Real-time Payments

August, 2023

• 11 August

  Former BMO Executive Fowler Takes Over at Zelle Parent Early Warning

  

  Early Warning Services LLC, which operates the Zelle peer-to-peer payment network, announced early Friday it has appointed Cameron Fowler as chief executive, effective October 2, 2023. Fowler replaces Albert Ko, who left the company in May to become CEO of Auctane, which provides shipping software and operates such brands as …
• 8 August

  BitPay Adds Bill Payment to Its Crypto Wallet

  

  BitPay Inc. expanded the payment capabilities of its cryptocurrency wallet Tuesday with inclusion of bill payment. BitPay users can now pay bills with digital currency at more than 5,000 billers, the Atlanta-based company says. To enable bill payment, BitPay has partnered with Method Financial, an Austin, Texas-based provider of embedded …
• 3 August

  PayPal Revenue at $7.3 Billion And Other Digital Transactions News briefs from 8/3/23

  

  PayPal Holdings Inc. reported $7.3 billion in June-quarter net revenue, up 7% year-over-year, as total payment volume grew 11% to $376.5 billion. Payment transactions were up 10%, to 6.1 billion. Total active accounts increased only slightly to 431 million from 429 million a year ago. Net income swung from a loss …
• 2 August

  Financial Institutions Are Embracing The Clearinghouse’s Request for Payment Capabilities

  

  The Clearing House Payment Co. LLC, operator of the Real Time Payments network, said Wednesday that more financial institutions are making use of its Request for Payment capabilities. Request for payment has been a feature of The Clearinghouse’s real-time payments network since it launched more than five years ago. The …

July, 2023

• 27 July

  Mastercard Is ‘Ready To Compete’ for Online Debit Volume, Says CEO Miebach

  

  With payments-industry competition rapidly getting more intense, long-established players such as Mastercard Inc. could lose out if they don’t change with the times. But Mastercard’s chief executive signaled Thursday that change is just what his company is doing. “We stand ready to compete,” declared Michael Miebach during Mastercard’s second-quarter earnings …
• 27 July

  Tap to Pay in North America And Other Digital Transactions News briefs from 7/27/23

  

  Payments-technology provider Aevi said it is working with contactless-technology firm Bleu to offer tap-to-pay functionality in North America and Europe on both Android and iPhone devices. Cross River Bank said it will enable an expanded menu of payment options through open-banking platform Plaid, including instant transfers for payroll and other applications. Payments provider Lightspeed …
• 26 July

  Euronet’s Growth And Other Digital Transactions News briefs from 7/26/23

  

  Payments provider Euronet Worldwide Inc. said its money-transfer segment handled 41.1 million transactions in the second quarter, up 10% from 37.3 million a year earlier. The U.S. Treasury Department’s Office of the Comptroller of the Currency, which regulates national banks, assessed a $15 million civil fine against American Express Co.’s American Express National …
• 24 July

  The Clearing House’s RTP Network Surpasses 500 Million Payments

  

  Six years after its launch, the RTP Network surpassed 500 million real-time payments on Saturday, network operator The Clearing House Payments Co. reported Monday. The announcement at least temporarily shines the spotlight back onto the current leader in real-time payments in the wake of last week’s much-anticipated launch of the …
• 21 July

  Finzly and Other Providers Add FedNow Support And Other Digital Transactions News briefs from 7/21/23

  

  Service provider Finzly said it supports the FedNow real-time payments service that launched Thursday. Other providers— Jack Henry & Associates Inc. and Pidgin—also support the instant payment service. Fiserv Inc. said two of its clients are live on FedNow and nearly 100 others anticipate doing so in coming months. Banking services provider CSI said it offers FedNow access and noted …
• 20 July

  It’s Official: FedNow Launches With 35 Banks And Credit Unions Signed up For Instant Pay

  

  The Federal Reserve’s instant-payment service, FedNow, is officially live with 35 banks and credit unions participating, the nation’s banking regulator announced early Thursday. The launch, which culminates four years of work since the Fed first announced its intention to build a real-time payments rail, comes as the payments industry moves …