Six years after its launch, the RTP Network surpassed 500 million real-time payments on Saturday, network operator The Clearing House Payments Co. reported Monday. The announcement at least temporarily shines the spotlight back onto the current leader in real-time payments in the wake of last week’s much-anticipated launch of the …

That’s a good thing, though it’s important to understand the potential drawbacks of instant payments. By 2025, the majority of financial transactions will be settled in real time. There’s good reason for this prediction. Merchants and customers are demanding faster ways to pay or collect funds, and larger companies, as …

Mastercard Inc., working with Subaio, which offers a subscription management service for banks, launched a subscription control service to make it easier for consumers to identify and unsubscribe from recurring payments via banks’ apps and online access. The move comes after the Federal Trade Commission proposed a rule that would require sellers …

Merchant losses from online payment fraud globally will total more than $362 billion in the years from 2023 to 2028, according to a forecast from Juniper Research. So-called swipe fees on credit card transactions will increase Fourth of July costs for U.S. consumers by more than $500 million, according to the Merchants Payments …

ACI Worldwide Inc. has launched its Instant Pay real-time payment solution in Europe and the United Kingdom. The move comes against the backdrop of a regulatory push in Europe mandating that financial institutions across the Single Euro Payments Area (SEPA) countries in Europe offer instant payments under the SEPA Instant …

Worldpay, a unit of processor FIS Inc., has partnered with open-banking gateway and real-time payments network Volt to enable merchants to accept account-to-account payments from consumers. Through the use of application programming interfaces Volt will enable Worldpay merchants to initiate account-to-account (A2A) payments using open-banking technology. Open banking allows banks …

Some 80% of U.S. consumers say they have used a peer-to-peer payment service at least once, while two-thirds report having used a mobile wallet in the past year, according to the 2023 State of Payments report from card-issuing platform Marqeta Inc. The study surveyed 4,091 consumers in February, including 2,013 in the …

The fraud that threatens real-time payments is quicker—and demands quicker action. Today’s world of instant gratification is about to take another big leap forward in July when a second real-time payments network debuts with the launch of FedNow, the Federal Reserve’s instant-payment network. Announced as a concept in 2019, two …

Real-time payments can bring much more flexibility—and potential profit—to businesses of all sizes. Following Covid’s chaos, that’s good news. Supply-chain chaos has forced many companies to adopt new strategies to keep goods moving and meet demands for fast funds. The financial-services industry is no exception to the growing demand for …

Fiserv Inc. will discontinue its longstanding Popmoney peer-to-peer payments service on June 30, the processing giant said, following notices being posted by participating banks. The move comes as the processing giant shifts its priorities to supporting the bank-owned Zelle network, according to a Fiserv spokesperson. “Due to the tremendous success …