Real-time Payments

June, 2022

• 28 June

  Eye on Mastercard: Paysafe Adds Send; PayPal Launches a Cashback Mastercard

  

  To provide merchants in the United Kingdom and Europe with an international and domestic payout service, Paysafe Ltd. is integrating Mastercard Send into its platform. The deal will enable businesses in those regions to send payments to cards, bank accounts, and mobile wallets. Such capabilities are expected to be highly …
• 22 June

  Mastercard’s First Album and other Digital Transactions News briefs from 6/22/22

  

  Mastercard Inc. released what it says is its first music album, featuring 10 songs that include the melody of the card network’s advertising. The album was launched at the Cannes Lions Festival of Creativity.Processor Jack Henry & Associates said more than 250 financial institutions are now using its platform, JHS PayCenter, to …
• 17 June

  Samsung Wallet Debuts and other Digital Transactions News briefs from 6/17/22

  

  Samsung Electronics launched Samsung Wallet for its Galaxy line of mobile devices. The new application allows users to store payment cards as well as digital keys, boarding passes, ID cards, and other credentials. Later in the year, the wallet will support driver’s licenses and student IDs. Samsung Pay users can upgrade to the wallet …
• 14 June

  Sionic’s New Real-Time Payment Service and other Digital Transactions New briefs from 6/14/22

  

  Payments provider Sionic announced a service that allows consumers to pay merchants at the point of sale via real-time transfers from the consumer’s bank account to the merchant’s bank account. The service includes incentives merchants can use to induce consumers to use the service in preference to rewards credit cards.XTM Inc. announced it …
• 3 June

  Huntington Creates Payment-Strategy Unit and other Digital Transactions News briefs from 6/3/22

  

  Huntington Bancshares Inc. said it is establishing a unit within the bank dedicated to payments strategy and investment. Amit Dhingra has been appointed to lead the group as Enterprise Payments Director.A platform called i-payout said it is launching a real-time service for payouts in the U.S. and Canada. Rather than …

May, 2022

• 17 May

  Consumers Are Wary of Fraud, But Faster Payments Retains Its Allure for Multiple Applications

  

  With some fast and near-instant payments services and apps already available, and more coming, it turns out fear of fraud, reluctance to manage multiple apps, and ignorance about the services are consumers’ biggest hurdles to adoption. Approximately 40% of U.S. consumers are wary of using faster-payments options overall, according to …
• 13 May

  Kickfin Enlists Visa Direct for Tip Payouts and other Digital Transactions News briefs from 5/13/22

  

  Kickfin, a tip disbursement provider, said its tie-in with Visa Direct, the card brand’s push payment service, will enable its clients to send cashless tip payouts directly to employees’ existing bank accounts via eligible debit cards.Buy now, pay later provider Affirm Inc. announced a multi-year extension of its agreement to provide installment-payment …
• 10 May

  An Appetite for Faster Payments Grows as the ACH Payment Limit Expands to $1 Million

  While the payments industry reckons with the arrival of real-time settlement capability, an appetite among financial institutions for faster payments in general has clearly emerged. Dollar volume on the automated clearing house network for transactions settled on the same day grew 53% in March compared to February, following the introduction …
• 4 May

  Behind The Clearing House’s Effort to Bring Tokenization to Its Real Time And ACH Services

  

  Against a background of emerging real-time payments and steady growth in automated clearing house transactions, The Clearing House Payments Co. LLC is working to mask those transfers with a technology the payment card business has used for years—tokenization. The job is enormous. “We’re just starting—it’s going to take time,” says …
• 2 May

  TCH Updates RTP Tokenization for Checking Accounts and other Digital Transactions News briefs from 5/2/22

  

  The Clearing House Payments Co. LLC announced it will soon introduce tokenization for checking account and routing numbers on transactions financial institutions run over TCH’s RTP real-time payments and EPN automated clearing house networks.Of 80 mid-tier U.S. financial institutions surveyed by Volante Technologies, 37% of these not already connected to The Clearing …