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HOW FEDNOW AND FASTER PAYMENTS WILL IMPACT US FINTECH

$ Transfers and Digital Payments, 2023, ACH, ALL CONTENT, Bessemer Venture Partners, Central Banks/Government, Fed Now, Link, Marcel Van Oost, Other Strong Payments Component (e.g., insurance, healthcare), Real-Time Payments, Stablecoin, Venmo, Wallets, Zelle /

FedNow’s promise of faster payments is not new. Aside from RTP and same-day ACH, we have seen faster payments in a number of forms: closed-loop P2P payments (Venmo, Zelle), wire transfers, stablecoins, and push-to-card. Each varies in settlement type, rail, limit, cost, push/pull capabilities, and transaction limits. This has created an ecosystem where U.S. money movement has become unnecessarily complex. In this white paper by Bessemer Venture Partners they explain that they expect to see more payment-first business models, and a new wave of fraud, and infrastructure to facilitate the patchwork of faster payments in the US.

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THE FUTURE OF INDIA’S DIGITAL PAYMENT

$ Transfers and Digital Payments, 2023, ALL CONTENT, Jasbirs Juneja, Link, Open Banking, Real-Time Payments, Redseer Strategy Consultants, Unified Payments Interface (UPI) /

In this publicly available report from Redseer Strategy Consulting, it is estimated that 85% of businesses in India will be digitally enabled by FY26. This means that a large majority of businesses in India will have embraced digital technologies and processes for their operations.

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