Real-time Payments

November, 2020

• 2 November

  With Real-Time Networks on the Way, Processors Prepare to Give Businesses a Piece of the Action

  

  As consumers adopt real-time payments in the coming years, payments providers are expecting businesses large and small to follow suit. News released Monday indicates preparations are already under way. Canadian processor Everlink Payments Services Inc. and Fintainium Inc., a Jacksonville, Fla.-based developer of cloud-based technologies for financial institutions, have agreed …

October, 2020

• 28 October

  Mastercard’s Top Brass Points to Signs of a Recovery But Warns of Recent Restrictions

  

  As were all payments networks, Mastercard Inc. was hammered by the novel coronavirus pandemic, but its leaders Wednesday morning pointed to a tentative recovery. “Overall, we see signs of improvement, but we’re not out of the woods yet,” noted Ajay Banga, Mastercard’s outgoing chief executive, during a conference call with …
• 16 October

  MoneyGram Adds International Partners and other Digital Transactions News briefs from 10/16/20

  

  MoneyGram International Inc. reached an agreement with Lulu Money in which consumers in Hong Kong can send or receive money at any Lulu Money location and also link to the MoneyGram network.In related news, MoneyGram and PayMaya, a payments provider in the Philippines, have agreed to launch a service that will allow …
• 14 October

  A Pilot Is Coming for FedNow, But Some Question the Fed’s Deliberate Pace

  

  The announcement from the Federal Reserve late Monday of a pilot for the FedNow real-time payments service may represent an important stage in the development of a service not expected to go live until 2023 at the earliest. But observers caution rival services have already made headway with key market …
• 12 October

  BMO Adopts TCH’s RTP and other Digital Transactions News briefs from 10/12/20

  

  BMO Financial Group, a unit of Bank of Montreal, announced it has linked to The Clearing House Payments Co. LLC’s Real-Time Payments network, enabling U.S. business clients to receive funds instantly from any sending bank connected to the network.ACI Worldwide Inc. said its Speedpay unit will allow customers of Entergy Services LLC, a …
• 5 October

  Debit Use Rises at Restaurants and other Digital Transactions News briefs from 10/5/20

  

  For the week ending Sept. 27, debit card use was up 4.2% at restaurants, not including fast food, and credit card use was down 16.9% compared to the week ending Sept. 29, 2019, according to the Tracking Transaction Trends report from PSCU, a credit union service organization. Debit card use was …

September, 2020

• 29 September

  Nuvei Makes a Bet on Colorado and other Digital Transactions News briefs from 9/29/20

  

  Nuvei Corp. said it received a sports betting vendor license in Colorado, enabling it to process payments there for regulated sports betting sites and apps.Mastercard Inc. and ACI Worldwide Inc. said they will collaborate to support real-time payments capabilities, initially for central banks, payments networks, financial institutions, and payments providers.To help businesses …
• 28 September

  While Momentum Builds for Real-Time Payments, Research Tags the U.S. Market As a Laggard

  

  Real-time payments are gaining momentum in the United States, but research released Monday indicates the U.S. market remains a laggard. The total value of so-called instant payments will reach $18 trillion in 2025, but the U.S. share of that market will total just 8%, or $1.4 trillion, according to a …
• 23 September

  Third-Party Processors Are Starting to Pay off for TCH As It Seeks to Expand Real-Time Payments

  

  Getting to universal real-time payments in the United States will depend on reaching smaller banking institutions, and on Wednesday The Clearing House Payments Co. LLC may have created the potential to scoop up a significant number of these endpoints via a deal with the major processor FIS Inc. The two …
• 22 September

  POS Credit To Grow 92% and other Digital Transactions News briefs from 9/22/20

  

  Online purchases using installment credit will total $680 billion globally in 2025, up 92% from $353 billion last year, projects Kaleido Intelligence.In related news, point-of-sale installment lender Laybuy launched a partner program to help smaller retailers offer the credit. More than 6,000 merchants offer Laybuy.MetaBank N.A., a unit of Meta Financial Group Inc., …