Featured

May, 2021

• 21 May

  How Square Recruits Plaid to Support Its New Gambit to Recruit Larger Sellers

  

  A payments trend that has gained some momentum during the pandemic is open banking, the idea that funds can validated and moved from an account to another one at a different bank inexpensively and by means other than cards or checks. On Thursday, that concept took a big step forward …
• 14 May

  With More than 700 Transit Projects in the Pipeline, Visa Sees Tap-to-Pay Transit Payment Surge

  

  As the veil of the Covid-19 pandemic begins to lift, consumers are beginning to resume some of their daily activities. One is returning to the office. While not all are doing this yet, the expectation is that mass-transit systems will soon see ridership bloom. One indicator is that Visa Inc. …
• 13 May

  The Numbers Behind Younger Users’ Love Affair With Mobile Wallets And Online Banking

  

  While mobile-wallet ownership holds steady at 45%, younger consumers are embracing the payment technology more readily than they were 10 months ago, according to a research from the big processor FIS Inc. As of February, 65% of young Millennials use a mobile wallet, compared to 59% in April 2020. In …

April, 2021

• 29 April

  FIS Unveils RealNet, a Network-of-Networks Approach to Real Time Payments

  

  The real-time payments movement continues to build momentum in the United States with FIS Inc.’s announcement Wednesday of RealNet, a cloud-based, software-as-a-service platform that enables businesses, consumers, and governments to initiate account-to-account transactions. RealNet, which FIS describes as a network of networks, will leverage The Clearing House Payment Co. LLC’s …
• 26 April

  How Welcome Tech Will Use $35 Million in Fresh Funding to Serve Unbanked Hispanics

  

  Welcome Tech, a provider of digital financial services to unbanked and underbanked Hispanics, plans to leverage $35 million in new funding it secured last week to grow its customer base by about 1 million and add more financial services, such as a pathway to credit, to help bring its customers …
• 21 April

  Amazon Expands its Amazon One Pay by Palm Technology to Whole Foods Stores

  

  Amazon.com Inc. is expanding its Amazon One biometric payment technology to Whole Foods stores in Seattle. Amazon, which launched Amazon One in its two Seattle Amazon Go stores last September, will initially roll the technology out to a Whole Foods store near its headquarters and eventually to seven more stores …
• 19 April

  San Francisco Becomes the Fourth Transit System to Adopt Cubic’s Contactless Payment App

  

  San Francisco late last week became the fourth city to roll out Cubic Transportation Systems’ mobile contactless-payment application, joining Washington D.C., Chicago, and Los Angeles. Consumers can use the white-label app and an iPhone or Apple Watch to purchase tickets from the 24 transit agencies that operate the city’s subway, …
• 16 April

  As Covid Restrictions Ease, Consumers Are Using Debit Cards for Hotels, Motels, And Auto Rental

  

  More evidence emerges of how consumer spending has changed in the past year. Consumers are using their debit cards more for transactions at hotels and motels within the travel sector, according to the PSCU Payments Index for April. Released Thursday, the index shows that debit card use accounted for 35% …
• 5 April

  Looking to Serve Bigger Payments, Nacha Sets a $1 Million Same-Day Limit for March 2022

  Nacha on Monday announced it will raise its dollar limit on same-day transactions 10-fold to $1 million starting next March. The move, which will come only two years after the governing body for the automated clearing house network raised the cap to $100,000 from the original $25,000 limit, comes as …
• 2 April

  An Acquisition of AxiaMed Helps BofA’s Effort to Rebuild Its Acquiring Business

  

  With its acquisition of Axia Technologies Inc., also known as AxiaMed, Bank of America Corp. took a big step toward rebuilding its merchant-acquiring business. AxiaMed provides financial services and payments technology to health-care providers. Terms of the deal were not disclosed. The acquisition, announced Friday, gives Bank of America a …