Bringing even more simplification to the payments process.At Money20/20 USA 2024, we spoke to Dave Glaser, CEO of Dwolla, who is at the heart of a shift taking place in the US. He points to a future where payments could “disappear” through biometric-linked transactions.Glaser lets us know how their secure, cost-effective pay-by-bank and open banking solutions reduce the reliance on traditional methods and legacy systems. It’s an exciting example of Open Banking and Embedded finance in action.Modernizing Payments: Why the Challenge PersistsThe main thing Dave highlights is the ongoing efforts to modernize payments stem from the ever-evolving nature of technology and consumer preferences. Drawing from his 25 years of experience in the industry, he described this as one of the most dynamic eras for payments innovation. Legacy companies that have been operating for decades are now actively upgrading their systems to align with modern expectations.Real-time payments, a global theme, aim to deliver immediacy, reduce costs, and expand options for both businesses and consumers. In the U.S., the RTP model, FedNow, and Same-Day ACH are gaining traction, offering businesses multiple frameworks to experiment with

Payment intelligence provider ValidiFI has teamed with fuel/convenience retail tech company PDI Technologies. The collaboration, announced Wednesday (Nov. 20), will see ValidiFI provide real-time bank account validation for the consumer enrollment process for PDI’s payments solutions. This integration also covers GasBuddy, the PDI-owned fuel savings platform. “Selecting ValidiFI as the preferred provider for bank account validation empowers consumers to choose how they enroll their bank account — using their online banking credentials or manually entering bank account information,” ValidiFI said in a news release provided to PYMNTS.  “The collaboration increases instant consumer approvals, strengthens fraud detection, and empowers more informed risk decisions through validating bank accounts and assessing behavior.”