This issue's lead article explores the challenges and progress of U.S. financial institutions in adopting instant payment networks like FedNow and RTP. While there is growing support for instant payments, with 90 percent of FIs planning to implement FedNow within two years, adoption has been slow compared to countries like India and Brazil, where government mandates have driven rapid uptake. Despite participation from major U.S. banks and technology providers, many FIs can only receive, not send, instant payments, limiting the networks' full potential.
Experts interviewed on this topic stressed the need for more integrated fraud prevention tools and better use cases to overcome implementation hurdles and drive broader adoption. They also mentioned specific solutions designed to simplify the use of instant payments for consumers and merchants, that offer speed, enhanced security and reduced processing costs. Another issue slowing down adoption of advanced technologies is entrenched legacy systems in our realm. One expert contributing to this magazine discusses how many banks, merchant acquirers and payment processors have tried to keep pace with the rapid changes in the payments industry by adding point solutions and patches to their legacy back-office systems. At some point, the author noted, the only solution is to cut the cord and fully leap to a modern payments back-office environment.
Other contributors delve into why MLSs need to fully vet prospective merchants and avoid contributing to a growing number of fraudulent applications submitted every day to ISOs, processors and tech providers; why selling a residuals book of business is a multifaceted process that requires careful planning, expert advice and a clear understanding of the market; and, to facilitate clear communication, explanations of several key players and some terms used in acquiring and payment processing.
In our news coverage, we've highlighted stories on the CFPB's investigation into POS cash-back fees; research that revealed vulnerabilities that need to be addressed in digital wallets; PayPal's expansion of its in-store payment presence by enhancing its rewards program and integrating its debit cards with Apple Wallet; and research indicating a whopping 209 percent projected increase in A2A payments by 2029. We've also spotlighted recent milestones in the payments community, many of which we learned of from press releases sent to us by readers. And we've included product profiles and notices of upcoming events. Please send your press releases to press@greensheet.com, and send your questions and suggestions to greensheet@greensheet.com 
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