iCheckGateway.com News - Payment Processing Technologies

Everything You Need to Know About ISO 20022 – Fintech News

The need for faster payment systems is growing by the day. Studies by the Clearing House (THC) discuss how real-time disbursements accounted for nearly 17% of all disbursements made in 2021, up from just 5.7% in 2020. The same study states that...

Top 10 Real Applications of Real-Time Payment Solutions

It is NOW or NEVER. Quite literally. The world of payments has seen a massive transformation in the last two decades, and the growth is not stopping any time soon. Technological innovations in Artificial Intelligence, Cybersecurity, Machine...

5 Best Practices for Bank-Fintech Partner Relationships

The number of FDIC-insured banks in the U.S. has been steadily decreasing for over a century. At its peak in 1921, there were 30,456 banks in the U.S. A Statista study shows that in 2000, there were 8,315 banks in the country, and as of 2021, there...

When Will FedNow Be Available?

Digital and mobile payments are here to stay. A McKinsey study shows that every 4 out of 5 Americans has used some form of digital payments in 2021. As with all other human inventions and the need for speed, this brings us to the question, what...

ABCs of Third-Party Service Providers and Nested Third-Party Senders

In the previous blog, we discussed the roles and responsibilities of a third-party sender. We understood how funds flow between an originator and recipient with and without the support of a third-party sender. We also understood how third-party...

What is FedNow, and How Does it Help You?

To say that we expect a spike in the adoption of real-time payments in the future, is a gross understatement. Latest studies show that the U.S. real-time payments market is expected to grow at a staggering 30.4% compound annual growth rate (CAGR)...

ABCs of Faster Payment Systems for Banks

Digital transformation efforts in the financial sector are mainly geared towards one of the following goals:

  • Increase convenience
  • Increase speed
  • Reduce costs

If a project fulfills one or more of these goals, it is deemed complete/successful....

Understanding the ABCs of the Federal Reserve

The United States monetary system is arguably one of the most well-thought and planned financial systems globally. It is also designed to effectively scale and handle the economic woes to power one of the wealthiest and most powerful countries. The...

All About the Role of Third-Party Senders on ACH Network

The Automated Clearing House (ACH) network feels like a big complicated banking term meant only for professional bankers. In fact, even a few professionals do not entirely understand the inner workings of the ACH network. Although it seems complex,...

How to Detect and Prevent Fraud While Adopting Faster Payment Systems?

Efficiency and speed come at a cost. Strategic implementation of new technologies impacts the lives of several people. In the case of most financial institutions, a well-planned adoption helps both the consumers and internal employees get a better...