Throughout the coronavirus pandemic, banks have driven “unprecedented speed and efficiency” in delivering COVID-19 relief, including the CARES Act Economic Impact Payments and Paycheck Protection Program forgivable loans, ABA said today.
Browsing: Faster payments
The products and services community banks are most likely to launch in the next 12 months.
The Clearing House today announced an increase in the general transaction value limit for payments made on the Real-Time Payments Network.
Now that the famed Apple Card has been in the market for nearly 10 months, what can we learn from Apple’s foray into the banking—or more specifically, the credit card space?
In a move supported by ABA, the Federal Reserve today finalized new operating hours and procedures for the National Settlement Service and Fedwire Funds Service to facilitate adoption of a third same-day ACH processing and settlement window.
Nonbanks should not expect direct access to FedNow, the 24/7/365 payments system the Federal Reserve is developing, according to a top staffer.
As the Federal Reserve moves ahead with its plan to develop the FedNow real-time payments settlement service, the American Bankers Association noted in a comment letter today that “FedNow can contribute to a better, faster and safer payment system if implemented correctly.”
As the Federal Reserve moves ahead with the creation of the FedNow real-time payments service, interoperability with existing systems will be critical to ensuring consumer choice, according to an op-ed in American Banker today.
As the Federal Reserve develops its own faster payments system, it must focus on ensuring interoperability between the existing RTP Network, rthe American Bankers Association said in a statement for the record submitted ahead of a Senate Banking Committee hearing today.