News

November, 2020

• 23 November

  Western Union’s Real-Time Payments Service Reaches a100-Country Milestone

  

  The Western Union Co.’s  real-time digital payout service for sending money real-time to bank accounts, digital wallets, and cards, is now available in 100 countries. The service, which was announced in September 2019 at Western Union’s investor day conference, leverages Western Union’s more than 40 banking and payment partnerships covering more than …
• 23 November

  ATM Operators Praise a Proposed OCC Rule That Would Wipe Away Years-Old Regulatory Roadblocks

  

  Independent ATM operators are lauding a proposed rulemaking from the federal Office of the Comptroller of the Currency they say would correct a history of denial of access to banking services for entrepreneurs that install and operate ATMs in retail stores and other locations. Observers say the rulemaking, if adopted, …
• 23 November

  Visa Commercial Pay Debuts and other Digital Transactions News briefs from 11/23/20

  

  Visa Inc. has formed a partnership with virtual-payments technology provider Conferma Pay to launch Visa Commercial Pay, a venture in virtual commercial cards. Available globally, the suite will be available from Visa’s financial institution clients. Visa and Conferma Pay have a long-standing relationship. “Consumerization of [business-to-business] payments has significantly accelerated during …
• 20 November

  XTM Announces an Unsecured Visa Card With a Dynamically Determined Credit Line

  

  Credit cards historically have either been secured by a deposit or tied to a credit limit that remains fixed over time. On Friday, a Toronto-based payments-technology provider announced it is developing an unsecured card that comes with a credit line that varies with cardholder behavior. The Visa-branded Vert card, managed …
• 20 November

  Gateways Adapt to E-Commerce As They Contend With Covid-19’s Impact

  

  The Strawhecker Group’s most recent analysis of 100 payment gateways found that half of them charge a monthly fee, down from 74% in 2019. That is potentially because of the impact of the Covid-19 pandemic, the report says. Other findings show that 52% of all gateways focus on retail, followed …
• 20 November

  68% of Consumers Will Use Contactless Payments and other Digital Transactions News briefs from 11/20/20

  

  A Discover Financial Services survey found that 68% of consumers said they will use contactless payments more to avoid touching public surfaces and 66% would use less cash because of the Covid-19 pandemic. The survey of 2,000 U.S. adults also found that 35% said they plan to spend less this holiday shopping …
• 19 November

  A Revamped Google Pay Seeks Wider Appeal by Pushing Beyond Payments

  

  Alphabet Inc.’s Google unit on Wednesday announced a major overhaul of its 5-year-old Google Pay wallet to push beyond mobile payments and incorporate links and data Google says will generate daily usage. The move comes as major payment apps such as Apple Pay and Google Pay have sought to boost …
• 19 November

  Eye on BNPL: Klarna Adds 1 Million Customers in 3 Weeks And Affirm Readies an IPO

  

  Consumers appear to be flocking to buy now, pay later options. Evidence of that comes from Klarna US, which says it gained 1 million customers in three weeks, pushing its total to 11 million. It has grown from 9 million customers only since August. Among the reasons for the rapid …
• 19 November

  Payroc Acquires Bluestone Payments and other Digital Transactions News briefs from 11/19/20

  

  Payroc World Access LLC announced the acquisition of Bluestone Payments LLC, an independent sales organization founded by Linda Rossetti. Rossetti will remain Bluestone president and take on the executive vice president, strategic initiatives, role at Payroc. Terms were not disclosed.Payments processor Nuvei Corp. said its Nuvei Technologies Inc. unit has been approved by …
• 18 November

  InComm Brings Cashless Payments to Sports And Entertainment Venues Via Prepaid Cards

  

  With the Covid-19 pandemic surging across most of the United States, sports and entertainment venue operators are looking for ways to convert cash transactions to cashless payments. In response, Atlanta-based InComm Payments on Wednesday announced the Jacksonville Jaguars organization of the National Football League is allowing consumers to exchange cash …