The value of payments cleared by Payments Canada’s systems in 2017 was approximately $50 trillion, or roughly $200 billion every business day. By 2020, these payments will be completed faster — in “real-time” or “near real-time” — with many benefits beyond just faster access to funds.
Identity, biometrics, and authentication took center stage at the world's largest payments & financial services innovation event
The next phase of faster payments in the U.S. has arrived. Beginning on September 15, same day payments will be available for virtually any ACH transaction.” This is because Same Day ACH is being opened up for debit entries.
Payment industry stakeholders spent 2016 adapting to open APIs, omnichannel commerce, EMV chip cards and other major innovations. To ensure security in 2017, the payment industry will be expected to make transactions convenient for customers, while also utilizing the necessary safeguards and strong authentication solutions to prevent new account fraud and bolster cybersecurity.
Money 2020 is bigger and flashier than any other event for the financial/fintech sector so it seems fitting that it was held in Las Vegas. Both the location and venue created a perfect backdrop for the key event theme: the fast transfer of money. Here are a few of the major topics covered in this year’s Money 2020 conference: