Wednesday , August 15, 2018

Person-to-Person Payments

Eye on Crypto: Square Takes Bitcoin to 50 States; A Former Top Visa Exec Touts Easier Transfers

Users of Square Inc.’s Cash App can now buy and sell Bitcoin in all states, according to a tweet the company sent at mid-day Monday. The Bitcoin capability, which Square introduced in November as a pilot, is hardly a major business for the San Francisco-based payments company, but it is starting …

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Following Mastercard’s Crypto Patent, Intuit Wins One for Bitcoin Transfers Via Text Messages

Bitcoin’s volatility may have dampened the payments industry’s enthusiasm for the cryptocurrency, but payments players are now reaping patent awards for Bitcoin-related inventions they filed years ago. The latest example is Intuit Inc., the Mountain View, Calif.-based company behind the popular Quicken and QuickBooks accounting programs for consumers and small …

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With Some Fast-Growing Programs, Green Dot Hopes Its BaaS Becomes a Whale

Green Dot Corp. executives played up their “banking-as-a-service” platform Wednesday as the company reported strong second-quarter growth in most of its business lines, but they said little about the support they provide for Apple Inc.’s Apple Pay Cash service. Pasadena, Calif.-based Green Dot supplies the virtual prepaid card that customers …

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Apple Pay on Top of Consumer Reports’ Mobile P2P Assessment

With a focus on data privacy and security, a review of five mobile person-to-person payment services places Apple Pay at the top, Consumer Reports says. Released Monday, the report from the product-review magazine evaluated Apple Inc.’s Apple Pay, PayPal Holdings Inc.’s Venmo, Square Inc.’s Cash app; Facebook Inc.’s Messenger, and Early …

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Eye on Data: Site Linked to the ICBA’s Bank Leaks Data; Report Says Facebook Wants To Display Card Transactions

A Web-site glitch involving The Independent Community Bankers of America’s bank subsidiary exposed personal data about thousands of credit card applicants for more than a year, according to a report. Meanwhile, The Wall Street Journal on Monday reported that social-media titan Facebook Inc. has asked some of the nation’s largest …

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On a Hot Streak, the ACH Network Has Racked up 5%-Plus Growth in 12 of the Last 14 Quarters

The growth surge at the nation’s automated clearing house network shows no signs of slowing down. The payments system handled 5.68 billion transactions in the quarter ended June 30, a 6.2% increase year-over-year, according to numbers from Herndon, Va.-based NACHA, the network’s governing body. The network has now notched growth …

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Chase Activates Cardless ATM Access and other Digital Transactions News briefs from 8/3/18

Chase, a unit of JPMorgan Chase & Co., enabled cardless ATM access at nearly all of its 16,000 ATMs nationwide when consumers use Apple Pay, Google Pay, or Samsung Pay loaded with a Chase debit or Liquid card. In related news, Chase said Los Angeles-area consumers can use Chase Pay …

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Will It Or Won’t It? Square Stays Vague on OCC Charter in Second-Quarter Earnings Call

Will Square Inc. apply for a national banking charter, now that the Office of the Comptroller of the Currency has opened the door to financial-technology firms? As of late Wednesday, the answer remains unclear. “We’re really well-positioned to broaden access to the financial system, which is our core purpose,” said …

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Apple Pay Tops 1 Billion Quarterly Transactions As CVS and 7-Eleven Prepare To Accept It

Apple Inc. said Apple Pay transactions surpassed 1 billion in the company’s third quarter, ended June 30. During an earnings call with analysts Tuesday, Apple chief executive Tim Cook said the 1-billion mark was triple the amount a year ago. “To put that tremendous growth into perspective, this past quarter, …

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Reports Show How Fast P2P Payments Are Growing for Bank And Nonbank Providers

Long an afterthought in payments, peer-to-peer transfers are top-of-mind in the industry just now, and this week three reports emerged to show just how fast the payment type is growing for bank and nonbank networks alike. The bank-owned Zelle network processed 100 million transactions totaling $28 billion in the three …

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