The Fed will debut FedNow next year. It will face a highly complex—and surprisingly competitive—market for the instant transfer of value. In the near future, most people will be able to exchange money instantly anywhere, any time. A patchwork of competing and collaborating national and multinational instant-payment systems with very …

The Consumer Financial Protection Bureau appears to consider regulating technology to be critical to its mission of protecting consumers. Clearly, the growth of algorithms, machine learning, and artificial intelligence in financial services seems to be leading the Bureau to target problems caused by these tools. Technophiles often present automated decision-making …

Vacation and hospitality booking is the next wave in BNPL. Picture this. You’re on the beach. The sun is shining and the luxury resort you’re staying at is the farthest from home you’ve been in nearly two years. But you don’t worry about how much it costs. That’s because you, …

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 …

Square, the point-of-sale and e-commerce unit of Block Inc., said Tap to Pay on iPhone is now commercially available to its merchants following a June release to select sellers. Available within the Square Point of Sale iOS app, Tap to Pay on iPhone enables merchants to accept contactless payments directly …

Financial-technology provider Finastra said it is incorporating Visa Direct, a real-time push-payment capability developed by Visa Inc., as a cross-border payout offering for banks.Coinsquare, a crypto asset trading platform based in Canada, said it has agreed to acquire Simply Digital Technologies Inc., owner of the CoinSmart trading platform and a unit of …

Paysafe Ltd. said it will offer its payment gateway to international merchants using a payments orchestration platform from Spreedly.Payments provider Fortis said its services will be integrated with hotel property-management systems from Visual Matrix under a new agreement. Visual Matrix says more than 3,000 properties use its technology.Visa Inc. said it has processed more …

Long anticipated, a report from the Consumer Financial Protection Bureau offers suggestions on how regulation might aid the buy now, pay later industry, but doesn’t recommend a wholesale review of its practices. Among the risks outlined in the “Buy Now, Pay Later: Market trends and consumer impacts” report, released Thursday, are …

The open-banking platform MX Technologies Inc. has become the latest partner in Dwolla Inc.’s Secure Exchange solution. Through the partnership, which builds on the two companies’ existing relationship, digital-payments fintech Dwolla will be able to offer clients and reseller partners it has in common with MX access to account-verification services …

Lavu, a payments-technology provider specializing in restaurants, said it is partnering with Up ‘n Go, a vendor of contactless-payment technology based on QR codes, for pay-at-table checkouts.Data from the Bank of America Institute indicate overall consumer spending seen by the big bank in August was up 13% over the same month in …