Four years after launching a peer-to-peer payments capability using the clearXchange network, Wells Fargo & Co. is enabling a real-time function for its service. Announced Monday, the enhancement enables Wells customers to send and receive real-time payments with no fee from and to customers of any bank that participates in …
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Following Real-Time Bill Pay, TCH Sees a Follow-Up With Speedier B2B, B2C Payments
When The Clearing House Payments Co. LLC enlisted processor Fidelity National Information Services Inc. (FIS) last fall to help it launch real-time payments in the United States, it wasn’t ready to say when the system would go live. On Monday, TCH answered that question and also cleared up what types …
Read More »Dwolla And BBVA Turn on a Real-Time, Tokenized Payments Service
A real-time payments system featuring tokenized transactions opened to all comers on Wednesday when Houston-based BBVA Compass Bank announced its connection with processor Dwolla Inc. is live for commercial use. “We’ve been in a live environment [with BBVA] for the last two to three weeks with friends and family but …
Read More »Pressure Builds for Faster Payments As The Clearing House Plans for Real-Time Settlement
The effort to bring faster payment settlement to the United States gained momentum this week with an announcement by The Clearing House Payments Co. LLC that it plans to build what it calls a “real-time payment system.” The New York City-based organization, which is owned by the largest financial institutions …
Read More »Fiserv Enters Real-Time P2P Payments Fray with Popmoney Instant Payments
Fiserv Inc. on Wednesday announced it is adding a capability to its Popmoney person-to-person payment service that will let users send money within seconds to intended recipients. The new feature, called Popmoney Instant Payments, relies on debit-network clearing and comes as more and more processors are harnessing these networks …
Read More »FIS Enters Real-Time Person-to-Person Payments Arena with People Pay Service
Fidelity National Information Services Inc. (FIS) on Monday rolled out its entry in the person-to-person payments sweepstakes and, as with other providers in recent months, its service offers real-time settlement. Indeed, People Pay—the name FIS has given its new P2P service—is built on the PayNet network the company introduced …
Read More »Star Pilots Recurring PIN-less Payments, Explores Real-Time Web Debit
Star Networks Inc., which processes more PIN-less debit transactions than any other network, is launching a pilot to test PIN-less debit for recurring payments and is exploring a concept that could extend direct debit of checking accounts to online shopping. The latter concept, says Tom Gandre, senior vice president of …
Read More »RTP Network Surpasses 1 Million Payments Per Day; Viamericas Employs RTP and FedNow for Cash-to-Account Transfers
The RTP network has reached a major milestone, averaging more than 1 million payments per day, The Clearing House Payments Co. LLC says. In addition to crossing this threshold, the RTP network, which TCH launched in 2017 as a real-time payments network, also set a single day record of 1.46 …
Read More »How Soon Will Real Time Payments Be Routine?
Have you been following developments in the world of faster payments? Probably the most exciting subchapter in this saga is the development and deployment of networks that can deliver real-time transactions, sometimes referred to as instant payments. But offering the capability for real-time transfers is one thing. Hanging over the …
Read More »The 10 Most Pressing Issues in E-payments
We know you’re not looking for problems. But they are looking for you. Herewith our annual catalog of the ones causing the most headaches. Each year in the fall, as the grass turns brown and the trees shed their leaves, the editors of Digital Transactions start their deliberations over an …
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