Control Vs. Convenience Shapes Debate As FIs Adopt Faster Payments
The benefits of instant payment services are gaining attention from companies that want to be able to transact with better visibility and cash flow information.
Enabling rapid-fire transactions to become the norm requires a critical mass of banks and credit unions (CUs) adopting these rails, however. Corporate buyers that bank with financial institutions (FIs) that do offer real-time payments will otherwise be left guessing as to which vendors have FIs that permit them to accept the funds. This friction and limited usability could seriously impede companies’ payments experiences with the rails.