Person-to-Person Payments

When Alex Chriss took over in September as PayPal’s chief executive, he promised to shake up what he saw as a complacent payments engine. Now, the company is starting to see some tangible results from Chriss’s moves, though the new boss isn’t entirely satisfied. “We know there is much more …

July 20 marks the one-year anniversary of the debut of FedNow, the Federal Reserve’s real-time payment service. It also marks the anniversary of the payments industry letting its breath out in anticipation of the launch. Since then, both FedNow and its fellow faster payments providers have all benefited from the …

Payment-processing software provider Aurus Inc. said it will work with Early Warning Services LLC to integrate EWS’s Paze online checkout technology, with Aurus user Wakefern Food Corp. having already adopted Paze. Cash App will leave the United Kingdom market, having launched there in 2018, it announced in a Web post. The service will shut down …

Since the 2016 launch of same-day automated clearing house payments, the payment type has done nothing but grow. The 2024 second quarter is no exception, with the latest figures showing 292.3 million transactions, a 46.6% increase from 199.4 million in 2023’s second quarter, according to Nacha, which administers the ACH …

J.D. Power announced early Monday the launch of a mobile-banking app certification program. The program is intended to recognize app providers that deliver an exceptional user experience, the company says. The J.D. Power Mobile App Platform Certification-Banking program rates mobile apps using a set of 146 best-practices benchmarks, including app …

The Clearing House Payments Co. LLC reported early Wednesday its 7-year-old RTP service on June 28 exceeded $1 billion in daily volume for the first time. TCH waited a week and a half to disclose the milestone as it worked out what the factors were behind the record-setting performance, only …

Contactless payments are forecasted to surge 113% in value by 2029, reaching $15.7 trillion by 2029, up from $7.4 trillion this year, predicts a new report from Juniper Research. Ticketing and soft point-of-sale applications will be significant drivers of this growth, United Kingdom-based Juniper says. “As access becomes more widespread, …

Open-banking technology provider Plaid Inc. is pairing-up with The Western Union Co. to bring its account-verification services to the wire-transfer giant’s European customers. Under the so-called collaboration San Francisco-based Plaid announced Thursday, Western Union will be able to tap Plaid’s open-banking system for account verification, thereby simplifying remittances and digital …

Point-of-sale technology provider Verifone will integrate self-checkout technology from Mashgin in its Verifone Commander system at approximately 50,000 convenience stores, said to be roughly 40% of all U.S. c-stores. Zelis, a technology provider for health care, launched its Zelis Advanced Payments Platform to handle claims payments for health insurers. The Western Union …

The Consumer Financial Protection Bureau’s victory at the Supreme Court on Thursday answers for now the question of its constitutionality and may quiet the agency’s critics, who view it as a largely unnecessary agent of federal power operating with an overly aggressive agenda. But some payments experts fear the decision, …