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Eye on Fintech; GDPR’s Blessing in Disguise; HSBC Adds Real-Time Payments
HSBC Adds Real-Time Payments and other Digital Transactions News briefs from 11/19/19
HSBC Bank USA N.A. has made a real-time payments service, via The Clearing House Payments Co. LLC, available to its commercial and institutional clients. HSBC said these clients have been able to receive real-time payments since July and now can send them. HSBC expects to roll out the service to its consumer …
Read More »Real-Time Niches; Part 2: The Fed and Real-Time Payments; New York Sues Dunkin’ Over Breach
As Real-Time Payments Rivalry Heats up, Vendors Eye Market Niches And Mid-Tier Institutions
With The Clearing House Payments Co. operating a real-time payments network and the Federal Reserve planning one for no later than 2024, payments companies are looking at slices of the market for opportunities in instant money movement. And these niche plays aren’t just the province of the country’s biggest banks. …
Read More »COMMENTARY: Here’s Why the Fed Should Stay Out of Real-Time Payments (Part II)
Tech behemoths Google, Amazon, and Apple, goliath retailers Walmart and Target, and PayPal, all support the Federal Reserve providing faster payments via its FedNow service, slated for introduction by 2024. Each of them, however, would howl in protest if Washington proposed competing with their business or helping would-be competitors. Fearing The Clearing …
Read More »First Data’s Place in Fiserv’s Strategy; The Fed and Real-Time Payments; Plus Weekly Recap
COMMENTARY: Here’s Why the Fed Should Stay Out of Real-Time Payments (Part I)
The Fed has amassed enormous—in practice, unaccountable—power, and taken roles natural to government and to the private sector. It’s the central bank, paramount financial-system regulator, and a payments operator. It shouldn’t, however, undertake activities better and naturally performed in the private sphere. The latest example: On its own prerogative, the …
Read More »More Flexibility for PCI; Processors’ GDPR Partner Pitfalls; Real-Time Payments Catch on
Real-Time Payments Catch on and other Digital Transactions News briefs from 9/19/19
A survey by processor Fidelity National Information Services Inc. (FIS) found that 54 countries now have active real-time payment programs, up from 40 in 2018 and nearly four times as many as 2014.Cross River Bank, which specializes in services for technology companies, has applied to link to The Clearing House Payments Co.’s Real Time …
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