Banks may not like it, but the demand is here for faster payments — from businesses, consumers and regulators alike. While they’re apprehensive about the technology, financial institutions are facing pressure to adopt real-time payments capabilities to meet that demand and to comply with new regulations. In Europe, the driving force behind faster payments is the revised Payment Services Directive, or PSD2, which now includes third-party payment players under its scope. The legislation includes mandates for capital holdings, indemnity insurance, payment data access, security and, of course, access to faster payments. Read more: pymnts.com
