Nearly 90% of financial-institution clients predict 5% or more of cross-border market share will be forfeited to fintechs within the next 10 years, according to a study from Citicorp that canvassed more than 100 financial-institution clients. Why is this important?  “The Bank of England estimates that the value of cross-border payments is …

Steven Velasquez, Senior Vice President and Head of Partner Business Development – Elavon, Inc. Delivering payments that meet consumer demand As AI, ChatGPT, and the increased adoption of instant payments become more prevalent in our day-to-day lives, the impact of truly connected payments is upending the traditional consumer experience. The …

In somewhat simple terms, quantum computing uses quantum mechanics – an area of physics that examines the behavior of particles at a microscopic level – to solve complex problems more rapidly than on conventional computers. It includes elements of physics, computer science, and mathematics.   For the purpose of this …

With FedNow joining RTP in the race for real-time payments, a hugely practical service called request for payments could take off. If you’re not a payments geek, you could be forgiven for wondering what all the fuss was about when the Federal Reserve announced in July that its real-time payments …

VSoft Corp., a specialist in financial-services technology, said its core-processing and digital-banking platforms are processing real-time transactions through an integration with instant-payments provider Pidgin. Payments providers ACI Payments and Link2Gov Corp. have been awarded Internal Revenue Service contracts worth $2.07 billion to support credit and debit card payments for taxes and user …

Paysend Group is embarking on a campaign to make its name known among U.S. Hispanic peer-to-peer payments users with an advertising campaign and an offer of fee-free money transfers to Latin America, at least initially. Having opened a U.S. office in 2022, London-based Paysend hopes its advertising campaign, which debuts …

Six years after its launch, the RTP Network surpassed 500 million real-time payments on Saturday, network operator The Clearing House Payments Co. reported Monday. The announcement at least temporarily shines the spotlight back onto the current leader in real-time payments in the wake of last week’s much-anticipated launch of the …

The Federal Reserve could launch its FedNow real-time payments service as early as tomorrow, sources tell Digital Transactions News. The network, which has been under development for nearly four years, represents the regulator’s first effort to create a nationwide network for instant payments, a service that other countries, and at …

Car IQ Inc., a payment-platform provider for vehicles, has partnered with Visa Inc. to enable acceptance of its Car IQ Pay wallet for automobiles across the Visa network. San Francisco-based Car IQ’s wallet can be used by fleet operators, car-sharing services such as Zipcar, and ride-sharing services such as Uber. …

Peer-to-peer transfers have turned into big business, but one nagging problem remains: there’s no interoperability between networks. Visa is forging a solution, though there are complications.  Peer-to-peer payments have in a relatively short period of time become ingrained in consumers’ daily lives. Whether it’s sending a family member birthday cash, …