With nearly 1 out of 5 shoppers abandoning their carts due to a long or complicated checkout process, today’s merchants are challenged to close retail sales. Combine this with the fact that many merchants have not updated their payment systems in two years, and the result is an inability to …
Read More »Fiserv Reports Its Merchant Acceptance Revenue Was up 11.8% in the Latest Quarter
With thousands of merchants across the globe, processing powerhouse Fiserv Inc. continues to reap the benefits of that reach with an 11.8% increase in its merchant-acceptance revenue in the third quarter. Heavily affecting the segment’s growth was a 19% increase in revenue from Fiserv’s Clover point-of-sale products and services and …
Read More »Visa’s Top Executives See Little Impact from the Fed’s Ruling on Debit Transaction Choice
It was only a matter of time before the two big international card networks responded to a recent Federal Reserve requirement that issuers make at least two unrelated networks available to merchants for debit card transactions. Late Tuesday, Visa Inc.’s chief financial officer, Vasant Prabhu, said the impact of the …
Read More »Same-Day Payments Continue to Pay off in Volume Gains for the ACH Network
While the payments business moves toward real-time transfers, faster payments on the nation’s automated clearing house network continue their dramatic rise following a 10-fold increase in the transaction dollar limit earlier this year. Transactions cleared the same day they’re initiated totaled 176.6 million in the quarter ended Sept. 30, up …
Read More »Jack Henry’s New P2P Payments Platform And Other Digital Transactions News briefs from 10/25/22
Financial-services technology provider Jack Henry & Associates Inc. launched a real-time peer-to-peer payments platform, based on the Digital Payments Platform from the payments-technology firm Payrailz. Jack Henry acquired Payrailz in September for undisclosed terms.Gr4vy, a U.S.-based payments-technology provider, said Australia’s Woolworths Group will use the company’s payments-orchestration platform to run the retailer’s Wpay service. …
Read More »Fintechs Now See Open Banking Technology As on the Edge of Mass Relevance
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 …
Read More »BNY Mellon Launches Vaia, a Multi-Faceted Platform That Includes Real-Time Payments
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 …
Read More »Samsung Eyes 13 New Markets for Samsung Wallet
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 …
Read More »In the Wake of a Senate Probe of Zelle Fraud, the Network’s Parent Issues a Pointed Defense
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 …
Read More »For Real Time Payouts, Remitly Adds Visa Direct in Canada
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 …
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