Apple Cash users will be able to set up weekly, biweekly, or monthly Apple Cash payments in the iOS 17 iPhone software coming this fall, Apple Inc. announced. Users also will be able to present digital IDs stored in Apple Wallet to businesses, such as for age verification. More than 96% …

Worldpay, a unit of processor FIS Inc., has partnered with open-banking gateway and real-time payments network Volt to enable merchants to accept account-to-account payments from consumers. Through the use of application programming interfaces Volt will enable Worldpay merchants to initiate account-to-account (A2A) payments using open-banking technology. Open banking allows banks …

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 …

Sparing merchants card-acceptance fees is the fuel that has propelled alternative payments options, such as account-to-account transactions. One startup benefitting from this trend is London-based Sway Money Ltd., which enables merchants to accept account-to-account payments using a QR code and an off-the-shelf mobile device. Sway, which was incorporated in December …

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 …

The payments industry is beginning to react to a report this week from the Consumer Financial Protection Bureau alerting consumers to the lack of federal deposit insurance for funds held in nonbank payment apps. The CFPB’s report appears to be a cautionary note rather than a call for regulation, at least for …

Cross River Bank and Paymints.io Corp., a software-as-a-service platform provider for real estate payments, are teaming up to enable real-estate payments through the automated clearing house. The service will utilize the ACH rails, including same-day ACH payments, as well as wire transfers, to facilitate such payments as earnest money, cash …

The lesson innovators need to learn from recent industry turbulence is that fundamentals still matter. The collapse of Silicon Valley Bank, the consent order against Cross River Bank, and other recent events show that companies and regulators must focus on business basics. It is tempting to say SVB’s failure is …

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 …

Citing a strong user preference for PayPal and Venmo, the digital-disbursements provider Onbe early Tuesday said it is adding the two channels to its menu of payment choices. The move brings two major payments platforms to the Chicago-based company’s payout options, which includes the mobile -payments providers Apple Pay and …