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🚀 Reimagining Payments: From Legacy to Instant and Beyond 🚀
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🚀 Reimagining Payments: From Legacy to Instant and Beyond 🚀
The Payment Valkyries came together with guest, Miriam Sheril from Form3, for a lively discussion on the future of instant payments! In this informal coffee chat, they explored the transformative potential of real-time payments and envisioned a world where batch processing is a distant memory.
Soundbites from the conversation:
The latest trends in instant payments: [0:05:38]
"RTP has more volume than CHIPS does at this point."
A future vision of ubiquitous instant payments: [0:15:28]
"Imagine how much smaller the world is going to feel when money moves instantly."
The challenges and opportunities in moving to a real-time world: [0:29:18]
"In the instant payments future world where it will be a little easier to live by the money you make... because [your financial status] will be clear when you get your money as soon as you earn it."
The impact on individuals, businesses, and society: [0:33:52]
"For a consumer, you can take advantage of having that money to pay your bills instead of having to pay for those predatory services that some people need to incur because they don't have the cash up front today..."
Don't miss these key takeaways:
The role of technology in enabling instant payments: [0:45:48]
"There's going to be more growth in B2B... [banks and businesses] will be investing in the good tech to modernize and support 24/7 activity and remove batch...'"
The importance of collaboration and interoperability: [0:47:09]
"We need to have a conversation among fintechs, [consolidating] the different networks... we all need to speak the same language and [the networks] have to be interchangeable."
The need for a governing body to oversee instant payments: [0:58:19]
"Eventually we're going to need a governing body like [NACHA] for instant payments and I think it's going to have to be a global one."
#PaymentValkyries #InstantPayments #Fintech #Innovation #FutureofMoney. #PaymentsModernization #InstantPaymentsMaven
The Payment Valkyries came together with guest, Miriam Sheril from Form3, for a lively discussion on the future of instant payments! In this informal coffee chat, they explored the transformative potential of real-time payments and envisioned a world where batch processing is a distant memory.
Soundbites from the conversation:
The latest trends in instant payments: [0:05:38]
"RTP has more volume than CHIPS does at this point."
A future vision of ubiquitous instant payments: [0:15:28]
"Imagine how much smaller the world is going to feel when money moves instantly."
The challenges and opportunities in moving to a real-time world: [0:29:18]
"In the instant payments future world where it will be a little easier to live by the money you make... because [your financial status] will be clear when you get your money as soon as you earn it."
The impact on individuals, businesses, and society: [0:33:52]
"For a consumer, you can take advantage of having that money to pay your bills instead of having to pay for those predatory services that some people need to incur because they don't have the cash up front today..."
Don't miss these key takeaways:
The role of technology in enabling instant payments: [0:45:48]
"There's going to be more growth in B2B... [banks and businesses] will be investing in the good tech to modernize and support 24/7 activity and remove batch...'"
The importance of collaboration and interoperability: [0:47:09]
"We need to have a conversation among fintechs, [consolidating] the different networks... we all need to speak the same language and [the networks] have to be interchangeable."
The need for a governing body to oversee instant payments: [0:58:19]
"Eventually we're going to need a governing body like [NACHA] for instant payments and I think it's going to have to be a global one."
#PaymentValkyries #InstantPayments #Fintech #Innovation #FutureofMoney. #PaymentsModernization #InstantPaymentsMaven