Here’s why this efficient payment method is steadily overcoming doubts to establish itself as a safe, efficient—and fast—alternative to cards. From instant-payment processing times to real-time account access and the option to choose from multiple payment options, the modern digital economy is driven by demands to provide businesses and consumers …

Mastercard Inc. has launched Bill QKr, a service supporting merchants and acquirers in accepting and more quickly processing card-based bill payments. 2C2P, AXS, CardUp, Curacel, and FitBank are among the first to adopt the new service. Real-time cross-border payments platform Nium launched Nium Verify, a service the company says can verify both business …

The Bancorp Inc., which provides payments and other financial services to fintechs, reported September quarter-net income of $51.5 million, up slightly from $50.1 million a year ago. Gross dollar volume on prepaid and credit cards grew 15% to $37.9 billion. Payment fees from prepaid and debit cards, automated clearing house …

While the Consumer Financial Protection Bureau is being sued over its data-privacy rule, merchants remain optimistic the regulation will help them reduce the impact of swipe fees by making account-to-account payments widely available at the point of sale. The key is open banking, which paves the way to developing payment …

Payments provider BlueSnap launched its Channel Partner Program, through which it has signed eight system-integration partnerships in the U.S., Canadian, and U.K. markets. Visa Inc. said it is working with governing entities around the world to help them create digital access to government services for their citizens. Mastercard Inc. announced it has extended its …

No sooner had the Consumer Financial Protection Bureau released its personal financial data rights rule Tuesday than the rule was legally challenged by the banking industry. The lawsuit, filed late Tuesday by the Bank Policy Institute and the Kentucky Bankers Association, alleges the CFPB has overstepped its bounds by issuing …

More than a year after the launch of real-time payments by the Federal Reserve, financial institutions of all sizes are adopting the service. Some mid-size and smaller institutions are also looking ahead to related issues, including the looming ISO20022 standard for financial messaging. The latest example emerged Thursday with an …

Small-town merchants present unique challenges. Processors that can meet those needs will reap a bountiful harvest. Owning a small business in rural America comes with a lot of benefits, like a strong sense of community, loyal customers, lower costs of doing business, and less competition. However, a small-business owner in …

Alviere, a platform for embedded payments, has launched its Loyalty Wallets product, which features pay-by-bank functionality. The wallets can be funded by ACH transfer or direct deposit. Bank3, a community bank in Tennessee and Mississippi, has chosen Tyfone Inc.’s Instant Payment Xchange technology, meant to facilitate real-time payments on the FedNow system. The …

Visa Inc. announced early Thursday it will launch account-to-account (A2A) payment capabilities in the United Kingdom in early 2025. The move will allow U.K. consumers paying bills to do so directly from their bank account, as opposed to paying by check, cash, or card. Visa’s plans for the service, called …