As 2020 rushes closer, in payments, the excitement seems to be all about real time. So far, at least, the reality falls short of the excitement — though maybe not for too long.


In an interview with PYMNTS, Sarah Adams, vice president of global product at First American Payment Systems, said, “From what I’ve seen, [it] continues to be more of a buzz than a reality. There are a couple of different ways through which you can establish real-time funding, but the cost versus the demand continues to reduce the embrace of both of those functions.”


In terms of mechanics, she noted that Nacha introduced two additional ACH windows, allowing for ACH payments to be processed in a faster manner. There is also the funding method known as original credit transactions (OCT), introduced into the market for card-based funding directly to a debit card associated with a Demand Deposit Account through Visa and Mastercard.


Thus far, she said, there are some use cases that have a need for real-time payments, including paying out insurance claims or expense reimbursements, “but we’re seeing a real delay in adoption from traditional merchants.”


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