MoneyGram International Inc. announced Tuesday it will launch in the first quarter next year a non-custodial digital wallet that will support stablecoins. The wallet’s support of stablecoins—digital currency tied to the value of a national fiat currency, such as the dollar— will enable consumers to move from fiat currency to …
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FlexPoint announced its launch as a payments platform for so-called managed-service providers, or organizations that provide information-technology services to companies. Flexpoint also announced a long-term financing program for clients through GreatAmerica Financial Services. Automaker Mitsubishi Electric said it has enlisted BlackBerry Ltd. to supply in-vehicle data services, including digital payments. Commerce-technology provider Treez launched new payments …
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Most bankers know that today’s payments are broken. From keeping pace with evolving customer experiences, to navigating the changing regulatory environment, to overcoming competitive threats from nonbanks, many have become so frustrated they are debating whether to abandon some in-house payments channels entirely. Consumers, too, are becoming frustrated with the …
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Supporters and U.S. Senate sponsors of the Credit Card Competition Act stepped up pressure to pass the bill Wednesday with a Washington press conference featuring Senators Dick Durbin (D-Ill.), Roger Marshall (R-Kan.), and Peter Welch (D-Vt.). The legislators attacked merchants’ card-transaction costs as price gouging and said the levies make …
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Innovative Payment Solutions Inc. announced it has completed the second of three $500,000 capital contributions to IPSIPay Express LLC, a joint venture aimed at processing digital payments in the sports-betting and online-gaming markets. Partnering with IPSI in the venture are OpenPath and eFinityPay. Reports indicate a security breach at T-Mobile exposed sensitive data, …
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Wise Transfer Ltd., a developer of software for cross-border transfers, announced its Wise Platform will complete transactions initiated through the Swift international payments platform at the option of financial institutions. In related news, IBM Corp. announced its IBM Payments Center, a software-development unit, has joined the Swift Partner Program, gaining access to …
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The federal court overseeing a $5.54-billion settlement between millions of card-accepting merchants, on one hand, and Visa Inc. and Mastercard Inc., on the other, over interchange costs recently took several steps that ultimately could get payments out to merchants. But checks still won’t be in the mail for some time. …
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Airlines Reporting Corp. announced it has started processing payments through its ARC Pay application programming interface for the online travel agency Business Travel Group LLC’s Business Class brand. The Western Union Co. announced it will offer free money transfers for funds consumers around the world send to Libya in the wake of severe …
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A growing volume of cross-border transactions is fueling the development of real-time payment services, according to a new report from Bank of New York Mellon Corp. and research firm Datos Insights. The report also says businesses stand to lose if they’re slow to invest in real-time payments. Some 80% of …
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Commerce platform FreedomPay said it will begin offering point-of-sale devices from Pax Technology Inc. in the second quarter next year. Visa Inc. announced it will deploy its real-time payments network, Visa Direct, to allow users of United Kingdom-based money-transmission platform Paysend to route payments to eligible Visa cards in 170 countries and territories. …
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