Banks Worry About ROI on Faster Payments

Real-time payments are moving fast and with the Fed announcing the FedNow initiative there is a push to adopt faster payments solutions soon; banks have found trouble with faster payments, especially when it comes to ROI use cases; there has been a fair amount of testing with real-time payments solutions and The Clearing House consortium is helping banks better understand real-time payments; the recent news from Swift launching a new messaging standard will also provide banks with a clearer understanding as to the benefits of faster payments; “It really is up to the banks, merchants and large corporations to see what they can develop as use cases for this service,” Bridget Hall, Real-Time Payments Leader at ACI Worldwide,  said to American Banker. “The really neat part about this is that the framework is there, or being built to work in other countries, and the framework and rails have no limits in terms of coming up with use cases.” Source