The service lets corporate clients send payment requests directly to the bank’s retail customers—helping it strengthen client relationships and opening the way for other transaction use cases, like B2B payments.

Faster payments, which enable the quick settlement of transactions, are attracting greater interest from US financial institutions, businesses, and consumers, creating new challenges and opportunities for payments incumbents.

Top 10 countries for real-time payments

B2B, C2C, and B2C payments all stand to gain from shorter settlement times, which offer greater financial flexibility and control. Faster payments’ speed also provides valuable transparency for firms, which benefit from the certainty of immediate payment.

EBA Clearing and The Clearing House are working with Swift to speed up and lower the cost of cross-border payments.

The pandemic accelerated payments industry digitization across the entire landscape, as merchants turned to ecommerce to keep doors open, consumers eschewed cash in favor of electronic and contactless payments, and payments technology providers rapidly developed and launched new solutions to keep up.

Ria Money Transfer and Wise each forged global payment partnerships, and Singapore and Malaysia linked their payment systems.

The partnership lets JPMorgan increase revenues and processing volume through Alibaba’s vast business—helping the bank further build out its wholesale payments unit.

Blockchain is attracting enormous interest on the back of surging cryptocurrency valuations and increasingly high-profile payment integrations. But as a real payment currency, blockchain-based cryptocurrency still must overcome many hurdles before it can truly disrupt the space.

To simplify authentication, biometric data from phones can automate sign-ins. 5G’s higher bandwidth can also increase the security measures to encrypt payments. Moreover, the rise of 5G-enabled fintech solutions will put more pressure for real-time payments beyond TCH, so institutions should also consider how to bring the advantage of real-time payments to consumers.

The Pittsburgh-headquartered bank is partnering with DailyPay and The Clearing House to help the fintech facilitate its real-time payments offering to a wider base, per PR Newswire.

However, almost two-thirds (65%) of US C-suite healthcare leaders reported lacking a real-time view of the care journey and next steps for moving patients along, per a Lumeon survey fielded by Sage Growth Partners in May and June 2021.

Comparatively, 31% of non-minority-owned US small businesses were unable to afford rent in the same time period. More like this:. Report: The Rise of Real-Time Payments. Article: Zelle’s small-business transaction volume surged 180% in Q1, aiding overall business growth. Article: Retailers may want to upgrade their stores as consumers prepare to boost brick-and-mortar spending this spring.

The Reflect card rewards on-time payments with extended 0% APR in a bid to pull consumers away from solutions like BNPL.

Till introduced four new features that help tenants pay their rent with more ease and rewards them for on-time payments so landlords can get paid faster with fewer missed payments—making Till’s platform more useful.

On today's episode, we discuss what brand new forecasts the forecasting team cooked up in Q2, including social media buyers and buy now, pay later service users. We then talk about the 2021 NBA finals ratings, a landmark ruling that lets brands work with NCAA athletes, and why OOH ad prices are on the rise. Tune in to the discussion with eMarketer forecasting analyst Nazmul Islam and director of forecasting at Insider Intelligence Oscar Orozco.