Real-time Payments

September, 2020

• 10 September

  TCH Says Its Real Time Payments Network Can Potentially Reach 70% of U.S. Accounts

  

  The years-long effort to bring real-time payments to the United States picked up steam on Thursday with an announcement from The Clearing House Payments Co. LLC that 70% of U.S. deposit accounts can now access real-time capability via agreements between TCH and third-party processors. “What we’re talking about here is …
• 3 September

  Walmart Joins Paymentus Network and other Digital Transactions News briefs from 9/3/20

  

  Walmart Inc. has joined Paymentus Corp.‘s Instant Payment Network for bills paid in Walmart stores. Other users of the network are Amazon.com Inc. and PayPal Holdings Inc.Modern Treasury, a startup payments-technology provider, said clients reconciled more than $100 million on its platform in August, with volume growing at a compound monthly …

August, 2020

• 18 August

  Pandemic Emergencies Could Be Moving Businesses to Push for Real-Time Payments

  

  With consumers and many businesses wary of cash and checks in the midst of the coronavirus pandemic, businesses may be more inclined than ever to pivot to real-time payments, according to research released Tuesday. Out of 252 corporate executives surveyed in June, a slim 9% said they had no plans …
• 18 August

  Walmart’s Online Sales Soar 97% and other Digital Transactions News briefs from 8/18/20

  

  Walmart Inc. reported its U.S. e-commerce sales increased 97% year-over-year in the June quarter.Card-issuing platform Marqeta Inc. has released Marqeta 3D Secure to help issuers combat online fraud and meet regulatory requirements in certain markets. 3D Secure is an authentication protocol developed by the major card networks.Cardknox Development Inc. announced its payments gateway is …
• 6 August

  FedNow Looks to Pilots Starting Next Year And Sticks to Its 2023 Or 2024 Launch Plan

  

  While the Covid-19 pandemic has raised the issue of speeding stimulus payments and other relief to consumers and businesses, The Federal Reserve system is staying with its planned 2023 or 2024 launch date for its FedNow real-time payment service, officials said Thursday in an update that comes almost exactly one …

July, 2020

• 29 July

  Five Banks Link to TCH RTP Network and other Digital Transactions News briefs from 7/29/20

  

  Five banks linked to The Clearing House Payments Co.’s Real Time Payments (RTP) network on a single day. The five—Dogwood State Bank, First Fidelity Bank, National Bank of Texas, Royal Bank, and Signature Bank—joined through Jack Henry & Associates Inc.’s JHA PayCenter. A Jack Henry executive said the company expects to “onboard …
• 28 July

  Mastercard Agrees to Nets Concessions and other Digital Transactions News briefs from 7/28/20

  

  Mastercard Inc. is offering some concessions in its bid to win approval from European Union competition authorities for its planned $3.2 billion acquisition of major parts of Denmark-based payment processor Nets Group, Reuters reported.California’s Department of Motor Vehicles selected payments provider Forte Payment Systems to oversee the DMV’s e-check verification process.Digital-banking technology provider Tyfone Inc. has …
• 22 July

  Small Businesses Continue to Rebound and other Digital Transactions News briefs from 7/22/20

  

  Sales at small businesses included in the CardFlight Small Business Impact Report for July 22 experienced a 2.6% increase in sales week-over-week and are 25% above the baseline week of March 2-8. Food and drink sales were up 4.5% for the week and retail sales increased 4% week-over-week.Wells Fargo & Co. launched My …
• 16 July

  EMVCo’s New Travel Authentication Guidelines and other Digital Transactions News briefs from 7/16/20

  

  Standards body EMVCo has developed guidelines on how the travel industry can provide data to payment card issuers to better verify the authenticity of an e-commerce transaction using current authentication processes. The guidelines are an extension of EMVCo’s 3-D Secure messaging protocol.The number of data breaches in the United States dropped by approximately one-third in the …
• 2 July

  BNY Mellon Works With Early Warning to Enable Real-Time Account Validation for Real-Time Payments

  

  With real-time payments comes real-time risk, and now banks and their technology vendors are attacking the problem of how to make sure funds moving in the blink of an eye are flowing to the proper accounts. The latest move comes from banking power BNY Mellon, which on Thursday said it …