News

October, 2023

• 3 October

  Nuvei Works With Solutions By Text for Embedded Bill Pay And Gains a Footprint in China

  

  Solutions by Text is adding embedded bill-payment capabilities to its FinText messaging and payments platform. Consumers will now be able to pay bills through the FinText platform without leaving the platform’s Web site or mobile app, which creates a more convenient payment experience, the company says. Transactions will be processed …
• 3 October

  SpotOn Retreats From Stadiums to Focus on the Restaurant POS Market

  

  Count one less competitor in the market for advanced point-of-sale technology at stadiums. Shift4 Payments Inc. has agreed to buy SpotOn Transact Inc.’s sports and entertainment business for $100 million in a move that beefs up Shift4’s position in the burgeoning stadium market and marks a retreat by SpotOn from …
• 3 October

  FedNow Tally at 108, up from 35 And Other Digital Transactions News briefs from 10/3/23

  

  The Federal Reserve said FedNow, its real-time payments service that launched in July with 35 banks and credit unions, now counts 108 participating institutions with 21 others providing liquidity and settlement services and 20 service providers. Kenneth C. Montgomery, the Federal Reserve Bank of Boston first vice president and chief operating officer who spearheaded …
• 2 October

  Experian Launches a Checking Account With a Debit Card in a Move to Boost Credit Scores Faster

  Experian PLC on Monday launched its Smart Money digital checking account and debit card. The product is part of the credit bureau’s strategy to offer consumers with no or minimal credit histories an opportunity to quickly build a credit score. To that end, Experian has embedded in the new product …
• 2 October

  Eye on Fraud: Visa Taps Expel for Cybercrime Duties; McAfee Enlists AI for Scam Detection

  

  It’s a sobering part of the daily payments arena—fraud is unending and always evolving. That’s why payments and anti-fraud companies continue to create new services in an effort to keep up with the latest scams. Visa on Monday said it would make managed detection and response services from Expel Inc. …
• 2 October

  Exchange Bank Picks Pidgin for Real-Time Payments And Other Digital Transactions News briefs from 10/2/23

  

  Payments-technology platform Pidgin said it has agreed to provide real-time payments capability to retail and commercial account holders at Exchange Bank. AffiniPay LLC, a payments platform for professional-services firms, has sold its accounting-software unit, Soluno, to ActionStep, a provider of practice-management technology. Terms were not disclosed. The U.S.-based blockchain firm Coinbase Inc. announced it …

September, 2023

• 29 September

  Visa’s Friendly Fraud Rule Change Could Cut $1 Billion From Small Firms’ Chargeback Costs

  

  Visa Inc. is touting recent changes to how chargebacks that could be first-party fraud, also known as friendly fraud, are processed as potentially saving small businesses globally $1 billion in costs over the next five years. Expectations are that the streamlined process will increase merchants’ ability to provide more accurate …
• 29 September

  COMMENTARY: Banks Must Embrace Fintechs If They Want to Reshape the Future of Global Payments

  

  The world of global payments is undergoing major changes as new technologies and players enter the payment space. While banks and financial institutions have historically dominated international payments, we are seeing new innovations and non-traditional competitors redefine how money moves across the globe. In recent years, the entire payments chain …
• 29 September

  TNS Lines up 1,500 ATMs Contract And Other Digital Transactions News briefs from 8/29/23

  

  U.S.-based network-management company Transaction Network Services said its technology will manage connectivity for Spain-based Euro Automatic Cash, a network of 1,500 ATMs. Tiptap, a donation platform, said it will enable Visa member financial institutions to offer customers a platform to make small donations to community charities while they are performing routine banking …
• 28 September

  Shift4 Looks to Bring Amazon’s Just Walk Out Checkout to Stadiums And Other Venues

  

  Shift4 Payments Inc. announced Thursday it is integrating Amazon.com Inc.’s Just Walk Out technology into its VenueNext application for sports stadiums and other arenas. The big payments processor says it will introduce the checkout system at the United Center in Chicago, a venue where Shift4 already provides processing for purchases …