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- Mastercard Inc. launched its Open Banking for Account Opening program, aimed at U.S. issuers of consumer and small-business debit cards and issuers of consumer prepaid cards. The program aims to verify account ownership, reduce account abandonment, and cut non-sufficient funds returns.
- Brivo, a provider of technology for building access, has added the ability for clients’ employees to add access badges to Google Wallet.
- Card-issuing platform Marqeta Inc. will work with AffiniPay, a payments provider for professionals, to provide a platform for the launch of MyCase Smart Spend, a spend-management product featuring a Visa revolving credit card. AffiniPay acquired MyCase in 2022.
- Wedge Financial Inc. launched a “programmable payments platform” that lets banks and credit unions issue debit cards that give users the ability to use a variety of payment methods at each physical or digital point of sale.
- Payments-software provider ACI Worldwide Inc. announced it has extended its partnership with Kuvasz Solutions, a payments provider in Colombia, to support the country’s new real-time payments platform. The length of the extension was not announced.
- Payments platform Klarna AB said its new AI assistant, in operation for one month, is doing the work of 700 full-time agents and is expected to account for a $40-million increase in profit for the company this year.
- Card-issuing platform Mesh Payments announced an integration with NetSuite OneWorld in an effort to streamline the processing of international transactions.
- Nacha, the regulatory body for the automated clearing house, launched a campaign to promote direct deposit via the ACH network of various payments beyond wages and salaries, including tax refunds and insurance claims.
- Payments platform Nayax Ltd. reported 2023 revenue of $235.5 million, up 36% from 2022, with a reduction in operating loss to $12.4 million from $34 million in 2022. Transaction volume grew 54% to $3.65 billion as processed transactions rose 41% to 1.84 billion.
- Payments provider Flywire Corp. reported 2023 revenue of $403.1 million, up 39.3% from 2022 and fourth-quarter revenue of $100.5 million, up 37.5% from the same period a year earlier. The company reduced its net loss to $8.6 million on the year from $39.3 million in 2022. Payment volume for the year grew 32.9% to $24 billion.
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