As the market for real-time payments continues to develop in the United States—and as the Federal Reserve prepares for a commercial launch of its own real-time network next year—The Clearing House Payments Co. is celebrating the five-year anniversary this month for its own nationwide service. “We keep plowing forward,” Jim …

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 …

While the payments business moves toward real-time transfers, faster payments on the nation’s automated clearing house network continue their dramatic rise following a 10-fold increase in the transaction dollar limit earlier this year. Transactions cleared the same day they’re initiated totaled 176.6 million in the quarter ended Sept. 30, up …

Financial-services technology provider Jack Henry & Associates Inc. launched a real-time peer-to-peer payments platform, based on the Digital Payments Platform from the payments-technology firm Payrailz. Jack Henry acquired Payrailz in September for undisclosed terms.Gr4vy, a U.S.-based payments-technology provider, said Australia’s Woolworths Group will use the company’s payments-orchestration platform to run the retailer’s Wpay service. …

Remitly Global Inc. Thursday announced it is making Visa Direct, Visa Inc.’s real-time push-payments platform, available to its customers in Canada. The deal expands Remitly’s online remittance service in Canada by providing Visa Direct as a payout option, the company says. With Visa Direct, Remitly customers in Canada can now …

By Tom Byrnes, SVP, Marketing If you’re an Independent Software Vendor (ISV), one of the necessary elements of the business you’re in is a relationship with a payment processor. While the rest of the technology landscape has shifted to cloud-hosted platforms, processors have clung on to their mainframe-based legacy stacks …

Cross-border payments are a huge business. Here’s what banks and a handful of non-bank specialists are learning from fintechs about how to get better at it. Whether it’s a transaction initiated by an overseas worker sending money home or a business sending a payment to an out-of-country supplier, the dollar …

Last year, Chime got in trouble with the regulators for marketing itself as a bank. At the time, industry observers responded with a lot of snark about how it didn’t matter to the end users whether or not Chime actually held a charter, so the regulators were being ridiculous. This …