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The qualities that attract Instant Payments to senders and receivers; 24x7x365 availability, clearing speed, and finality of settlement, are the same features that…
December 12, 2024
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Trending payments news and insights, written by the Wespay Advisors’ staff, and updated regularly to keep you learning and your business growing. Got a question you’d like us to cover? We’d love to hear from you.
The qualities that attract Instant Payments to senders and receivers; 24x7x365 availability, clearing speed, and finality of settlement, are the same features that…
The defining characteristic of an Instant Payment transaction is, of course, the speed with which it clears (i.e., the movement of funds from the sender to the receiver) and settles…
It is important to remember that Instant Payments (i.e., FedNow and RTP payments) are services and were not designed to facilitate any one particular use case. As Instant Payment services mature…
As we continue our exploration of different Instant Payments topics, we wanted to take a deeper dive into one of the use cases that’s driving the adoption of Instant Payments: Request for Payment, or RFP.
One of the most common concerns we at Wespay hear from our FI members is how they will handle exceptions when it comes to Instant Payments via RTP and FedNow.
One of the most common payment strategy topics gaining traction with our clients lately is the growing popularity of posting received Automated Clearing House (ACH) credits to customer accounts earlier than required by the ACH rules.
‘Instant’ and ‘Faster’ payments process differently and are each characterized by clearing speed or speed of settlement. To help navigate the difference, it’s key to dive into the nuances of the end-to-end transfers.
Inventorying current systems is a vital component of your ongoing Payments Strategy. And a word to the wise: revising your product line may not mean adding more.
For credit unions who’ve become interested in offering instant payment (IP) services tied to RTP (Real-Time Payments) and FedNow, one of the biggest questions these institutions – and very possibly yours as well – must address is which IP network to join.