Real-time Payments

February, 2021

• 2 February

  Jared Isaacman To Don a Spacesuit and other Digital Transactions News briefs from 2/2/21

  

  Jared Isaacman, founder and chief executive of Shift4 Payments Inc. and an experienced pilot, will command Inspiration4, the world’s first civilian space flight, scheduled for the fourth quarter and mounted in collaboration with SpaceX. Isaacman is also donating $100 million to St. Jude Children’s Research Hospital, which will have two …
• 1 February

  Digital Payments And Phishing Attacks Influence Bankers’ Priorities for 2021, CSI Says

  

  Investing in digital account opening, mobile-banking applications, and customer-relationship applications are among bankers’ priorities for digital services in 2021, says a report from Computer Services Inc., a provider of cloud-based financial-services technology. Enabling consumers to open accounts digitally, even after the Covid-19 pandemic subsides, was cited as a top priority …
• 1 February

  How a Processor Sees Opportunity in Its Participation in the Upcoming Pilot for FedNow

  

  With the Federal Reserve’s announcement last week that more than 110 financial institutions and processors have signed up for a pilot of the FedNow real-time payments service, third-party service providers are working to smooth the way for small banks that might otherwise be left on the sidelines. “We’re filling the niche …

January, 2021

• 28 January

  As Visa Stages a Comeback From Covid, It Scopes Out Its Chances in Open Banking

  

  Visa Inc. along with many other payments companies was thrown for a loop by the coronavirus pandemic, but now it’s clawing it’s way back on the strength of debit cards, e-commerce, and a real-time payments service called Visa Direct. “In the United States, we are actually back to our prepandemic …
• 25 January

  A Planned Pilot for FedNow Spurs More Than 110 Banks And Processors to Sign up

  

  The Federal Reserve reported late Monday it has received more than 110 expressions of interest from financial institutions and processors for a real-time payments pilot program slated to start later this quarter. That number exceeds the 80 entities the Fed expected to participate in the pilot for the FedNow service, …
• 22 January

  Checkbook.io’s Link to Plaid Looks To Bring Verification to Real-Time Payments

  

  As the payments business moves toward faster settlement, verifying payor accounts becomes crucial, yet for non-card payments, “there’s a gap there,” notes Patricia Hewitt, principal at PG Research & Advisory Services LLC, a Savannah, Ga.-based payments consultancy. On Thursday, Checkbook Inc., a San Mateo, Calif.-based startup, announced a step toward …
• 12 January

  Another Bank Joins TCH Real Time Payments and other Digital Transactions News briefs from 1/12/21

  

  Wells River Bank has agreed to join the Real Time Payments network operated by The Clearing House Payments Co. LLC. The bank will connect to the network through the Shazam EFT network’s Shazam Pay faster-payments gateway.Payments provider Lightspeed POS Inc. launched its Lightspeed Supplier Network, a platform aimed at North American merchants to …
• 5 January

  COMMENTARY: Prepare for the Coming Impact of Digital Fiat Currencies

  

  Amara’s Law, coined by Stanford computer scientist Roy Amara, says we tend to overestimate the impact of a new technology in the short run, but underestimate it in the long run. So it was with the Internet and mobile phones. So it’s likely to be with digital fiat currencies.  Since …

December, 2020

• 29 December

  Nacha Expands ACH Tool for Small Businesses and other Digital Transactions News briefs from 12/29/20

  

  Nacha, the automated clearing house rules maker, and its Payments Innovation Alliance, a group of corporations, third-party processors, fintechs, and financial institutions, expanded the ACH Quick Start Tool, which helps smaller businesses learn about the ACH.Also, Nacha launched the Faster Payments Project Team to help organizations learn about faster payments and its capabilities.Starting Jan. …
• 3 December

  X9 Solicits Faster Payments Input and other Digital Transactions News briefs from 12/3/20

  

  The Accredited Standards Committee X9 Inc. said it is seeking participants for a newly-formed a study group on faster and real-time payments. The ASC X9 develops national and international standards for the financial-services industry.Payments-technology provider Payfacto Payments Inc. has partnered with Community Federal Savings Bank to launch a merchant-acquiring unit for the U.S. market …