Person-to-Person Payments

Sweeping regulation that would have impacted all major mobile-payment apps in the United States appears to be headed for the dustbin following action by the House of Representatives Wednesday to vote down a bill based on regulation from the Consumer Financial Protection Bureau. The House action follows a Senate vote …

Zelle, the peer-to-peer payments service from Early Warning Services LLC, took steps late Thursday to clear up misperceptions concerning its decision to limit the capabilities of the Zelle standalone app. As of April 1, app users can no longer transact or enroll in Zelle. Instead, the app will become more …

MoneyGram International Inc. said it will adopt Mastercard Move, the card network’s cross-border money-transfer application. Mastercard Move will enable MoneyGram users to initially send cross-border payments to 38 markets. Additional markets are expected to come online throughout the year. MoneyGram customers can receive payments through MasterCard Move at nearly 10 …

The Independent Community Bankers of America said its ICBA Payments subsidiary is working with Mastercard Inc. to offer upgraded and enhanced card and payment services for 1,400 community banks. Mastercard will manage all cardholder communication and marketing while ICBA Payments will move its sponsored card programs to Mastercard at no cost and …

The Consumer Financial Protection Bureau late Tuesday dropped its lawsuit against Early Warning Services LLC, operator of the Zelle person-to-person payments network. The suit had also named Bank of America, JPMorgan Chase, and Wells Fargo as defendants. The financial institutions are three of the seven bank owners of Early Warning. …

A 3-year-old technology enabling merchants to accept contactless payments using a regular smart phone with no special hardware has bloomed with a global year-over-year growth rate of 200%. That rate is even higher in the United States, United Kingdom, and Brazil, the three countries with the highest adoption rates, Visa …

Sightline Payments, a specialist in payments for the gaming industry, announced it has completed a recapitalization, with participation from “most” existing major investors. The 15-year-old company estimates the U.S. digital gaming industry at $30 billion in annual revenue. Generation Z is overwhelmingly adopting digital-payment methods, with 92% using peer-to-peer payment …

Bank of America Corp. customers using Zelle initiated a record 1.6 billion transactions totaling $470 billion in 2024. Transaction volume increased 25%, and dollar volume 26%, last year compared to 2023. Zelle has become more popular than checks as a payment method, with Zelle transactions nearly triple the number of …

Thesis, a venture-financing platform, said its client Fold Holdings Inc. has become the first Bitcoin-related company to go public on the Nasdaq. Fold, trading under the symbol FLD, enables users to earn Bitcoin as rewards on ordinary purchases. Payments processor RevitPay appointed Jack Berry chief revenue officer. Berry formerly was an executive with PaymentCloud. …

Cash App was a big growth driver last year for Block Inc. and is expected to remain so as 2025 unfolds, the company said during a conference call late Thursday to discuss Block’s fourth-quarter results. Block is the parent company of the Square and Cash App businesses. During the last …