Real-time Payments

October, 2020

• 12 October

  BMO Adopts TCH’s RTP and other Digital Transactions News briefs from 10/12/20

  

  BMO Financial Group, a unit of Bank of Montreal, announced it has linked to The Clearing House Payments Co. LLC’s Real-Time Payments network, enabling U.S. business clients to receive funds instantly from any sending bank connected to the network.ACI Worldwide Inc. said its Speedpay unit will allow customers of Entergy Services LLC, a …
• 5 October

  Debit Use Rises at Restaurants and other Digital Transactions News briefs from 10/5/20

  

  For the week ending Sept. 27, debit card use was up 4.2% at restaurants, not including fast food, and credit card use was down 16.9% compared to the week ending Sept. 29, 2019, according to the Tracking Transaction Trends report from PSCU, a credit union service organization. Debit card use was …

September, 2020

• 29 September

  Nuvei Makes a Bet on Colorado and other Digital Transactions News briefs from 9/29/20

  

  Nuvei Corp. said it received a sports betting vendor license in Colorado, enabling it to process payments there for regulated sports betting sites and apps.Mastercard Inc. and ACI Worldwide Inc. said they will collaborate to support real-time payments capabilities, initially for central banks, payments networks, financial institutions, and payments providers.To help businesses …
• 28 September

  While Momentum Builds for Real-Time Payments, Research Tags the U.S. Market As a Laggard

  

  Real-time payments are gaining momentum in the United States, but research released Monday indicates the U.S. market remains a laggard. The total value of so-called instant payments will reach $18 trillion in 2025, but the U.S. share of that market will total just 8%, or $1.4 trillion, according to a …
• 23 September

  Third-Party Processors Are Starting to Pay off for TCH As It Seeks to Expand Real-Time Payments

  

  Getting to universal real-time payments in the United States will depend on reaching smaller banking institutions, and on Wednesday The Clearing House Payments Co. LLC may have created the potential to scoop up a significant number of these endpoints via a deal with the major processor FIS Inc. The two …
• 22 September

  POS Credit To Grow 92% and other Digital Transactions News briefs from 9/22/20

  

  Online purchases using installment credit will total $680 billion globally in 2025, up 92% from $353 billion last year, projects Kaleido Intelligence.In related news, point-of-sale installment lender Laybuy launched a partner program to help smaller retailers offer the credit. More than 6,000 merchants offer Laybuy.MetaBank N.A., a unit of Meta Financial Group Inc., …
• 18 September

  EVO’s Turn to Visa Direct Casts a Spotlight on the Potential for Real-Time Merchant Settlement

  

  Real-time payment flows are coming to processor settlements with merchants as Visa Inc. enlarges the market for its Visa Direct push-payment service. The latest development emerged this week with EVO Payments Inc.’s launch of EVO Direct Deposit, a service that relies on Visa Direct to credit U.S. merchant accounts. The …
• 16 September

  VSoft Launches Bread, the Latest Entry in the Real-Time Payments Sweepstakes

  

  VSoft Corp., a provider of digital-banking and payment solutions to financial institutions, on Wednesday launched the Bread network, a peer-to-peer, consumer-to-business, business-to-consumer, and business-to-business payment network.  Bread enables real-time payments between financial institutions within its network. Money sent and money received is kept within the users’ respective financial-institution accounts, as …
• 16 September

  In the Midst of the Pandemic, Fintechs Launch Services to Speed Wages to Workers

  

  As workers struggle with cash-flow issues that in some cases were worsened by the coronavirus pandemic, banks and fintechs are working to get wages into employees’ hands faster—sometimes in real time. Two such developments emerged this week from Square Inc. and Immediate Solutions Inc., a company that specializes in speeding …
• 10 September

  Why Visa And PayPal Are Bringing Real-Time Expediency to Cross-Border Payments

  

  PayPal Holdings Inc. and Visa Inc. are adding cross-border payments to an agreement to route payments made through PayPal’s Instant Transfer Service through the Visa Direct platform. The expanded agreement will allow consumers and small businesses to send or receive money to or from a Visa card account in real-time …