Real-time Payments

May, 2024

• 13 May

  Just 38 Developers Take Apple’s Offer and other Digital Transactions News briefs from 5/13/24

  

  Just 38 app developers have so far applied to Apple Inc. to enable payment processors outside of Apple’s proprietary payment system, the iPhone maker said. That’s out of 65,000 developers that were eligible to apply, according to Bloomberg. The report follows legal action that required Apple to make the alternatives available for apps. Ohio-based …
• 9 May

  Behind Open Banking’s Growing Appeal to Consumers, Merchants—And Card Networks

  

  Open banking has been attracting the attention of bankers, merchants, and card networks. It’s also drawing notice from regulators. The concept of making a payment through a direct transfer from a bank account can appeal to consumers because it’s fast and easy, and to merchants because the transaction is reportedly …
• 8 May

  The Clearing House Gets Set to Broaden the Reach for Its Request for Payment Service

  

  The U.S. payments industry has celebrated the emergence in recent years of two major platforms for real-time payments, but what has insiders particularly excited is the potential for something called the request for payment, or the RFP, as they style it. “The RFP is the first real shift in how …
• 7 May

  Consumers And Businesses Are Embracing Instant Payments, a Fed Study Says

  

  Consumers and businesses are embracing instant-payment options for such transactions as bill payment, mobile-wallet funding and defunding, account-to-account transfers, and immediate payroll for employees, the Federal Reserve says. A pair of studies surveying businesses and consumers about instant payments and the payments landscape, released late Monday by the Fed, reveals …
• 6 May

  J.P. Morgan Payments Adds Real Time A2A Payments With the Addition of Visa Direct

  

  Real-time account-to-payment payments has received a big boost as J.P. Morgan Payments adds Visa Direct to its arsenal of payment options. The deal gives businesses using J.P. Morgan Payments’ platform an option to make payments, such as a rebate or refund, directly to a consumer’s debit card or bank account …
• 3 May

  Shrugging off Volatility, Crypto Enthusiasts Hike First Quarter Spending by 20%

  

  When cryptocurrency prices rise, spending may dip, but only for a short time before users accelerate their purchases with Bitcoin and other digital coins, according to a report released Thursday by BitPay Inc., an Atlanta-based payments-service provider for crypto users and crypto-accepting merchants. The ”2024 BitPay Spending Report,” which covers …
• 2 May

  Chase Adds a Pay-Per-Use Real-Time Payments Option for SMBs

  

  Chase, the banking arm of giant JPMorgan Chase & Co., introduced a suite of digital products it says will help small businesses improve their cash flow and payment processing. Among the services are the ability to choose a payment speed, such as standard automated clearing house, same-day ACH, or real-time …

April, 2024

• 29 April

  Paysafe Adds a Pay by Bank Option for Online Bettors

  

  Payments platform Paysafe, already a competitive processing option for online gaming sites, added a pay-by-bank option enabling online bettors to fund deposits instantly in their accounts. It also can be used for cashing out winnings. The service, which Paysafe says carries no fees to bettors but offers a tiered pricing …
• 29 April

  Veritran Partners with Swift and other Digital Transactions News briefs from 4/29/24

  

  Veritran, a U.S. technology company, said it is working with global financial-messaging service Swift to enable a smoother process for bank customers looking to make cross-border payments. Some 78% of community and regional banks plan to widen payments and merchant services for small businesses in coming months, with 96% planning …
• 26 April

  PayStand Acquires TeamPay and other Digital Transactions News briefs from 4/26/24

  

  Paystand Inc., a business-to-business payments fintech, announced it has acquired Teampay, a developer of spend-management software. Terms were not announced. Treez Inc. released an e-commerce application for cannabis retailers using its Treez point of sale technology. The new service lets stores create an online storefront and accept payments. Payments platform RevoluGroup Canada Inc. said …