The case for the Fed running digital dollars is at best unclear, at worst unwise. Like many central banks, the Federal Reserve has been studying, and socializing, the idea of issuing digital currency, which in some form might be held and used by individuals, firms, banks, and other central banks. …

Payments companies should make simplicity of use a big bet when courting iGaming providers. Everyone, especially those placing bets online and hoping to win big, wants a smooth payment experience. Online gaming providers are no different. They want their customers to easily fund their betting accounts and have a simple …

That’s a good thing, though it’s important to understand the potential drawbacks of instant payments. By 2025, the majority of financial transactions will be settled in real time. There’s good reason for this prediction. Merchants and customers are demanding faster ways to pay or collect funds, and larger companies, as …

Open banking specialist Plaid launched Plaid Beacon, an anti-fraud network for fintechs and financial institutions. The fintech Karma Wallet has allied with card-issuing platform Marqeta Inc. to introduce a prepaid card offering cash-back rewards from merchants said to be local, ethical, and sustainable. PayEm, a spend-management platform, has integrated with American Express to allow …

ACI Worldwide Inc. has launched its Instant Pay real-time payment solution in Europe and the United Kingdom. The move comes against the backdrop of a regulatory push in Europe mandating that financial institutions across the Single Euro Payments Area (SEPA) countries in Europe offer instant payments under the SEPA Instant …

Some 80% of U.S. consumers say they have used a peer-to-peer payment service at least once, while two-thirds report having used a mobile wallet in the past year, according to the 2023 State of Payments report from card-issuing platform Marqeta Inc. The study surveyed 4,091 consumers in February, including 2,013 in the …

Eyeing an opportunity among cash-strapped small businesses, Stripe Inc. has jumped into the virtual credit card game with the launch of a charge card program for Stripe Issuing, the San Francisco-based processor’s commercial card program. The new program will be offered through fintechs serving small businesses. Announced late Thursday, the …

Real-time payments can bring much more flexibility—and potential profit—to businesses of all sizes. Following Covid’s chaos, that’s good news. Supply-chain chaos has forced many companies to adopt new strategies to keep goods moving and meet demands for fast funds. The financial-services industry is no exception to the growing demand for …

Working with Searchlight Capital Partners, payments provider Rev Worldwide closed on its $1-billion all-cash acquisition of the Netspend consumer business from Global Payments Inc. Netspend is a specialist in prepaid and debit cards for more than 100,000 retail locations. Payments provider Finix Payments Inc. said it is now a payment processor, having completed direct connections to …

The big processor Global Payments Inc. on Monday morning announced upbeat first-quarter results but also said its chief executive, Jeff Sloan, is departing after nine years in the role. Sloan, who will leave Global Payments June 1 and will be succeeded by long-time president and chief operating officer Cameron Bready, …