In a recent webinar focused on the evolving US payments sector, we asked our panel of experts to highlight instant payments opportunities and use cases that they believe will be particularly impactful. Here are just a few that caught our attention.
Financial services companies are finally cashing in on cross-border payments. There is more innovation and change than ever in the global payment industry.
A corporation’s cash cycle – which involves systems and processes ranging from procurement to payables, trade financing and reconciliation – is a useful barometer of its financial health.
Real-time payments are here. The Clearing House RTP® network enables consumers and businesses to exchange funds immediately, at any time. This is a once-in-a-generation competitive differentiation opportunity for financial institutions. It’s all about value-added services. There are many strong use cases for RTP®, such as real-time integrated payables and bill payment using Request For Pay.
Instant payments volumes are rapidly increasing in Europe. European consumers and businesses can now exchange funds immediately, at any time, using one of two pan-European networks, EBA Clearing RT1 and the ECB’s TIPS, whose governing council mandated all T2 participants to be reachable at the end of 2021. It’s all about connectivity.
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