Million to Digitize Payouts for Flight Disruptions
Swiipr Raises $7.6 Million to Digitize Payouts for Flight Disruptions
May 28, 2024  |  Investments

British travel PayTech firm Swiipr raised $7.6 million in new funding. The company, launched four years ago, lets airlines digitize payouts for flight disruptions, working...

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80% of Truckers Cite Convenience as Instant Payments Preference
80% of Truckers Cite Convenience as Instant Payments Preference
May 28, 2024  |  Faster Payments

Who doesn’t like getting paid instantly? According to PYMNTS Intelligence data, roughly a third of all U.S. consumers now select instant payouts when they are...

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Pay-by-Bank Solutions Signal New Era of Payments
Pay-by-Bank Solutions Signal New Era of Payments
May 28, 2024  |  Payments Innovation

Solutions in search of problems rarely scale — something especially true when it comes to payments, where the focus remains on enhancing user experience and efficiency. With...

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