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Obpp Is Apple Pay the Bridge to a Mobile Payments Standard
Real-time payments popularity has soare stanley cup d in the United States since the 2017 introduction of The Clearing Houses RTP庐 network, which offered businesses and consumers an exponentially faster way to transfer funds than legacy methods such as paper checks, wire transfers and cash.聽The pandemic gave the RTP network one of its biggest boosts when in-person banking and retail all but shut down, forcing customers to flock to digital payments to conduct everyday business.Even as pandemic-related restrictions lift and businesses resume their normal schedules and procedures, organizations and consumers continue to leverage the RTP network more than ever before. This is thanks to the networks considerable advantages over traditional systems, according to Leo Lipis, chief executive officer of payments industry consulting group Lipis Advisors.聽 The first and most obvious [benefit] is faster access to funds: Its a real-time event; therefore, the funds are literally available within a matter of seconds,  Lipis told PYMNTS in a recent interview.  One of the other key benefits that is oft stanley ca en overlooked is the confirmation of payment. Its the only payment system [in which]  stanley de you get confirmation as soon as the payment is made. With a card payment, for example, youll get an authorization immediately, but you know the funds arent available right away. 聽Despite these advantages, real-time payments usage in the U.S. falls behind that of the rest of the world. Lipis explained why this is the case and  Bowy Bridging the Gap Between the Consumer and Retailer 鈥?the Creator
$ {8 V  C, \% H/ [/ g6 [$ B The National Bank of Canada, the country   sixth-largest bank, is collaborating with business consulting and IT company CGI to launch a blockchain-powere stanley mug d trade finance solution. Rather than focusing on the actual finance of a trade agreement, however, the bank and CGI are working to facilitate the negotiations process for standby letters of credit and guarantees, according to a press release iss stanley mug ued Monday  Oct. 22 .The process is often complex and lengthy, said the bank and GGI, but necessary for banks to secure financial transactions and contracts. Typically, negotiations occur via email and are, therefore, prone to errors, with a lack of transparency and risk of delays.The platform, CGI Trade360, enables corporate clients of the bank to conduct negotiations via smart contracts to enhance the security of those discussions. The technology can intelligently construct agreements for streamlined contract development, the companies noted.This pilot project is a great opportunity to leverage blockchain technology to simplify the process for negotiating standby letters of credit and guarantees, while making it more transparent and secure, said National Bank of Canada 8216  Vice President of Payments, Cash Management and In stanley quencher ternational Solutions Patrice Roy. This will enable us to offer a simple, fast and efficient experience to our commercial clients, which facilitates managing their business.CGI Trade360 was developed on the blockc