The Checkbook blog
Insights on payments infrastructure, digital checks, and the future of money movement.
Real-Time Payments: Understanding the Future of Money Movement
Since the first live RTP™ payment in November 2017 and its initial volume increase in 2019 with PayPal's use case, RTP™ has been on an upward trajectory, revolutionizing financial transactions with unparalleled speed and efficiency. Citing RTP™ volumes from TCH, the growing demand underscores the critical innovation of real-time payment systems in today's financial landscape.
FedNow: Hype or reality?
FedNow is an interbank instant payment infrastructure that aims to transform payments in the US. FedNow Instant Payments, launched by the Federal Reserve on July, 2023, promising to transform how money moves electronically. It had been in planning for 4+ years.
Push to Card Payments Explained
In today's fast-paced digital world, the ability for real-time transactions is no longer a luxury—it's a necessity. Push to Card payments are leading this charge, offering a swift, secure, and efficient way to transfer funds, any time, any day.
Understanding ACH Payments: Efficiency, Security, and Digital Banking Evolution
Explore the intricacies of ACH payments in this comprehensive blog post, delving into its role in modern banking infrastructure, efficiency, security measures, and future outlook. Discover how ACH transfers streamline financial transactions, the benefits they offer, and insights into their safety protocols. Gain valuable knowledge on the workings of ACH transactions, processing times, and their significance in the evolving landscape of digital banking.
Checkbook & Synctera: Revolutionizing Payments Together
Checkbook Synctera Partnership
FinTech Funding and Valuation versus Demand and Supply
There’s been a growing rumbling in recent months that fintech is plateauing. After all, now that AI is here, what’s to stop it from demolishing the need for fintech innovations altogether?
The Anatomy of a 99% Completion Rate
Most payments happen without payors or recipients ever having to think about them. And that’s the way it should be—in a perfect world, every transaction would be seamless. But it’s not a perfect world, and the reality is that only between 92–95% of payments are completed successfully. While at first glance, that statistic may not be jarring, but think of it this way: what if your paycheck bounced 8% of the time? Suddenly 92% seems a far cry from acceptable.
How The Money Flows: Payments for Cash Advance
There’s probably been a time in your life when you had an unexpected emergency arise and didn’t have the money to address it until your next paycheck. If you don’t have friends or family to help, there aren’t many reputable solutions that can get you money quickly. That’s where cash advance comes in: it’s a short-term lending tool designed to bridge the financial gap between paychecks. Here’s a look at the cash advance industry as a whole and how changing market conditions have made faster payments a necessity.
Top Takeaways from Nacha's Annual Conference
Nacha’s annual conference is the place to be if you’re in the payments industry, and this year’s event—Smarter Faster Payments 2023—was no exception
Building Creativity - Hackathons with Checkbook
Each year, over a thousand intrepid hackers gather on the Stanford University campus for a 3-day hackathon that involves laser tag, yoga, and a whole lot of brain power. Participants are given tracks from which to choose—such as healthcare, sustainability, and education—and from there are given free reign to hack at will, producing projects that tackle some of today’s most difficult problems.
Unique ways to increase retainment of 1099 contractors
It is a gig economy! Part-time employees, gig workers, and or 1099 contractors are growing in popularity, making up over 30% of this country's workforce. More people in this economy want the freedom to work where they want and when they want in ways that the traditional work environment doesn’t offer.
Creative ways to send payments & dodge common fees
Paying your bills on time can be something of a chore. Knowing when and how to pay essential bills can be confusing. That is because each bill has varying contract terms. Individuals should understand potential late fees, penalties, and contract terms for each bill.
