Real-time Payments

June, 2023

• 14 June

  The CFPB Looks to Define ‘Larger Companies’ for Rulemaking in Payments

  

  The Consumer Financial Protection Bureau is looking at creating a rule to define so-called larger companies in the consumer-payments industry, according to a notice the regulator posted on Tuesday. The rule if established would clarify the CFPB’s supervisory authority with respect to nonbank payments companies, lending more impetus to a …
• 14 June

  Volt’s Gateway on Shopify And Other Digital Transactions News briefs from 6/14/23

  

  The Canada-based commerce platform Shopify announced it has added the payments gateway Volt, allowing Shopify merchants in Europe, the United Kingdom, and Brazil to process real-time account-to-account payments. In related news, payments platform Netevia announced updates to its banking-services features, including free account-to-account transfers. The free period extends until the end of the year. …
• 7 June

  Coinbase Faces SEC Lawsuit And Other Digital Transactions News briefs from 6/7/23

  

  The Securities and Exchange Commission sued cryptocurrency exchange Coinbase, alleging the company operates as an unregistered broker. The suit comes on the heels of a similar SEC action against Coinbase competitor Binance. U.S.-based stablecoin platform Circle Internet Financial LLC said its Circle Singapore affiliate obtained a Major Payment Institution license from the Monetary …
• 6 June

  80% Use a P2P Payment App And Other Digital Transactions News briefs from 6/6/23

  

  Some 80% of U.S. consumers say they have used a peer-to-peer payment service at least once, while two-thirds report having used a mobile wallet in the past year, according to the 2023 State of Payments report from card-issuing platform Marqeta Inc. The study surveyed 4,091 consumers in February, including 2,013 in the …
• 1 June

  J.P. Morgan’s New Marketplace And Other Digital Transactions News briefs from 6/1/23

  

  J.P. Morgan launched its Payments Partner Network, a cloud-based online marketplace for payments providers integrated with the banking giant’s payments platform. The marketplace’s technology is supported by Salesforce. Five-year-old cryptocurrency-wallet provider Magic raised $52 million in a funding round led by PayPal Ventures. The round brings Magic’s total raise to $80 million. Digital …

May, 2023

• 31 May

  As New Services Roil P2P, Fiserv Gets Set to Shut Down Its Popmoney Network

  

  Fiserv Inc. will discontinue its longstanding Popmoney peer-to-peer payments service on June 30, the processing giant said, following notices being posted by participating banks. The move comes as the processing giant shifts its priorities to supporting the bank-owned Zelle network, according to a Fiserv spokesperson. “Due to the tremendous success …
• 31 May

  ACI Picks New CEO And Other Digital Transactions News briefs from 5/31/23

  

  ACI Worldwide Inc. named Thomas Warsop its president and chief executive effective June 1. Warsop continues to be a member of ACI’s board of directors, which he joined eight years ago. He had served as interim president and CEO since November following the departure of Odilon Almeida, who held that role since …
• 24 May

  U.S. Investors Are Optimistic About Bitcoin in the Face of the Coin’s Recent Travails

  

  U.S. investment managers have grown bullish about Bitcoin’s prospects despite recent events that have roiled digital-currency markets, research released Wednesday indicates. Feeding the renewed optimism are prospects for “improved regulation” and expectations of a “recovery in valuations” for Bitcoin, according to the research, in which 30 major investment managers were …
• 19 May

  Eye on Bitcoin: Marathon, Brink Partner To Raise Money for Bitcoin Developers; Jack Dorsey Invests in Azteco

  

  Marathon Digital Holdings Inc., a digital-asset company that supports the Bitcoin ecosystem, is teaming up with Brink Technology to raise $1 million to support Bitcoin Core developers that maintain the Bitcoin protocol. Brink Technology works to strengthen the Bitcoin protocol and network. The Bitcoin protocol enables Bitcoin to function as …
• 16 May

  ACI Completes FedNow Certification And Other Digital Transactions News briefs from 5/16/23

  

  Payments provider ACI Worldwide Inc. said it has completed testing and certification necessary to participate in the Federal Reserve’s FedNow real-time payment service, set to launch in July. Identity-verification specialist Veriff said it will provide its services through processor MassPay’s payments-orchestration platform. Warning of more fraud as peer-to-peer and real-time payments gain volume, technology firm ComplyAdvantage launched Fraud Detection, which …