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- Among some 108 banks in North America, Europe, and Asia-Pacific, nearly half indicate they have lost at least 10% of their payments volume to fintechs, according to an Aite-Novarica report supported by payments platform Finastra. As a result, some 65% plan to make a significant or moderate investment in payments technology in the next two to three years.
- Nacha, the automated clearing house rulemaker, announced its Top 50 ranking of financial institution originators and receivers for ACH payments in 2022. Bank of America Corp., with more than 1.8 billion debits and nearly 1.5 billion credits was number one followed by JPMorgan Chase & Co. at 1.5 billion debits and 1.5 billion credits.
- CPI Card Group Inc., a manufacturer of payment cards, reported net revenue of $476 million for 2022, up 27% over 2021. Fourth-quarter net revenue totaled $126 million, a 36% increase year-over-year.
- Fifth Third Bancorp announced the acquisition of Big Data Healthcare, a healthcare payments and remittance provider. Terms were not disclosed.
- A new survey of 3,000 transit riders found that nearly 33% of them started using public transport because of their ability to use open-loop payments, found the Visa Economic Empowerment Institute in its “Reimagining ridership: Open-loop payments and the future of urban mobility” report.
- Forty-one percent of consumers rank credit cards as highly secure, compared to 32% who do so for prepaid and gift cards and 31% that rank debit cards as highly secure, found a survey of 1,000 U.S. consumers from fintech Brightwell. The survey was conducted by AYTM, a consumer research firm.
- Digital-identity platform Prove Identity Inc. announced it will support security and compliance for Bitstamp, a cryptocurrency exchange.
- BoomerangFX, a practice management company, will integrate Stripe Inc.’s payment processing services into its software.
- Coinme, a cryptocurrency cash exchange, said more than 22,000 additional ATMs are now part of its cash network. Using Coinme’s application programming interface code, these partner ATMs allow for the instant sale of crypto via the Coinme app for physical cash pickup at participating retailers.
- PayPal Holdings Inc. said Blake Jorgensen is stepping down on March 7 as chief financial officer following a leave of absence for health reasons that started in September.
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