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Business Wire
24-07-2025
- Business
- Business Wire
Apiture Launches Real-Time Payments for Community Banks and Credit Unions
WILMINGTON, N.C.--(BUSINESS WIRE)-- Apiture, a leading provider of digital banking solutions, today announced the availability of real-time payment capabilities for its community bank and credit union clients. With this enhancement, Apiture clients can enable their consumer and business account holders to send and receive payments instantly, 24/7/365, through The Clearing House's RTP ® network and the Federal Reserve's FedNow ® Service. As demand for faster, more reliable payment experiences continues to grow, real-time payments adoption is steadily increasing, especially among businesses. Over half of American companies were already using RTP and FedNow in 2024, according to a study from U.S. Bank, with adoption projected to reach 80% by 2026. As real-time payments shift from a competitive advantage to a customer expectation, offering this capability is becoming increasingly important for community banks and credit unions to compete with larger financial institutions. The Apiture Digital Banking Platform provides a comprehensive suite of payment options enabling consumers and businesses to choose the best payment method based on their specific use case. The new real-time payments capability builds upon Apiture's existing faster payment options, including domestic and international wire transfers with real-time foreign exchange rates. Additional payment services available to Apiture clients include bill pay, peer-to-peer payments, internal and external transfers, and ACH transactions. 'Whether to support company payroll, bill payments, gig worker payments, early wage access, government disbursements, or P2P transfers, real-time payments have emerged as a highly effective way for consumers and businesses to instantly send and receive account-to-account payments,' said Chris Cox, chief operating officer at Apiture. 'This represents another step in our ongoing mission to help community and regional financial institutions deliver the features today's consumers and businesses need and expect.' For more information, visit About Apiture Apiture delivers award-winning digital banking solutions to banks and credit unions throughout the U.S. Our flexible, highly configurable solutions meet a wide range of financial institutions' needs, from leveling the playing field with larger institutions to supporting growth through innovative data intelligence and embedded banking strategies. With our API-first approach, our clients can maximize the capabilities of their platform while preserving a seamless user experience. Our exclusive focus on digital banking, and a team with hundreds of years of collective experience working at U.S. financial institutions, means we are dedicated to meeting the unique needs of our clients while providing a level of support that is unmatched in the industry. Apiture is headquartered in Wilmington, North Carolina. To learn more, visit
Yahoo
22-07-2025
- Business
- Yahoo
Real-time payments zoom ahead
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Second-quarter transaction volume for the Federal Reserve's young FedNow real-time payments system jumped 63% over the first quarter, to 2.1 million payments, the central bank said Wednesday. Meanwhile, second-quarter volume at the older private rival RTP network, operated by The Clearing House, rose 8% to 107 million payments, compared to the first quarter, according to its release on Thursday. Still, The Clearing House, owned by some of the world's biggest banks, accounts for the lion's share of real-time payments in the U.S., capturing 98% of the second-quarter activity. That private system processed $481 billion in payments during the second quarter, nearly tripling the amount it handled in the first quarter, according to its release. By contrast, the nascent FedNow system processed $245.8 billion in transactions for the second quarter, according to its statistics. Dive Insight: Payments systems worldwide have been moving to embrace real-time networks. The competing FedNow and RTP systems, like others around the globe, have the ability to move transactions in seconds, as opposed to days on less technologically advanced networks. Given that FedNow launched just two years ago in July 2023, it stands to reason that it's experiencing higher growth than the older rival RTP, which began in 2017. But professionals who follow the industry have still wondered out loud about slow progress for FedNow. 'Volume growth is 'middling' for FedNow,' Chicago payments industry consultant Peter Tapling said by email last week in commenting on the second-quarter results. 'From these low volume numbers, we'd like to see them doubling (or more) volume quarter over quarter.' A decade ago, the central bank and financial institutions had brainstormed together about bringing real-time payments to the U.S. Eventually, the banks moved on their own to launch RTP at The Clearing House, followed by the central bank deciding later to start a rival system. The Fed made the FedNow move when it became clear that smaller financial institutions were somewhat reluctant to join the real-time payments system operated by their larger competitors, including JPMorgan Chase, Bank of America, Capital One Financial and Barclays. In any case, there is some evidence that the launch of FedNow has spurred more activity on both systems. So far, FedNow has attracted participation from about 1,400 of the approximately 8,800 banks and credit unions in the U.S., according to the Fed's latest release. It also reported that the value of FedNow's average daily volume more than quintupled to $2.7 billion. While The Clearing House didn't provide an average daily volume value, it reported the average value of a payment passed over RTP surged during the quarter to about $4,000 for June, up from $842 in January. The value of the average payment on the FedNow network was much higher at $115,332 for the quarter. That average payment size for FedNow struck Tapling as high, leading him to conclude that a significant share of the Fed's system is in handling corporate transactions. Both FedNow and RTP have been gradually increasing the limit size for the payments they are willing to handle. Recommended Reading Fiserv exec talks real-time payments and challenges Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-06-2025
- Business
- Yahoo
Payments conferences yet to come in 2025
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. As we enter the second half of the year, executives in the payments and fintech industries are looking ahead to networking and learning opportunities still to come in the second half of 2025. Industry experts anticipate a handful of topics will rise to the top of agendas at these upcoming events. Among the most pressing subjects will be artificial intelligence, the ongoing digitization of payments and ISO 20022, the standard for a common payments language. With the July deadline for ISO 20022 looming next month for the Fedwire Funds Service and a broader November ISO 20022 cross-border payments deadline also ahead, the importance of that topic is rising. Real-time payments gaining ground via the Federal Reserve's FedNow system, alongside The Clearing House RTP network, are also hot themes so far at this year's events. In addition, fraud has taken center stage, including at the Nacha Smarter Faster Payments in April. Erika Baumann, the director of commercial banking and payments at the consulting firm Datos Insights, said she expects real-time payments, artificial intelligence and use cases for generative AI, to be hot themes at remaining events this year. 'The conversation around AI and generative AI in financial services is shifting from theoretical possibilities to real-world applications,' Money20/20 President Tracey Davies said in an interview last year. That's especially true now that Congress is moving ahead with a possible regulatory framework for stablecoins, a form of cryptocurrency tied to fiat currencies. Digital currencies, buy now, pay later and in-house banking payments will likely be on the docket for conferences throughout 2025, Melissa Rawak, Association for Financial Professionals' managing director of membership, marketing communications and events, predicted last year. Below is a look at the biggest payments and fintech conferences still coming up in 2025. These are some of the gatherings most talked about in the industry. July 30-31 Chicago This will be MWAA's 23rd annual conference, a two-day event with educational and networking opportunities, speakers and an exhibit hall that showcases the latest payments products. Sept. 8-11 San Antonio, Texas MAG's event aims to focus on the latest industry topics as well as provide an outlook on the future of payments. Sept. 9-10 Scottsdale, Arizona Like the other regional acquirers associations, WSAA will hold a multi-day conference with education sessions and networking. Last year's event featured presentations on independent software vendors, commerce trends and major credit cards. Sept. 15-16 Chicago About 800 people are expected to attend MoneyLive in 2025, with 60% at the C-level, director, vice president or head-of level. This year's speakers included executives from Barclays, TD Bank and Old National Bank. Oct. 8-9 Chicago The Federal Reserve Bank of Chicago hosts this annual event. Last year's conference featured discussions related to cybersecurity, instant payments and digital currency, among other topics. October 15 New York 'What is great about the Datos event is that … we have the top 100 banks there with limited vendors,' Baumann said. Key topics typically include embedded banking, treasury onboarding and sustainability. Oct. 26-29 Boston AFP's annual conference will take place just before Halloween next year, with nearly 7,000 professionals expected to attend the event, according to Melissa Rawak, Association for Financial Professionals' managing director of global product strategy and growth. The Payments Hub Keynote will discuss the pros and cons of automated clearing house payments versus checks. Other topics will include AI, ISO 20022, fraud prevention, cross-border payments and stablecoins, Rawak said. Oct. 26-29 Las Vegas Money20/20 is among the largest gatherings of AI and finance leaders. This year's event will feature speakers from IBM, OpenAI, Oracle, NVIDIA and many more. The sessions explore how incumbent players, as well as disruptors and innovators, are using technology to modernize payments. Payments and fintech leaders 'attend because we're the place where they can meet with every key stakeholder in the global money ecosystem,' Davies said. 'We're the place to find partners, investors and customers - all under one roof.' Nov. 12-13 Philadelphia This conference in the past has focused on both fintech and payments, delving into topics like the 'future of bitcoin in payments,' innovations in payments and the role of central bank digital currencies. Speakers are drawn from across the payments, banking and digital asset arenas. (A link to the conference isn't available yet, but there is a link to the eighth annual conference above.) Patrick Cooley and Lynne Marek contributed to this story. Recommended Reading FedNow to launch by mid-2023, Fed official says Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-06-2025
- Business
- Yahoo
FedNow delivers new risk management tools
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. FedNow raised the transaction limit for real-time payments to $1 million on Tuesday, from $500,000, the Federal Reserve said in a website post. The Fed has also added new security features, enabling financial firms to limit the dollar amount and transaction speed depending on the customer segment. Banks can now customize how much money their long-standing business customers or individual account holders can send instantly through the network, the Fed said. 'These new value-added features offer FedNow participants more options to customize their instant payments profile, adding to the suite of available tools that allow financial institutions to tailor activity according to risk management needs and customer activity,' Mark Gould, chief payments executive for Federal Reserve Financial Services, said in the post. The Federal Reserve stuck with a prior February plan to raise the limit for FedNow's real-time transactions and allow banks to set parameters on different customer segments. The agency made the move to make its instant-payment service more appealing to banks. 'Feedback from the industry has been invaluable, and we intend to remain agile and responsive to new and changing customer needs as instant payments grow and mature,' Gould said in a Fed's statement. Since its launch two years ago, FedNow's growth has continued apace. It has added roughly 1,400 banks and credit unions to its network across the country, according to the update this week, up from about 1,300 earlier this year. The bulk (95%) of financial institutions on the FedNow network are community banks and credit unions, the Fed's Tuesday post said. The central bank launched the network in July 2023, partly to cater to smaller financial institutions that had been less interested in joining the private rival RTP network run by their big bank rivals through The Clearing House. Both systems have had difficulty luring financial institutions to adopt capabilities for sending payments, as well as receiving payments because the former are perceived as more risky. Indeed, fraud prevention remains a significant hurdle in spurring adoption and use of instant payments in the U.S. Of payment processors and bank technology companies surveyed last year about real-time payments by the U.S. Faster Payments Council about 75% predicted U.S. financial institutions will be able to receive real-time payments by 2028, but they expect only about 35% will be able to send instant payments by that year. One reason for the lag cited by the respondents is concerns about fraud threats, the report noted. As the Fed races to sign up more banks and credit unions for its real-time payments network, The Clearing House has also seen an uptick in use as well. The RTP network's payment volume surged 38% in 2024 compared to the year prior. Recommended Reading FedNow draws 1,300 financial firms Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
25-06-2025
- Business
- Business Wire
GiveCard Collaborates with Visa to Modernize Disbursements in the Public Sector
NEW YORK--(BUSINESS WIRE)-- GiveCard, a platform purpose-built to help nonprofits and government agencies disburse and manage funds over prepaid funds, today announced a strategic collaboration with Visa. GiveCard will be issuing virtual and physical prepaid cards to recipients, distributing them directly to recipients through various U.S. government agencies. 'GiveCard has built a simple and intuitive platform that helps eliminate the cost, time and complexity associated with disbursement of funds' - Rick Malcolm, Head of Visa Government Solutions North America. Together, the two organizations are helping the public sector transition into the cashless era with infrastructure that enables secure ledger transfers at scale - through prepaid debit cards, as well as GiveCard-powered real-time bank transfers and automated workflows that reduce administrative overhead. As the federal government accelerates efforts to modernize payments – including a recent executive order to phase out paper checks by September 30, 2025 – agencies are working to deliver digital-first, audit-ready payment systems. The GiveCard–Visa collaboration offers a turnkey solution: a modern infrastructure that fuses GiveCard's advanced disbursement technology with Visa's prepaid debit cards. 'The world is going cashless, and government and nonprofit systems have been working to modernize their payment systems to keep up,' said Lurein Perera, Co-Founder and CEO of GiveCard. 'We built GiveCard to close that gap: offering a platform that empowers public-sector organizations to move money quickly, compliantly, and without requiring a 20-person operations team.' GiveCard's infrastructure includes high-limit virtual and physical prepaid debit cards, ACH/RTP/FedNow bank transfers, and a full-service cardholder support system through a platform and live interpreter network that operates in 25+ languages. It's all backed by no-code dashboards, APIs, and customizable workflows so agencies can automate disbursement logic, like eligibility checks or attendance triggers, without building from scratch or hiring additional staff. 'GiveCard has built a simple and intuitive platform that helps eliminate the cost, time and complexity associated with disbursement of funds,' said Rick Malcolm, Head of Visa Government Solutions North America. 'Their ability to integrate into government disbursement systems to manage complex and high-volume payments has made them an early success in the public sector, and we look forward to what we can accomplish together for our customers and stakeholders in the government sector.' GiveCard is purpose-built for disbursement: its infrastructure was designed to move money into people's hands with minimal friction, especially for unbanked or underbanked individuals. With no SSN or ID required, the system supports programs like housing aid, disaster relief, and research incentives while maintaining full anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance. The new collaboration will enable state and local governments, school districts, and nonprofits to rapidly implement and scale digital disbursement programs with Visa-backed prepaid cards and secure digital rails. About GiveCard GiveCard is revolutionizing how organizations move money to people. Our specialized prepaid debit card platform and disbursement management infrastructure make it simple and efficient to launch, scale, and measure the impact of fund distribution initiatives. From nonprofit organizations and government agencies running cash assistance programs to research institutions and school systems, GiveCard enables instant delivery of funds to individuals—no bank account required. Founded in 2018, GiveCard has facilitated the disbursement of millions of dollars to hundreds of thousands of individuals across the U.S. Learn more at
