Digital Transactions Authoritative, insightful and timely information for payments professionals
As the market for real-time payments continues to develop in the United States—and as the Federal Reserve prepares for a commercial launch of its own real-time network next year—The Clearing House Payments Co. is celebrating the five-year anniversary this month for its own nationwide service. “We keep plowing forward,” Jim …
November, 2022
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15 November
Varo Bank Signs on As the First Digital Bank to Join the Zelle P2P Payments Network
Varo Bank early Tuesday announced it has become the first digital neobank to be admitted to the Zelle peer-to-peer payments network. The bank, a unit of the 7-year-old, San Francisco-based Varo Money Inc., said it will now offer payments via Zelle through its mobile app. “Adding Zelle to our product …
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14 November
Klarna Added to Viva Wallet And Other Digital Transactions News briefs from 11/14/22
Buy now, pay later provider Klarna AB said its service is now included in Viva Wallet, a European payment platform. Klarna says it serves 150 million active users globally, conducting 2 million daily transactions.In the wake of the implosion of cryptocurrency exchange FTX, Silvergate Capital Corp. said FTX’s deposits at the bank totaled $11.9 …
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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 …
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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 …
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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 …
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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 …
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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
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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 …
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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 …
