Welcome to Innovating Payments News Top 3 Headlines. The popularity of the crypto world is growing rapidly, with Bitcoin rising to the top as the most popular cryptocurrency. Did you know that one of the most common ways to buy Bitcoin is with an ACH (Automated Clearing House) transfer? Also making headlines, 44 percent of U.S. businesses consider data reconciliation as the most pressing AR concern. Not surprisingly, real-time payments are among the many solutions to the challenge. And FinTech startup Even is setting a new trend with help from J.P. Morgan. The company has revealed that JP Morgan is enabling real time payments (RTP) for it. With it, Even is planning to be one of the first businesses in the world to provide millions of hourly workers across the United States immediate access to their earned salaries.
Read on to learn more.
1. How to buy Bitcoin with ACH instantly in the USA & Worldwide (captainaltcoin.com)
The popularity of the crypto world is growing rapidly, and I can bet that most of you who are reading this are either already in the crypto market or plan to enter sooner rather than later. Bitcoin is the most popular cryptocurrency, so it is not strange that you can buy it quite easily. There are many ways to buy Bitcoin in 2021, and every leading crypto exchange tries to simplify this process as much as possible. One of the most common ways to buy Bitcoin is with your ACH (Automated Clearing House) bank transfer. You can do this if you have a US bank account. Yes, it's that simple. Read more.
2. 44% of US Businesses Consider Data Reconciliation as the Most Pressing AR Concern (PYMNTS.com)
March 2020 triggered a massive slowdown in B2B payment flows from which many businesses have yet to recover. Even today - more than 18 months later -firms are waiting longer to receive payments than they did in 2019. Among the key frictions that tie up firms' accounts receivable (AR) and extend their time to realized revenue (TTRR), data reconciliation is foremost. In fact, 44% of U.S. businesses consider this to be their most pressing AR concern, according to Accelerating the Time to Realized Revenue, a PYMNTS and Mastercard collaboration. Read more.
3. JP Morgan Enables Fintech Firm Even With Real Time Payments (FintechMagazine.com)
Today, fintech startup Even is setting a new trend with support from J.P. Morgan, the U.S. banking powerhouse with a market capitalization of over $496 billion. The company has revealed JP Morgan is enabling real time payments (RTP) for it. With this new feature, Even is planning to be one of the first businesses in the world to provide millions of hourly workers across the United States immediate access to their earned salaries. Until now, this option has only been available to people working for online platforms such as ride-hailing apps. Read more.
How is your financial institution staying current with cryptocurrency developments? Is your organization considering offering real-time payments to business customers to address their most pressing AR concerns? How is your financial institution addressing the needs of hourly workers?
Be sure to check back soon for our next issue, which will again highlight the industry's most need-to-know developments. Until then, visit us online at Innovating Payments.
AUTHOR: Joe Casali, AAP, NCP
Executive Vice President
As the EVP of Payments Innovation for NEACH, Joe focuses on exploring innovative solutions and technologies that will help position members for success, both now and in the future. Connect with Joe to read more of his blogs, articles, and posts.