The Zelle peer-to-peer payments network is starting to click for the smaller, everyday transfers it was designed to handle. Early Warning Services LLC, the Scottsdale, Ariz.-based banking-technology company that runs the 2-year-old network, reported on Tuesday that Zelle handled $44 billion in volume in the second quarter on 171 million …
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Can New Tech And New Rules Finally Stop the Plague of Mounting Chargebacks?
Visa Inc. and Mastercard Inc. may be making significant progress in their bid to simplify and speed their aged and cumbersome chargeback processes through automation, rules changes, and some key acquisitions, experts contend. The biggest gains in chargeback efficiency are expected to come when Visa and Mastercard launch real-time communications …
Read More »Mastercard Completes Transfast Deal and other Digital Transactions News briefs from 7/9/19
Mastercard Inc. completed its acquisition of Transfast, a cross-border payments specialist. Terms were not disclosed. Transfast provides B2B and person-to-person payment services through a network it says covers more than 125 countries and includes direct integrations with more than 300 banks and other financial institutions. The company also supports Mastercard …
Read More »PayPal Launches Instant Transfer in Canada Using Visa Direct
PayPal Holdings Inc. added Instant Transfer capability for individuals and small businesses in Canada. The move relies on Visa Direct, a real-time push-payments service. Announced Tuesday, the service can move money from a PayPal account to a bank account via a Visa debit card. All transfers are subject to a …
Read More »COMMENTARY: The Rise of B2B E-Commerce Creates New Technology Openings
For years, business-to-business (B2B) e-commerce has been the distant cousin of business-to-consumer (B2C) e-commerce—less understood and appreciated, asked to wait in the other room while consumer-facing businesses from Amazon to Warby Parker soaked up all the adulation. But as B2C e-commerce and its supporting ecosystem matures, the potential for B2B …
Read More »Allied Payment Debuts Bill-Payment Tech and other Digital Transactions News briefs from 6/20/19
Online and mobile bill-payment provider Allied Payment Network announced what it says is a “first of its kind” real-time digital bill-payment technology. The company developed the product in collaboration with Finastra, a software provider to financial institutions. Payments provider International Bancard said it was named the official credit card processor …
Read More »Celero Commerce’s Two Acquisitions and other Digital Transactions News briefs from 6/18/19
Celero Commerce announced two acquisitions, those of Elmhurst Financial Services and Tandem Innovative Payment Solutions. Following the deals—financial terms were not disclosed for either—Celero will have approximately 25,000 merchants and process approximately $10 billion in annual payment volume. Payment Alliance International said it acquired ISA-ECash, an ATM operator and developer …
Read More »No Data Lost in Weekend Target POS Glitches and other Digital Transactions News briefs from 6/17/19
Target Corp. was hit by two point-of-sale glitches this past weekend. On Sunday afternoon the retailer was unable to process certain card transactions at some of its 1,800 stores for about 90 minutes due to an issue at a data center of its payment-services vendor, NCR Corp., Reuters reported. Sunday’s …
Read More »About 200,000 Card Numbers from Medical Collections Agency for Sale, Researcher Says
A data-security services firm says it has spotted approximately 200,000 payment card numbers in online fraudster marketplaces stolen from a collections firm serving diagnostic laboratories, but it expects more to come up for sale later. Secaucus, N.J.-based Quest Diagnostics Inc. reported Monday that financial and other data on some 11.9 …
Read More »Western Union Adds Visa Direct and other Digital Transactions News briefs from 6/5/19
The Western Union Co. said it will enable Visa Inc.’s Visa Direct real-time push-payment service. The move follows the remittance-processing company’s announcement in late 2017 that it would adopt Mastercard Inc.’s rival service, Mastercard Send. Merchant processor VizyPay launched a program called Cash Discount 2.0, which calls for merchants to …
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