News

June, 2023

• 2 June

  Payments Tech Giant Stripe Launches a Charge Card Program for Small Businesses

  

  Eyeing an opportunity among cash-strapped small businesses, Stripe Inc. has jumped into the virtual credit card game with the launch of a charge card program for Stripe Issuing, the San Francisco-based processor’s commercial card program. The new program will be offered through fintechs serving small businesses. Announced late Thursday, the …
• 2 June

  CFPB Notes Payment App Insurance Lacking And Other Digital Transactions News briefs from 6/2/23

  

  The payments industry is beginning to react to a report this week from the Consumer Financial Protection Bureau alerting consumers to the lack of federal deposit insurance for funds held in nonbank payment apps. The CFPB’s report appears to be a cautionary note rather than a call for regulation, at least for …
• 1 June

  Cross River And Paymints Enable Real Estate Payments Via the ACH

  

  Cross River Bank and Paymints.io Corp., a software-as-a-service platform provider for real estate payments, are teaming up to enable real-estate payments through the automated clearing house. The service will utilize the ACH rails, including same-day ACH payments, as well as wire transfers, to facilitate such payments as earnest money, cash …
• 1 June

  Eye on Wallets: Google Wallet Adds Driver’s License Storage; Alipay’s Apple Pay Integration

  

  Google Wallet is adding the ability to store a digital image of a state-issued ID card along with several other features announced Thursday. In related news, Alipay, a China-based digital wallet with an estimated 1.3 billion users, is enabling users to add Alipay to their Apple IDs for use with …
• 1 June

  J.P. Morgan’s New Marketplace And Other Digital Transactions News briefs from 6/1/23

  

  J.P. Morgan launched its Payments Partner Network, a cloud-based online marketplace for payments providers integrated with the banking giant’s payments platform. The marketplace’s technology is supported by Salesforce. Five-year-old cryptocurrency-wallet provider Magic raised $52 million in a funding round led by PayPal Ventures. The round brings Magic’s total raise to $80 million. Digital …

May, 2023

• 31 May

  Affirm Expands its Global Reach Through a Partnership With FIS’s Worldpay

  

  BNPL provider Affirm Holdings Inc. has struck a multi-year partnership with payment processor Worldpay to make its Adaptive Checkout solution available to Worldpay merchants. The deal will enable Worldpay merchants to offer consumers bi-weekly and monthly payment options. Worldpay is a unit of the big processor FIS Inc. The deal, …
• 31 May

  As New Services Roil P2P, Fiserv Gets Set to Shut Down Its Popmoney Network

  

  Fiserv Inc. will discontinue its longstanding Popmoney peer-to-peer payments service on June 30, the processing giant said, following notices being posted by participating banks. The move comes as the processing giant shifts its priorities to supporting the bank-owned Zelle network, according to a Fiserv spokesperson. “Due to the tremendous success …
• 31 May

  ACI Picks New CEO And Other Digital Transactions News briefs from 5/31/23

  

  ACI Worldwide Inc. named Thomas Warsop its president and chief executive effective June 1. Warsop continues to be a member of ACI’s board of directors, which he joined eight years ago. He had served as interim president and CEO since November following the departure of Odilon Almeida, who held that role since …
• 30 May

  Friendly Fraud Is on a Sharp Rise, Chargebacks911 Finds

  

  So-called friendly fraud is a growing problem for many merchants. A report from chargeback-management firm Chargebacks911 reveals that nearly three quarters of the 300 merchants surveyed have seen a 19% increase in illegitimate chargebacks on average so far in 2023 compared to the same period last year. At the same …
• 30 May

  Disbursement Platform Onbe Adds PayPal And Venmo

  

  Citing a strong user preference for PayPal and Venmo, the digital-disbursements provider Onbe early Tuesday said it is adding the two channels to its menu of payment choices. The move brings two major payments platforms to the Chicago-based company’s payout options, which includes the mobile -payments providers Apple Pay and …