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March, 2024

• 21 March

  Volume for the Top 50 ACH Banks And Credit Unions Increases 5.7% in 2023

  

  The top 50 originating financial institutions on the automated clearing house network hit nearly 27.7 billion in payments in 2023, a 5.7% increase over 2022, Nacha says. Volume for the top 50 receiving FIs was almost 20 billion payments in 2023, a 6.4% increase from 2022. Herndon, Va.-based Nacha says …

February, 2024

• 14 February

  FIS’s Pay by Bank Path And Other Digital Transactions News briefs from 2/14/24

  

  FIS Inc. said it is working with Banked, an open-banking provider, to develop new pay by bank services for businesses and consumers. Gateway provider Trice Technologies Inc. said it is a technology provider and real-time payments gateway for the RTP network from The Clearing House Payments Co. LLC. Web services and payments provider GoDaddy …
• 13 February

  Radial Adds Link Money’s Pay by Bank for Account-to-Account Payments

  

  E-commerce platform Radial Inc. is giving its merchants a new payment option that bypasses traditional credit and debit card payments and instead relies on account-to-account transfers. Dubbed Pay by Bank, the service was developed by Link Financial Technologies Inc., which does business as Link Money, an open-banking platform. King of …
• 1 February

  High Costs And Fraud Risk Drive Sellers’ Dissatisfaction With Card Processing, J.D. Power Finds

  

  Small businesses tend to be less satisfied with their credit and debit card processing than they are with processing for alternative payments, according to a study by J.D. Power. Based on a 1,000-point scale, with 1,000 being the highest score, merchant-satisfaction scores for credit card processing averaged 692, while scores …

January, 2024

• 4 January

  Talus Pay’s New Year Starts With Two Acquisitions

  

  Payments provider Talus Pay announced two acquisitions on Thursday, indicating it acquired Clarus Merchant Services and Jobox.ai in separate deals. Total annual payments volume for the newly combined company total $9 billion for more than 22,000 U.S. merchants. Dallas-based Talus Pay says Clarus Merchant Services, based in Gaithersburg, Md., provides …

December, 2023

• 6 December

  Pidgin Partners With Modern Banking Systems to Bring Real-Time Payments to Small Banks

  

  Payments-platform provider Pidgin Inc. will work with Modern Banking Systems, a provider of core bank-processing technology, in an effort to bring real-time payments capability to community banks. Pidgin’s platform supports real-time processing through multiple payment rails, including FedNow and The Clearing House Payments Co.’s Real-Time Payments network. The deal was …

November, 2023

• 14 November

  Some Merchants Take Issue with the CCCA

  

  Small businesses claim they have legitimate concerns that their larger counterparts will be the beneficiaries of lower card acceptance costs should the Credit Card Competition Act become law, argues the Small Business Payments Alliance, a trade organization recently formed by the Electronic Payments Coalition. Among the concerns about how the …

October, 2023

• 10 October

  GoDaddy Says It Will Integrate Early Warning’s New Paze Online Checkout, Now Coming in 2024

  

  Paze, an online wallet still in development, will be available to merchants using GoDaddy Inc.’s Web services. Paze is available for testing to select U.S. businesses on the GoDaddy platform. In March, at the announcement of Paze, Early Warning Services LLC, its developer, said full availability would arrive this autumn, …
• 5 October

  Small-Screen Shopping Set To Dominate 2023 Holiday Spending

  

  One of the first forecasts for the upcoming 2023 holiday shopping period predicts that mobile devices will overtake desktop ones for e-commerce for the first time. Adobe Inc., in its Nov. 1-to-Dec. 31 holiday-shopping forecast, released Thursday, forecasts that U.S. online holiday sales will reach $221.8 billion, a 4.8% increase …

September, 2023

• 21 September

  How Failed Payments, Slow Payments, and Errors Bedevil Organizations

  

  Consumers have come to expect an electronic payment to happen in seconds with zero or few errors, but for organizations the situation is a little more fraught. At least that’s the feedback from a new report, “The State of Payment Operations 2023,” from Modern Treasury Corp., a payments and financial …