Real-time Payments

September, 2023

• 21 September

  IPS Advances IPSIPay Funding And Other Digital Transactions News briefs from 9/21/23

  

  Innovative Payment Solutions Inc. announced it has completed the second of three $500,000 capital contributions to IPSIPay Express LLC, a joint venture aimed at processing digital payments in the sports-betting and online-gaming markets. Partnering with IPSI in the venture are OpenPath and eFinityPay. Reports indicate a security breach at T-Mobile exposed sensitive data, …
• 20 September

  Freedom Pay Links With Worldpay And Other Digital Transactions News briefs from 9/20/23

  

  The payments platform FreedomPay said it is expanding its partnership with the processor Worldpay to cover more geographic markets globally. FIS Inc. in July agreed to sell a 55% interest in Worldpay to the private-equity firm GTCR in a deal expected to close in 2024’s first quarter. Buy now, pay later specialist Sezzle Inc. announced an …
• 14 September

  Cross-Border Options Are Among Factors Driving Real-Time Payments Growth, a Study Finds

  

  A growing volume of cross-border transactions is fueling the development of real-time payment services, according to a new report from Bank of New York Mellon Corp. and research firm Datos Insights. The report also says businesses stand to lose if they’re slow to invest in real-time payments. Some 80% of …
• 14 September

  FreedomPay’s Cross-Border Platform And Other Digital Transactions News briefs from 9/14/23

  

  Commerce platform FreedomPay said it will begin offering point-of-sale devices from Pax Technology Inc. in the second quarter next year. Visa Inc. announced it will deploy its real-time payments network, Visa Direct, to allow users of United Kingdom-based money-transmission platform Paysend to route payments to eligible Visa cards in 170 countries and territories. …
• 11 September

  A Top Fed Official Points to Real Time Payments Progress While Eyeing Stablecoins Skeptically

  

  The Federal Reserve seeks to work closely with private-sector instant-payment services and plans to carve out a regulatory role to govern developments in stablecoins, a top official at the Fed said Friday. The remarks come in the wake of the Fed’s launch in July of its FedNow real-time payments network. …
• 8 September

  Square Outage Disrupts Transactions And Other Digital Transactions News briefs from 9/8/23

  

  Block Inc.’s Square and Cash App units began experiencing system outages late Thursday, according to news reports. Cash App’s outage reportedly affected peer-to-peer payments, cash-ins, and cash card transactions. At Square, engineers reported early Friday they were deploying a solution. Point-of-sale system maker iPOS Systems has enabled Tap to Pay on iPhone for U.S. …
• 5 September

  Visa Moves Blockchain Into Acquiring With a Pilot for Merchant Processors

  

  Visa Inc., which has been working with blockchain-based currencies at least since the start of the decade, on Monday said it is starting to expand its cryptocurrency services into merchant acquiring, largely for cross-border transactions. The move, which Visa calls a “pilot project,” involves the major merchant processors Worldpay and …

August, 2023

• 29 August

  Snack POS Adds PAX Devices And Other Digital Transactions News briefs from 8/29/23

  

  Restaurant point-of-sale provider Snack POS has agreed to offer EMV terminals from Pax. Soundhound AI Inc., a specialist in artificial intelligence, said it will work with online-ordering platform ChowNow to help restaurants answer and respond to customer calls. Payments provider Nayax Ltd. is working with loyalty-technology platform Giift to enable consumers to convert loyalty …
• 28 August

  VSoft’s Real-Time Pidgin Integration And Other Digital Transactions News briefs from 8/28/23

  

  VSoft Corp., a specialist in financial-services technology, said its core-processing and digital-banking platforms are processing real-time transactions through an integration with instant-payments provider Pidgin. Payments providers ACI Payments and Link2Gov Corp. have been awarded Internal Revenue Service contracts worth $2.07 billion to support credit and debit card payments for taxes and user …
• 21 August

  The U.K.’s Paysend Eyes U.S. P2P Payments Among Hispanics

  

  Paysend Group is embarking on a campaign to make its name known among U.S. Hispanic peer-to-peer payments users with an advertising campaign and an offer of fee-free money transfers to Latin America, at least initially. Having opened a U.S. office in 2022, London-based Paysend hopes its advertising campaign, which debuts …