Overview
New technology grabs headlines as we dream, imagine, and predict how the latest discovery or invention will change our world. That is certainly the case with the new real-time, 24/7 payment rails available from The Clearing House’s RTP and the Federal Reserve’s FedNow platforms.
Float, or the time between when money is sent and when it is received, was once a significant cost or benefit to a business, depending on which side of the payment it was on. Electronic payments have virtually eliminated float in banking, but do these new real-time payment rails offer significant incremental efficiency in merchant processing and acquiring? In this report, Javelin assesses the landscape, with a focus on use cases, hurdles to adoption, and what the future holds for faster payments in acquiring.
Key questions discussed in this Merchant Payments report:
- What are real-time payments and what is their role in merchant payments?
- What are the use cases in acquiring for faster payments, if any?
- What is the outlook for payment service providers or processors to use faster payments in acquiring today?
Companies Mentioned:
Federal Reserve Bank, Mastercard, The Clearing House, Visa
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