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- At least a couple of banks—Bank of America Corp. and Wells Fargo & Co.—are proponents of expanding the Zelle peer-to-peer payments service to retail payments, The Wall Street Journal reported. Owned by Early Warning Services LLC, itself owned by seven of the largest U.S. banks including BofA and Wells, Zelle offers account-to-account payments. The issue is how promoting Zelle for retail payments might affect the banks’ card payment business, which generates interchange and other issuing revenue, the Journalreported.
- Online checkout provider Fast abruptly ceased operations Tuesday with an announcement it was closing its doors. “With that, we regret to share that we will discontinue Fast Checkout as a payment method for you to use on your favorite sellers,” the post said.
- The Clearing House Payments Co. LLC said it is increasing the transaction value limit on its Real Time Payments network to $1 million beginning April 18, closely following a similar move by Nacha to increase the same-day ACH limit to $1 million that took effect in March. TCH said more than 230 financial institutions are on its RTP network.
- Block Inc. reported a breach of its Cash App Investing LLC unit on Dec. 10 caused by a former employee. In a Securities and Exchange Commission filing, Block noted it is contacting 8.2 million current and former customers about the incident. Though Block did not disclose what was captured, it noted usernames, passwords, Social Security numbers, payment card information, and similar data was not in the breached data.
- Point-of-sale services provider CardFlight Inc. said more than 100,000 merchants use its SwipeSimple payment-acceptance technology, which is available in three software packages.
- FIS Inc.’s Worldpay unit announced it will offer settlement directly in USD Coin, a digital currency pegged to the U.S. dollar. In conjunction with Circle Internet Financial LLC, the settlement service will provide merchants with an option that caters to their preferred currency for conducting business, FIS said.
- ThetaRay, a cybersecurity and data-analytics firm, said it will integrate Screena’s sanction-screening service into its SONAR transaction monitoring service.
- Tassat Group Inc. added Fedwire wire-payments capability to its TassatPay service for bank clients.
- PayGround, a health care payments fintech, said it is working with Plastiq, a payments platform, to enable patients to pay any health care provider via the PayGround app.
- Discover Financial Services launched its Cashback Debit checking account that provides rewards for debit card use.
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