Faster payments

Heavy demand for fast payments in small banks' trial run


A California startup and a century-old Missouri bank, which began using The ClearingHouse's real-time payments network this summer, say businesses have embraced the technology to pay suppliers and gig-economy workers and quickly close real estate deals.


Using payments tech to punch above your weight


Nano Banc's president, Mark Troncale sits down with PaymentsSource's senior editor Kate Fitzgerald to discuss how the fintech decided to be amongst the first wave of small-to-midsize banks adopting The Clearing House's real-time payments solution. So how did it go?


The partners that can help Fed speed launch of real-time payments


The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.


Swift to focus on transaction management to fuel faster payments


After two years of helping banks connect globally to domestic faster payments rails, Swift is planning to expand on that concept.


Postal banking is a solution, but to which problem?


With the USPS emerging as an election-year flashpoint, postal banking is an idea that could gain steam. But a number of proposals are out there, and they have wildly varying implications for financial inclusion.


Will Citi snafu bring fresh scrutiny to custodial banks?


Citigroup’s $900 million payment blunder in a usually sleepy part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.


FedNow? More like FedLate.


The Fed's faster payments platform may well roll out in three or four years, but by then it will already be outdated.


OCC's Brooks questions need for government-owned payment systems


Appearing to support decentralized systems, the acting comptroller of the currency said on a podcast that "the ultimate public ownership of the payment rails is when you have a network, like the internet, of interconnected institutions and computers."


Contactless payments will miss the boat without 'in time' funding


Digital wallets arguably reached a tipping point this spring when contactless payments jumped 40% in response to concerns that cash and payment terminals were helping to spread the coronavirus, Vidya Peters of Marqeta writes.


Refi throttling, PPP fraud, employee monitoring: Top stories of the week


Mortgage lenders impose steep pricing adjustments for cash-out refinancing; bankers fear massive borrower fraud in the Paycheck Protection Program; some worry the coronavirus is giving banks an excuse to spy on employees; and more from this week's most-read stories.