Businesses are actively using instant payments. Nearly two-thirds of U.S. businesses (66%) are likely to use instant payments if offered by their primary financial institution, according to a Federal Reserve Financial Services survey.
A new study from the U.S. Faster Payments Council sheds light on the various factors shaping the adoption of instant payments.
A new recommendations report encourages the industry to consider creating a solution or establishing an independent information exchange framework for a holistic view of scam intelligence from existing sources across payment rails.
The E-remittance Exchange Pilot confirmed that an exchange framework supports the sending, receiving and automation of electronic remittance (e-remittance) information, which moves the industry closer to achieving straight-through processing.
A Federal Reserve-led industry work group developed the ScamClassifier(SM) model, a voluntary scam classification structure to categorize different scam types more consistently.
Use of digital, faster and instant payment services is on the rise among businesses and consumers according to new surveys from Federal Reserve Financial Services. A robust 86% of businesses and 74% of consumers said they used faster or instant payments in the past 12 months, and most (74% of …
Leaders from across the industry gathered at this annual event for insightful discussions on global payments, instant payments, innovation, digital currency, security and risk management, and more.
The Business Payments Coalition with support from the Federal Reserve, has launched an E-remittance Exchange Pilot. Pilot participants are testing an electronic delivery network – known as an exchange framework ecosystem – that will enable all kinds of businesses to exchange electronic remittance information.
To better understand and mitigate scams, the Federal Reserve’s scams definition and classification work group has published an operational definition of the term.
Participants of the Business Payments Coalition’s E-invoice Exchange Market Pilot recently formed the Digital Business Networks Alliance as the legal entity overseeing a new electronic exchange network.