BankNews Feb. 2015

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Search Results: Payments

White Paper Examines Australia’s New Payments Platform

Fundtech, a market leader in global transaction banking solutions, has released a white paper examining Australia’s New Payments Platform (NPP), including its strategic objectives and likely characteristics. The paper also addresses the benefits of early adoption by banks and deposit-taking institutions.

Australia’s NPP is currently scheduled to launch in mid-2017 and promises to transform the Australian payments landscape. While the NPP shares the commitment to speed, availability, and convenience common among other countries with similar immediate payment schemes in place, it also has unique characteristics and capabilities that will create specific opportunities for Australian financial institutions. Along with the core objective of enabling immediate payments, the NPP is designed to enable the evolution of future capabilities, including new data, new flows, and new customer solutions. To take advantage of this, financial institutions should begin the journey to immediate payments now, laying the necessary groundwork and examining the options available to them.

“The NPP is shaping up to be an opportunity for financial institutions to provide new, innovative, and responsive services to business and retail customers across banking segments and channels,” says David Brown, Senior Vice President of Global Payments, and co-author of this white paper. “Banks that recognize the opportunity and act early will be well-positioned to excel in the industry’s new immediate payments landscape.”

Fundtech provides immediate/faster payments capabilities as a module of its global payments solution. The solution accommodates individual and bulk domestic payments schemes whose turn-around time, from issuance of a customer’s original instruction to the bank’s final response, must happen in near real-time.

To download a complimentary copy of this Fundtech white paper, please visit: http://www.fundtech.com/library/white-papers/.

About Fundtech

Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, Fundtech’s customers benefit from lower operating costs and an enhanced end-user experience through integrated and feature-rich solutions. The firm’s major product lines include: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. Thousands of financial institutions and companies worldwide rely on Fundtech’s innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com.

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House Creates Congressional Payments Technology Caucus

March 23 – Representatives Lynn Westmoreland (GA-03), Randy Neugebauer (TX-19), David Scott (GA-13), and Kyrsten Sinema (AZ-09) of the U.S. House of Representatives have announced the formation of the Congressional Payments Technology Caucus (CPTC). The mission of the CPTC is to explore the new and innovative technologies in the payments industry, as well as answer questions about data security, unbanked users’ access to electronic payments, and more. Each founding member also serves on the House Financial Services Committee and has a strong interest in educating fellow members and the public on consumer protection when it comes to electronic payments. Below are statements from each founding member.

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NACHA ’s Payments Innovation Alliance Releases White Paper : “Leveraging the Mobile Channel for A CH Payment Innovation”

March 18 – The Electronic Payments Association has announced the release by its Payments Innovation Alliance of a white paper, “Leveraging the Mobile Channel for ACH Payment Innovation.”

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Jack Henry & Associates Introduces Online Payments, Donations Platform

March 13 – Jack Henry & Associates’ ProfitStars division has announced the addition of ProfitStars EPS SmartPay Express. Part of the Enterprise Payment Solutions (EPS) product suite, this platform enables financial institutions to provide custom online payment and donation services for business customers.

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Most Influential Women in Payments Honored by PaymentsSource

March 13 – PaymentsSource, providing news and analysis for payments professionals, has announced the honorees for the 2015 Most Influential Women in Payments. PaymentsSource will celebrate the accomplishments of these exceptional leaders on April 8th at an honoree panel discussion and reception, held during the 27th Annual Card Forum & Expo at the Chicago Marriott Downtown, hosted by PaymentsSource and American Banker.

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FirstMerit Mobile Banking Apps Now Offer Popmoney for Convenient Person-to-Person Payments

March 12 – FirstMerit Corp. has announced that its Apple iOS and Android Mobile Banking Apps now include Popmoney, a simple and secure service that allows customers to send and receive money electronically.  Sending and receiving personal payments through Popmoney reduces the hassle of writing checks and eliminates the need to carry cash. All it takes is an email address or mobile phone number of the person receiving funds to initiate a payment.

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Viewpost Targets Fast Growth in Online B2B payments

March 12 – Electronic invoicing and payment provider Viewpost IP Holdings LLC is looking to build on growth in business-to-business payment processing by connecting buyers and suppliers through its free-to-join online portal. CEO Max Eliscu compares his company’s portal, launched last fall, to Facebook or LinkedIn, except instead of browsing old bosses’ profiles, buyers and suppliers use their Viewpost pages to get paid.

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Payveris Offers Free P2P Payments to Financial Institutions

March 9 – Payveris, a next generation online and mobile digital payments company announced that as part of its ongoing efforts to unite with banks and credit unions to keep them at the center of the digital payments process, it will be offering its person-to-person “SEND CASH” service via its PayItNow™ Network for free to institutions and industry partners that sign onto the service within the next 90 days.

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First United Bank Launches Next-Day Person-to-Person Payments

March 6 – Malauzai Software, a provider of mobile and Internet banking SmartApps for community financial institutions, has partnered with digital payments services provider Payveris to offer its clients faster payments services. The integration is being used by Dimmit, Texas-based First United Bank to provide account holders next-day person-to-person (P2P) payments in an effort to better meet the needs of its millennial customer base in a competitive banking market.

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First United Bank Launches Next-Day Person-to-Person Payments

March 2 – Malauzai Software, a provider of mobile and Internet banking SmartApps for community financial institutions, has partnered with digital payments services provider Payveris to offer its clients faster payments services. The integration is being used by Dimmit, Texas-based First United Bank to provide account holders next-day person-to-person (P2P) payments in an effort to better meet the needs of its millennial customer base in a competitive banking market.

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