Real-time Payments

March, 2023

• 30 March

  Cheq’s Stadium POS Play And Other Digital Transactions News briefs from 3/30/23

  

  In-stadium payments provider Cheq Inc. said visitors to the Miami Marlins’ home field, loanDepot park, now can use its services for mobile, kiosk, traditional point-of-sale, and handheld payment options in parts of the park. Cheq began offering mobile payment services at the venue in 2021.8 P97 Networks, a provider of mobile-payments technology for gas …
• 29 March

  U.S. Real-Time Payments Will Climb Fast But Will Still Account for a Small Fraction of Activity

  

  The Federal Reserve’s planned launch in July of its FedNow service is widely expected to spur big growth in real-time payments in the U.S. market. That’s likely to happen, but the overall share of transaction volume for instant payments is expected to remain under 5% for at least the next …
• 27 March

  An Energized Coinbase Prepares to Do Battle With the SEC

  

  Cryptocurrency marketplace and services provider Coinbase Global Inc. says it’s ready to fight the Securities and Exchange Commission if the commission takes an enforcement action against it. But the SEC’s possible action comes as no surprise to some observers of the crypto market. The SEC last week issued a so-called …
• 27 March

  First Citizens Buys SVB And Other Digital Transactions News briefs from 3/27/23

  

  First Citizens Bank & Trust Co. reached an agreement with the Federal Deposit Insurance Corp. to buy Silicon Valley Bridge Bank after a competitive bidding process. Terms include FCB’s assumption of $110 billion in assets, $56 billion in deposits, and $72 billion in loans. Starting Monday, the 17 SVB branches will operate as …
• 22 March

  Tassat Preps for FedNow And Other Digital Transactions News briefs from 3/22/23

  

  Tassat Group Inc., a provider of real-time business-to-business payments based on blockchain technology, said its client-facing application programming interface enables an “on-ramp” to FedNow, the Federal Reserve’s real-time payments service, which is expected to begin commercial service in July. Liquidity Financial launched CauseCard, a Visa-branded debit card with a connected app …
• 21 March

  As Real-Time Payments Systems Gear Up, Finastra Launches a Multi-Network Software Offering

  

  With the Federal Reserve’s announcement last week that it will launch its FedNow real-time payments service in July, technology firms are jockeying for position as the appetite for faster payments grows worldwide. One big development emerged early Tuesday with an announcement from London-based payments-software firm Finastra Group Holdings Ltd. that …
• 16 March

  The Fed Zeros in on July for the Launch of the FedNow Real-Time Payments Service

  

  The Federal Reserve late Wednesday narrowed the launch window for its FedNow real-time payments network to July of this year. The move comes seven months after the banking regulator announced it would introduce the service some time between May and July. Formal certification of system participants will start the first …
• 14 March

  Big Bank Failures Will Spur Big Consequences for Crypto, Experts Argue

  

  The stunning bank failures of recent days, all of them involving institutions with wide exposure to cryptocurrency, are likely to have a deep impact not only on blockchain products but on payments more broadly, experts say. A stronger case for a digital dollar, stricter regulation of digital currencies in general, …
• 13 March

  Will a Trio of Major Bank Failures Dampen Interest in Blockchain Technology?

  

  Signature Bank on Sunday became the latest domino to fall in a reckoning that is expected to have widespread ripple effects not only for banking but for the burgeoning cryptocurrency industry. The New York City-based bank, closed by state regulators, is said to be the third-largest bank failure in U.S. …
• 13 March

  RevoluGroup To Add Visa Direct And Other Digital Transactions News briefs from 3/13/23

  

  RevoluGroup Canada Inc. said its RevoluPay mobile-payments app has added payments on the automated clearing house in the United States, the Faster Payments Service (FPS) in the United Kingdom, and SEPA Instant in Europe. The company said it will add Visa Direct in May. The total value of payments made with …