Faster payments

The Fed’s got some big decisions to make on faster payments


For the last two years, the central bank has allowed the private sector to drive a process aimed at modernizing the nation's payments system. Now the Fed will have to determine what its own role will be.


Fed panel puts faster payments on three-year track


An influential task force established by the central bank envisions a future in which the U.S. has multiple real-time payment systems, and in a new report it lays out a series of actions that will be necessary to stitch them together.


Vantiv/Worldpay merger; ‘Tough spell’ for banks


American card processor has a deal for its British counterpart; after passing Fed tests, banks still stressed by weak lending, low interest rates.


Small banks deemed ill-prepared for coming payments revolution


Though they face an array of competitive threats — from digital currencies to peer-to-peer payment apps — the vast majority of community banks do not have a payments strategy, according to a recent survey.


Better isn’t good enough in improving global payments system


Payments professionals have done too little to leverage transformational changes in technology to improve the overall client experience.


BBVA taps blockchain to make international payments in seconds


Using a program built by Ripple, BBVA has transferred about 50 euro-denominated payments to Mexico from Spain in seconds. Such transactions normally take up to four days to clear, the bank said.


Data wars, financial stress and faster payments


Author Rachel Schneider on income volatility problems; Travis Dulaney talks instant payments; American Banker's Mary Wisniewski discusses the OCC's fintech charter, data aggregation battles, and alternative data.


The future of faster payments is collaboration


The industry has made great strides in faster payments over the past year. Even more cooperation among stakeholders will be needed in the year ahead.


P-to-P payments don’t need pizza emojis to succeed


Many banks and money transmitters have built successful billion-dollar businesses around P-to-P payments without social sharing and letting users send emojis.


The anti-Venmo? Banks' p-to-p payment product eschews social ‘sharing’


When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.