Real-time Payments

November, 2022

• 7 November

  COMMENTARY: It’s Time to Fix Payments. Here’s How to Do It

  

  As one who has spent an entire career working with community banks, credit unions, and merchants, I can say it’s abundantly clear how they all suffer from a broken payments system, with the Fed’s automated clearing house being the lone exception. While merchants and community banks don’t share the same …
• 3 November

  Block Pursues a ‘Compelling Opportunity’ in Linking Cash App With Square

  

  Block Inc. is the parent of the well-known Square point-of-sale equipment and processing business, but it’s the company’s Cash App unit that has been stealing a steadily growing share of the limelight at the 13-year-old company. And now Block is working to find ways to link its two big units …
• 3 November

  SoundExchange Adds Zelle and Cash App for Payment of Digital Performance Royalties

  

  SoundExchange, a non-profit that collects and distributes digital performance royalties for sound recordings, is now enabling registered soundtrack creators to receive royalty payments through Zelle and Block Inc.’s Cash App mobile-payment service. Washington D.C.-based SoundExchange is a non-profit collective rights-management organization designated by Congress to collect and distribute digital-performance royalties …
• 2 November

  Eye on Blockchain: Circle Financial And Paxos Gain a Foothold in Singapore

  

  Two U.S.-based fintechs focused on blockchain payments technology have expanded their footprint into Singapore, giving both companies a jumping-off point for expanding their respective businesses in Asia. Circle Internet Financial LLC, a Boston-based company specializing in commercial blockchain and crypto applications, has received provisional approval from the Monetary Authority of …
• 1 November

  Paya Launches a Platform to Drive Deeper Into the Utilities Market

  

  The payments processor Paya Holdings Inc. on Monday announced UtilityConnect, an initiative aimed at deepening the Atlanta-based company’s involvement in processing for governments, municipal entities, and private utilities. The new portal, which features a redesigned user interface, features new services aimed at easing citizen payments to local governments, including settings …

October, 2022

• 31 October

  COMMENTARY: How Payment Orchestration Can Make Sales POP for Online Sellers

  

  With nearly 1 out of 5 shoppers abandoning their carts due to a long or complicated checkout process, today’s merchants are challenged to close retail sales. Combine this with the fact that many merchants have not updated their payment systems in two years, and the result is an inability to …
• 27 October

  Mastercard Will Compete for Debit And Build out New Payment Flows, Its Top Brass Says

  

  Mastercard Inc.’s top executives early Thursday underscored a strategy for the company involving a diversity of payment flows and new network opportunities such as open banking and cryptocurrency. At the same time, the company’s leadership made plain the company will compete for debit volume in the wake of a Federal …
• 25 October

  Visa’s Top Executives See Little Impact from the Fed’s Ruling on Debit Transaction Choice

  

  It was only a matter of time before the two big international card networks responded to a recent Federal Reserve requirement that issuers make at least two unrelated networks available to merchants for debit card transactions. Late Tuesday, Visa Inc.’s chief financial officer, Vasant Prabhu, said the impact of the …
• 25 October

  Same-Day Payments Continue to Pay off in Volume Gains for the ACH Network

  

  While the payments business moves toward real-time transfers, faster payments on the nation’s automated clearing house network continue their dramatic rise following a 10-fold increase in the transaction dollar limit earlier this year. Transactions cleared the same day they’re initiated totaled 176.6 million in the quarter ended Sept. 30, up …
• 25 October

  Jack Henry’s New P2P Payments Platform And Other Digital Transactions News briefs from 10/25/22

  

  Financial-services technology provider Jack Henry & Associates Inc. launched a real-time peer-to-peer payments platform, based on the Digital Payments Platform from the payments-technology firm Payrailz. Jack Henry acquired Payrailz in September for undisclosed terms.Gr4vy, a U.S.-based payments-technology provider, said Australia’s Woolworths Group will use the company’s payments-orchestration platform to run the retailer’s Wpay service. …