While payment processing at financial institutions has become faster over the years — and some large players already are part of a “real-time payment” network — many people still may have to wait at least one business day to have access to 100% of deposits they receive or for payments they make to clear.
An insurance company, for instance, could make an immediate payment to help a policyholder whose home or car was damaged by a devastating storm. It also can help speed access to payment of government benefits. And depending on how a bank chooses to design an instant payment service using the FedNow infrastructure, it also may allow for customers to send payments to friends and family to cover things like their share of dinner out last night.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Target workers can now wear shorts | CNN BusinessTarget has changed its dress code to allow more of its approximately 440,000 US-based workers to wear shorts as extreme heat makes retail and other jobs harder.
Source: CNN - 🏆 4. / 95 Read more »
Meta's Threads app rolls out first big batch of updates | CNN BusinessMeta’s Twitter rival app Threads on Tuesday rolled out its first major batch of updates since its launch two weeks ago as it works to maintain momentum.
Source: cnni - 🏆 326. / 59 Read more »
Britney Spears and Will.i.am tease new single 'Mind Your Business' | CNNBritney Spears has some new music dropping soon.
Source: cnni - 🏆 326. / 59 Read more »
AT&T shares hit 30 year low after toxic lead cable report | CNN BusinessAT&T stock fell to its lowest level since 1993 on Tuesday, extending its losses following a report earlier this month that some of the country’s largest network providers left thousands of lead-covered cables in several locations across the United States.
Source: CNN - 🏆 4. / 95 Read more »
Americans aren't rebuilding their savings fast enough | CNN BusinessA recession could be miles away — or it could be just around the corner. It’s the storm that just keeps getting delayed further, but someday in the near future a mild recession will hit, economists predict.
Source: CNN - 🏆 4. / 95 Read more »