The growth of real-time payments over the next five years will gain momentum from cross-border transfers in a global economy, according to research released early Monday. Indeed, the total number of real-time transactions, also known as instant payments, worldwide will reach 376 billion in 2027, up 289% from 97 billion, …

Varo Bank early Tuesday announced it has become the first digital neobank to be admitted to the Zelle peer-to-peer payments network. The bank, a unit of the 7-year-old, San Francisco-based Varo Money Inc., said it will now offer payments via Zelle through its mobile app. “Adding Zelle to our product …

The payments business has moved on from the pandemic, but it faces a host of other issues. Here’s our annual catalog of the ones causing the most headaches. Welcome to Digital Transactions’ annual catalog of headaches—the problems, pitfalls, and perils facing the business of processing digital payments. We review these …

Should an industry square off against its regulators or partner up with them? The answer shapes consumers’ access to financial products, and thus their financial lives. An acrimonious relationship stifles innovation, leaving consumers with fewer options to meet their financial needs. Unfortunately, many signs point to a lot of future …

The controversy regarding fraud and scams on the Zelle peer-to-peer payment network reached a new level on Thursday with a short statement from Early Warning Services LLC, the bank-owned company that operates Zelle, referring to “misleading reports of fraud and scams” on the network and “incomplete” external analysis from outside …

It’s a fact of the payments world that fraudsters are adept at watching and following consumer behavior to maintain their criminal revenue flow. Just as consumers have returned to shopping in stores, criminals have returned to the point-of-sale, albeit without neglecting their online activities. That’s the summation from Visa Inc., …

Pressure from the Senate Banking Committee on Early Warning Systems LLC, operator of the Zelle peer-to-peer payment network, is rising as committee members continue to press Early Warning for information about the extent of fraud on the network. A report released by Sen. Elizabeth Warren’s office late Monday charges that …

Underscoring the rapid growth of digital payments between individuals, the Zelle Network early Thursday celebrated five years in business with numbers showing it has processed more than 5 billion transactions worth almost $1.5 trillion. In that time, almost 1,700 banks and credit unions have added Zelle to their mobile apps, …

The issue of consumer losses to fraud on peer-to-peer payment apps is about to get hotter as the Consumer Financial Protection Bureau is reportedly preparing a probe of the matter. The bureau’s action will likely include new requirements for banks to reimburse consumers victimized in cases where they sent cash …

Consumers’ loss of funds to fraud and other deceptive activity on peer-to-peer payment networks has drawn the attention of U.S. Senators, who are demanding answers on the matter from the big banks that own the Zelle P2P network. The senators’ actions come as P2P activity has boomed in response to …