Person-to-Person Payments

Open banking is getting closer to mass relevance for financial-technology companies. A study released Monday by Discover Global Network and 451 Research found that fully 78% of fintechs said open banking is relevant to their business. One likely factor behind that trend is the positive consumer sentiment that fintechs are …

BNY Mellon announced early Monday it has launched a payments platform called Vaia, which allows clients to offer real-time payments, same-day automated clearing house transfers, tokenized payments, debit cards, and payments through the Zelle peer-to-peer payments network. The nation’s 10th-largest bank by assets said the panoply of payments capabilities can …

Consumer electronics giant Samsung Electronics is looking to expand to 13 new markets for its Samsung Wallet service. Announced Friday, the expansion of the digital-wallet platform will more than double its presence from the eight nations where it is already available. Samsung Wallet is the new brand for the combined …

The controversy regarding fraud and scams on the Zelle peer-to-peer payment network reached a new level on Thursday with a short statement from Early Warning Services LLC, the bank-owned company that operates Zelle, referring to “misleading reports of fraud and scams” on the network and “incomplete” external analysis from outside …

Remitly Global Inc. Thursday announced it is making Visa Direct, Visa Inc.’s real-time push-payments platform, available to its customers in Canada. The deal expands Remitly’s online remittance service in Canada by providing Visa Direct as a payout option, the company says. With Visa Direct, Remitly customers in Canada can now …

Pressure from the Senate Banking Committee on Early Warning Systems LLC, operator of the Zelle peer-to-peer payment network, is rising as committee members continue to press Early Warning for information about the extent of fraud on the network. A report released by Sen. Elizabeth Warren’s office late Monday charges that …

Despite economic headwinds from supply-chain bottlenecks and geopolitical instability, the payments industry continues to show resilient revenue growth, says a new report from the Boston Consulting Group. Global payments revenues are projected to grow about 9.5% in 2022, according to the report. Beyond this year, revenues are projected to grow …

As payments fraud grows more threatening by the year, a report on Thursday from the governing body for the automated clearing house network recommends the payments industry shift its emphasis from combatting unauthorized debits to preventing crimes involving credit payments. Dubbed a “new risk-management framework,” the recommendation issued by Nacha …

Adyen Inc. has become the first third-party processor to offer Block Inc.’s Cash App mobile wallet to merchants. The news comes hard on the heels of reports earlier this month that Block had opened its Cash App wallet for payments to e-commerce merchants outside the Square seller network. Square is …

Underscoring the rapid growth of digital payments between individuals, the Zelle Network early Thursday celebrated five years in business with numbers showing it has processed more than 5 billion transactions worth almost $1.5 trillion. In that time, almost 1,700 banks and credit unions have added Zelle to their mobile apps, …