Re: Dwolla's Ben Milne says it like a boss...

An oft ignored economic benefit of real time payments is the increased
velocity of money.
I'm sure someone must have measured how much money is sitting in limbo at
any time because it's part of an in-flight transaction.

VocaLink have a nice piece on real time:
http://immediatepayments.vocalink.com/Benefits

On 30 October 2014 19:35, Melvin Carvalho <melvincarvalho@gmail.com> wrote:

>
>
> On 30 October 2014 17:25, Reutzel, Bailey <bailey.reutzel@sourcemedia.com>
> wrote:
>
>>  BBVA just partnered with Dwolla to enable low cost, real-time payments…
>>
>>
>> http://www.paymentssource.com/news/emerging-payments/bbva-looks-to-dwolla-tech-to-modernize-payments-3019566-1.html
>>
>>
>>
>> This story is behind our paywall, but when I asked BBVA how this relates
>> to the Fed’s push for real-time payments, he said there continues to be
>> conversations and they continue to stay as conversations… So they’re moving
>> ahead.
>>
>>
>>
>> And then Ben Milne, CEO of Dwolla, summed it up in what I think is a
>> pretty awesome statement:
>>
>> "The conversation around real-time, up until this point, has centered
>> around standards, rules and policy," said Ben Milne, CEO of Dwolla.
>> "There's a place for those conversations, but real-time needs to be thought
>> of as a platform for innovation, to allow developers to stream payments to
>> and from their applications, utility companies to charge for energy by the
>> minute, marketplaces to make disbursements instantly or financial
>> institutions to build new B2B products."
>>
>>
>>
>> Just thought it was worth sending out to the group. J
>>
>> -B
>>
>>
>> "This communication is intended solely for the addressee and is
>> confidential and not for third party unauthorized distribution"
>>
>
> I think real-time should be the default.  In fact, so much so, that it
> shouldnt even be a thing.
>
> How would you explain to a young person the concept a realtime SMS, or a
> realtime email, or a realtime phone call.
>
> They would say to you, was it ever any other way?
>
> When we tell our grand children that it used to take days to deliver a
> payment, they should, rightly, laugh at the thought...
>
>
>