Disbursements are a critical part of the modern economy, with more than 170 million consumers in the United States receiving at least one within the past year. These come in many flavors, including Social Security payouts, insurance claim payouts and retail refunds. These payments all share one feature for consumers: They could be faster. According …
Real-time payments continue to gain global momentum in 2024. Two new national players joined the scene in March, and others are introducing significant advancements to their services. Real-Time Payments in Qatar Leading digital financial institution (FI) Qatar Islamic Bank (QIB) recently introduced the Fawran instant payment service. Users can access the service through the QIB …
Peer-to-peer (P2P) payments have grown increasingly popular in the past several years. This is especially true for younger consumers, who prefer a digital-first payment experience. At least half of millennial and Generation Z consumers say they use P2P payments for both in-store and online purchases. Forty-nine percent of organizations say they support P2P payments for …
Real-time payment systems continue to see strong usage worldwide. One of the most significant developments is the European Council’s new rule to enable instant payments across the European Union and European Economic Area. Under this regulation, instant credit transfers must arrive in recipients’ accounts within 10 seconds, regardless of the date or time of day. …