Faster payments

Fed looks to public to help define role on faster payments


For more than a year, the central bank has been under pressure to speed the development of a real-time payment system. But it faces tough questions about what its own role should be.


Fed will have the say on key parts of OCC’s fintech charter


The Office of the Comptroller of the Currency has been taking the lead on a federal license for fintech firms, but the central bank will decide if such companies can access the payments system and other benefits.


Real-time corporate payments not ready for prime time


The quest for fast payments is advancing on the consumer side, but most banks are said to be undecided about a host of issues tied to speeding up transactions between businesses.


Behind the Fed's effort to squeeze out payments fraud


The central bank is taking a lead role in trying to combat the longstanding problem. A broad study by the Fed aims to measure the extent of payments fraud and to foster more collaboration in thwarting it.


Fed launches study of causes and effects of payments fraud


The announcement comes after a Federal Reserve Board task force issued a report in September that said it would further examine options for modernizing the U.S. payments system.


BBVA-backed fintech launches global bank account


Denizen is designed for expats and migrants to receive money and make payments without international transfer fees or currency exchanges.


MoneyGram pilot is important real-world test for Ripple's payments plan


The San Francisco startup behind the cryptocurrency XRP claims it can send money around the world faster, cheaper and with greater transparency.


As insurers drown in paper, banks see a digital opportunity


Some firms are investing in technology to help insurance clients shift to paperless payment processing.


Citi adds speed and markets as cross-border battle heats up


Banks and fintechs are competing heavily to modernize cross-border payments, and Citi is using its upgraded treasury unit add speed to its own international cross-border digital payments capabilities in more than 60 countries.


Federal Reserve taps Boston Fed COO to head payments task force


In the new role, Kenneth Montgomery will lead the Fed’s efforts to reduce fraud risk and improve the security and resiliency of the U.S. payments system