Anique A.

The Clearing House plans to raise its instant payment network’s individual transaction limit. Starting next year, the RTP® Network will allow individual transactions of up to $10 million, The Clearing House (TCH) announced Wednesday (Dec. 4). The company said the new limit supports growth in areas like real estate, supply chain payments and business-to-business transactions requiring higher transaction amounts. According to the release, the new limit will go into effect on Feb. 9. The limit had been $1 million since April of 2022, when it was increased from $100,000. #RTP #UPI #NPCI #SWIFT #Interoperability #APIs #Ubiquity #ACH #SameDayACH #FedACH #NACHA #ACHNetwork #CHIPS #FedNow #Payments #InstantPayments #RealTimePayments #Zelle #ChinnapaReddy #Banking #Innovation #Fintech #BillPay #B2B #FasterPayments #B2BPayments #SWIFTGPI #NEFT #RTGS #FedWire #LYNX #CHAPS #FPS #NPP #RTR

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I'm amused by the persisting trend in #banking and #fintech circles, especially on this site, of institutions posting pictures of re-skinned ATMs as strategic accomplishments in innovation. I often imagine this is what people outside banking see when bankers tout new ATMs as innovation (especially in a world where the money equivalent of the mobile phone has already been adopted by 25+% of American users - #Bitcoin, #crypto): https://lnkd.in/eb9saNRx

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"[Now is when] credit union executives must take the initiative. The time has come to acknowledge these emerging financial realities and prepare your institutions for the future. This means not only being ready to safely hold digital assets on deposit but also building out lending and payments operations that support consumer loans, mortgages, and digital wallets. In doing so, credit unions can protect their members against the real and present dangers of inflation and federal budget deficits, ensuring that they remain relevant and resilient in this new financial era. By leading the way in the adoption of digital assets, credit unions can influence the development of regulatory frameworks that are both supportive of innovation and protective of consumer interests." https://lnkd.in/etHyhQcw #money #dollar #economy #banking #creditunion #local #financial #bitcoin #btc #digitalasset #strategy #innovation

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Imagine the new products and services you could introduce, and the new revenue streams you'd control, if your banking institution could become the most secure storage location for all forms of your customer/member wealth. Well, a truly innovative financial cooperative has just proven they/you can do just that, and remain competitive and relevant as a result! I'm most impressed and pleased by the work the St. Cloud Financial Credit Union and DaLand LLC teams have completed together leading up to this launch; and thrilled to see a local financial institution making history - becoming a safe, trustworthy, local, and sustainable storehouse for new forms of member/community wealth! History being made; bridges being built between 'TradFi' and 'DeFi,' sovereign and local control of money (of all forms) being protected and preserved, waves being stirred for others to surf!! Exciting to see viable and more secure alternatives for digital asset storage, to witness noble financial services leaders leveraging their investments into modern core processors and immense money processing infrastructure so users can accrue wealth of new forms and don't have to assume the risk of relationships with big, online, impersonal exchanges (neo-banks), wallet app providers, or risk fumbling a fortune on a thumb drive or hardware wallet. https://lnkd.in/ekazN2eK #bitcoin #btc #eth #usdc #banking #money #localeconomy #localbanks #communitybanks #dollar #digitalassets #wallets #creditunions Bitcoin Magazine

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The RTP® network, the largest instant payments system in the United States operated by The Clearing House, now averages over 1 million payments per day. The RTP network also set single day records of 1.46 million transactions valued at $1.24 billion on November 1. In October, the RTP network experienced a record 31.7 million transactions valued at $25.4 billion, up 6.2% and 9% respectively, from September, as financial institution customers continued to enjoy the ease and speed provided by instant payments on the network. Payments activity on the RTP network shows that consumers and businesses are utilizing and benefiting from the system’s 24/7 capability, with a notable 42% of transactions happening overnight, on weekends, or on holidays. The utilization of the RTP network outside of normal banking hours (Monday through Friday, 8am-6pm ET) shows that it is providing real-world payments solutions that give users the flexibility to move money or pay bills when they want, and to meet the needs of the modern, 24/7 economy. #RTP #ACH #SameDayACH #FedACH #NACHA #ACHNetwork #CHIPS #FedNow #Payments #InstantPayments #RealTimePayments #Zelle #ChinnapaReddy #Banking #Innovation #Fintech #BillPay #B2B #FasterPayments #B2BPayments #SWIFT #NEFT #RTGS #FedWire #LYNX #CHAPS #UPI #NPCI

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Integrated POS systems are key to modern merchant success, streamlining operations and enhancing customer experiences by merging payments, inventory, and customer engagement in one platform. Learn more about how integrated POS solutions can accelerate your revenue in the latest article from Nuvei and The Paypers: https://lnkd.in/eZPuiZPk

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85% Of Gen Z Prefers Digital Payments to Cash Traditional cash transactions are being replaced, with 24% of U.S. adults now favoring digital alternatives. https://buff.ly/4go3eJ8 #FinTech #FinServ #Banking #Payments #PayTech

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Walmart adopting #paybybank through Fiserv. Let’s talk about it 💵Walmart is always looking for ways to lower payment processing cost. Based on current interchange they pay wonder how much savings happens likely 5-6c per transaction maybe a bit more 💵 The big question continues to be consumer adoption. Why is a consumer going to adopt pay by bank? 💵 Walmart and large merchants tried to create their own networks years back. CurrentC by MCX had CVS Target as well as Walmart and other merchants to no avail. So What? Always worth monitoring things that merchants do to drive payment choice but bottom line is consumer adoption is the key to success with payments

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⬇️ Organizations are increasingly turning to artificial intelligence (AI) to improve mainframe operations, enhance transactional workloads, accelerate modernization and close skill gaps. Revolutionizing how IBM Z® users engage with and manage the mainframes is what the IBM watsonx™ Assistant for Z is all about.

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What bank and credit union issuers should do is give Gen Z consumers a choice. Many have no interest in cards, having enthusiastically adopted digital wallets as part of this generation's digital concentration. You may even benefit by making optional cards something special, such as going with metal cards for premium accounts. But always make cards an option, because many still see them as safer than digital payment formats.

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Behind on #Bitcoin strategy? DaLand LLC can help your local FI put it at the core of your banking and credit union operations - responsibly, efficiently,and cost effectively. Stay plugged into the future of money. Ensure you're part of financial literacy for the future of your local economy!

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#BNPL use may rise this year for holiday shopping With credit card interest rates at a historic high, consumers are likely to gravitate to lower-cost alternatives, including potentially buy now, pay later options, industry consultants say. https://buff.ly/3B3Dimc #FinTech #FinServ #Banking #Payments #PayTech

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A fascinating topic and strategy! I would love to hear your thoughts! #DigitalBanking #Payments #Treasury

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Small business sales are up for the year and down for the month. Lower average ticket sizes and decreased foot traffic in some areas resulted in slower spending at small businesses in June. Explore the latest results from the Fiserv Small Business Index.

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If I were still in the payments business, I'd be very, very nervous. Writing is on the wall with interchange compression & the 500 lb gorillas are making structural moves to simplify legacy revenue share models that can no longer sustain in a rapidly emerging, compressed interchange reality. A smattering of headlines in the payments game that’s likely pushing payments leaders contemplating their positioning & partnership strategy. Facsinating times in the payments game! __________________________ "U.S. Department of Justice Sues Visa for Monopolizing Debit Markets: Visa’s Exclusionary and Anticompetitive Conduct Undermines Choice and Innovation in Payments and Imposes Enormous Costs on Consumers, Merchants, and the American Economy." -DOJ "Fiserv nets special banking charter in Georgia." - Banking Dive ".... The merchant acquirer limited purpose bank charter approval enables Fiserv to authorize, settle, and clear payment transactions for merchants, REMOVING THE NEED FOR A BANK PARTNER." -Payments Dive "... payments companies such as Stripe and Square will pursue the charter, establishing a presence in Georgia if needed to meet application requirements.... Other large merchant acquirers.... may be candidates for the charter... that could include Global Payments Inc. and Priority Technology Holdings, Inc. (NasdaqCM:PRTH)." - Payments Dive "Wells Fargo Merchant Services (WFMS), in which Fiserv acquired a 40% stake through its 2019 merger with First Data, will expire on 1 April 2025." -Payments Dive "Capital One is looking to acquire Discover by the end of 2024 or early 2025 in a $35.3 Billion transaction." - Delaware Business Times “Discover Financial Services has its own payment processing network, similar to Visa, Mastercard and American Express. We wanted to diversify and Discover was, in many respects, the only opportunity to do that. Add that and the feel that the network, while a tremendous asset, has an opportunity to grow. Capital One, with its larger customer base, can invest in the network to grow it into a more forbidble competitor.” - Capital One, EVP Head of External Affairs, Andres Navarrete

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How did we fare in June? Get the latest insights on #SMBs from the Fiserv #SmallBusinessIndex.

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CGI Hotscan360 business solution has been recognized as a market leader by leading research and advisory firm Celent in its latest Financial Crime Compliance Technology: Watchlist Screening Edition report. Read more in the press release. #payments #adaptivebanking #banking #financialcrime #compliance

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One of my all-time favs; this one goes out to all you trail blazing individualists in the #local #banking world. You know who you are, you who dare to 'walk on the grass' and write straight with crooked lines, in pursuit of delivering results to your #members and #customers, and on your journey to staying plugged into the future of money! If you're looking to blaze past the fence and continue down the path of #financial #services in the 21st Century, the team at DaLand LLC is here to help! #bitcoin #legislation #revolution #cooperative #finance #btc #dollar #inflation #savings #creditunions.

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If #Bitcoin, #crypto, and new #digitalasset forms of #money aren't on your #creditunion or financial institution planning agenda this year, then the team at DaLand LLC can help get you up to speed and ensure you're able to stay plugged into the future of money: https://lnkd.in/etHyhQcw

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