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June, 2024

• 18 June

  Apple Pay Later Is Shutting Down in Favor of Third-Party BNPL Providers

  

  Apple Pay Later, the buy now, pay later product from Apple Inc. released just over a year ago, is shutting down. The move comes after installment-payment specialist Affirm Inc. confirmed it would be part of Apple Wallet when the tech giant’s annual software updates for iPhones and computers emerge this …
• 13 June

  CardFree Enlists AI To Get Consumers To Spend More

  

  Everyone has encountered the upsell. It’s the extended-warranty offer when buying a TV, or the ask to add a Danish to the coffee you just purchased. Now, CardFree Inc. has released a tool to help merchants automate the upsell with its new Smart AI Upsell feature. A component of CardFree’s …

May, 2024

• 23 May

  Processors Scramble to Offer Tap to Pay on iPhone As Apple Launches the Technology in Canada

  

  Tap-to-pay technology for ordinary smart phones is a relatively recent development, but payments companies aren’t wasting any time offering it as it spreads into new countries. The latest example comes from Canada, which became the latest market expansion Thursday for Apple Inc.’s tap to pay on iPhone technology. The first …

April, 2024

• 19 April

  Time Will Tell on How Soon Pay by Bank Goes Mainstream

  

  Open banking, the ability for third-party developers to access financial data in traditional banking systems, as defined by Stripe Inc., may provide one component for a new payment type, at least one that has limited use today. Pay by bank, a payment method that enables an online payment without the …
• 3 April

  PayPal And Venmo’s Visa+ Entry Could Aid Interoperable P2P Payments

  

  Enrolling PayPal and Venmo into the Visa+ interoperable peer-to-peer payments system may help foster even more P2P transactions, an analyst says. Visa Inc. earlier this week announced the two P2P wallets from PayPal Holdings Inc. had been enabled in the United States for Visa+. Users can sign up for a …

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 …