Peter Davey

speaker

323 appearances 2 recordings 1 series first heard Apr 2025 last heard 4d ago

Peter Davey’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Sep 2026 with 1.

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Off the Rails from the U.S. Faster Payments Council - FPC · 24 April 2025 Peter Davey of PaymentsJedi Advisory on killing checks, pay by bank, and Payments Beer Nerds · 24 Apr 2025 podcast

Everybody's got this as something that they're thinking about now.

So when we launched RTP in 2017, we had a hard time convincing banks that they needed to do something.

Now that the Fed's been out for almost two years now in this environment,

you're starting to really see people take action of at least receiving.

And I do think that we're getting that point.

The Fed's at 1,300 financial institutions as of this past month.

The clearinghouse is at 900 some odd, getting close to 1,000.

While there's a lot of similarities in terms of who's on those networks, I do think that you're going to continue to see people want to at least be at the table now.

And I think the growth of financial institutions, I mean, if we can get to 2,500, that's great.

But we're still on the first mile of this entire race because we still don't have all the send capabilities that people need.

And to me, that's the more important aspect than just number of financial institutions connected.

I think a lot of the transactions today still are B2C, C2B type transactions on those networks, right?

And to your point, diving into the micro to figure out what's actually working, I think is key to helping people see the types of usages

cases that others are already doing that they could also be doing at their financial institution from a sense side.

I do think that the game changer, though, for instant payments is really going to be business automation and the integration of APIs into

uh the back office functions which right now in many cases are manual so going back to the whole check thing right um if you know we start to automate the ability to connect to electronic payment networks like ins like rtp and fed now through apis through banks and then nobody has to make a decision as to how the payment flows that really does drive growth um in the instant payment space because once people have the um

connectivity to have the certainty of a transaction and to know that it's been completed and it's all done within their modern interface through their ERP or ARAP system.

they're not going to want to do anything else.

So I think that's ultimately what drives volume and higher dollar limits.

I mean, we talked about the fact that the fed, you know, is they're raising their dollar limits this year, clearing house raised to 10 million.

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