Nacha, the regulatory body for the automated clearing house network, has named open-banking specialist MX Technologies Inc. a member of its Preferred Partner Program. MX is the 30th company to be named to the program.Consumers’ top five favorite ways to pay are debit cards, credit cards, cash, contactless, and mobile wallets, according …
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The Federal Reserve Board on Monday afternoon narrowed the window for the launch of FedNow, its real-time payment service, to the weeks between May and July of 2023. The announcement, which came in a short address by Fed Vice Chair Lael Brainard, is the latest in a series of updates …
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A startup rent-payment processor called RentSpree closed on $17.3 million in Series B funding led by Green Visor Capital. The company projects it will process more than $160 million in rent payments over the next 12 months.Truist Financial Corp. launched Truist Invest and Truist Invest Pro, an automated investment advisory service and a …
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To make modern fraud detection technology more accessible to community banks, Jack Henry & Associates Inc. late Thursday announced plans to launch early next year Financial Crimes Defender, a cloud-native platform for detecting fraud and other suspicious account activity that can hurt consumer’s financial health, as well as financial crimes, such …
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Digital payments are on the rise, and so is payment fraud. As of 2020, nearly 80% of Americans used at least one form of digital payment. Between 2020 and 2021, payment fraud attacks rose dramatically on digital wallets (200%), payment service providers (169%) and crypto exchanges (140%). To keep up …
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The buy now, pay later provider Affirm Inc. reported gross merchandise volume for its June quarter totaled $4.4 billion, up 77% year-over-year. For the year ended June 30, volume came to $15.5 billion, up 87%. Active merchants ballooned from 29,000 a year ago to 235,000, driven by Shop Pay Installments, an Affirm …
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The ATM world is about to get another publicly held company. Bitcoin Depot, a Bitcoin ATM operator with more than 7,000 machines in the United States and Canada, intends to go public in a merger with GSR II Acquisition Corp., a special purpose acquisition company. Announced Thursday, the proposed deal …
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Visa Inc. announced late Wednesday it has now issued more network tokens than there are physical Visa cards, eight years after the launch of the Visa Token Service. With a boom in e-commerce and other digital applications, the service has now issued more than 4 billion tokens, Visa said, almost …
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MoviePass, a movie-theater subscription service, selected Usio Inc. as its exclusive prepaid card issuing platform. Usio will be the program manager and processor for the upcoming MoviePass debit card it plans to issue to all subscribers.PayPal Holdings Inc., in conjunction with National Philanthropic Trust and Vanguard Charitable, launched Grant Payments, a product …
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The drive to create a data security standard designed for digital financial services applications that use cloud-computing, such as open banking, continues to gain momentum. Anecdotes AI Ltd, Codat Ltd., Skyflow Inc., and Very Good Security Inc. are the latest digital finance companies to join a group of financial technology …
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