Reported plans to launch Apple Pay and its credit card in the country could support growth plans—if it beats out stiff competition.

Payment service providers competing to serve small and medium-sized businesses have a new opportunity to win them over with cutting-edge payment, cash flow, capital, and marketing tools.

Digitization has reduced consumers’ remittances costs worldwide, reshaping the competitive battlefield. Money transfer operators must follow new playbooks to monetize this $800 billion market.

Adding RTP-powered Instant Payouts to its Transfer product helps position Plaid for FedNow’s July launch.

Consumer device and behavior trends are affecting payment providers’ strategies across retail, P2P, B2B, disbursement, and cross-border channels. Here’s what that means for the payments ecosystem.

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.

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.

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.

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.