Faster payments

Visa CEO Kelly breaks with big banks on need for faster payments


Banks and governments around the world have invested in systems that seek to instantly transfer money between accounts, moves that could put pressure on the sprawling debit-card business at the world’s largest payments network. But Visa Inc. Chief Executive Officer Al Kelly isn’t too worried.


Fed should step aside on real-time payments


The private sector will be able to provide more efficient and innovative technologies for the industry.


JPMorgan, Microsoft strike blockchain partnership


The bank is hoping the venture will encourage more companies to use Quorum, the Ethereum-based blockchain it built five years ago.


Wells in denial, faster-payments backtrack, delinquency uptick: Top stories of the week


Wells Fargo and the denial stage of recovery; community bankers alarmed after big banks backtrack on faster-payments pricing; credit card, auto loan delinquencies hit seven-year high; and more from this week's most-read stories.


Fed entry into real-time payments would do more harm than good


Arguments that the central bank should develop its own system for faster payments ignore current market realities, argues The Clearing House, which has developed its own network.


Community bankers alarmed after big banks backtrack on faster-payments pricing


In 2016, a big-bank consortium said that it would charge the same prices to all institutions, regardless of their size. But now the group has added a large caveat to that pledge.


Are global regulators gunning for big tech?


Randal Quarles, a senior Fed official and chair of the Financial Stability Board, sparked debate with a speech about the risks and rewards of companies like Amazon, Facebook and Apple entering the financial system.


Peace offering made to small financial institutions on fast payments


The Clearing House announced moves to attract community banks and credit unions to its real-time payments system. Smaller depositories have generally been reluctant to sign up with what is seen as a large-bank effort.


Fed pumps the brakes on Nacha plan for faster Same-Day ACH


After more than two years of successful operation in delivering Same-Day ACH payments, Nacha's request to add a third processing window has been denied by the Federal Reserve, which says it has to obtain public comment on the concept.


'Why does a check take as long to clear today as it did in 1982?'


The slow U.S. adoption of real-time payments hurts half of Americans who live paycheck to paycheck, says Aaron Klein, a fellow at the Brookings Institution.