Friday , March 29, 2024

Person-to-Person Payments

Fiserv Adds Its 500th Financial Institution to Zelle and other Digital Transactions News briefs from 12/10/20

Fiserv Inc. said CB&S Bank is the 500th financial institution added to the Zelle network via the processor. Zelle is the person-to-person payments service from Early Warning Services LLC.DaVinci Payments and North Lane Technologies (formerly Wirecard North America) jointly announced the completion of a previously announced merger. The combined business will operate …

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In a First, InComm Payments Enables Visa Gift Cards To Be Downloaded to Mobile Wallets

InComm Payments announced Tuesday that its Visa-branded Vanilla Gift Cards can now be downloaded to Apple Pay, Google Pay, and Samsung Pay mobile wallets, enabling the card to be used for contactless payments. It is the first open-loop Visa gift card to be supported on mobile wallets, InComm says. In …

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X9 Solicits Faster Payments Input and other Digital Transactions News briefs from 12/3/20

The Accredited Standards Committee X9 Inc. said it is seeking participants for a newly-formed a study group on faster and real-time payments. The ASC X9 develops national and international standards for the financial-services industry.Payments-technology provider Payfacto Payments Inc. has partnered with Community Federal Savings Bank to launch a merchant-acquiring unit for the U.S. market …

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Western Union’s Real-Time Payments Service Reaches a100-Country Milestone

The Western Union Co.’s  real-time digital payout service for sending money real-time to bank accounts, digital wallets, and cards, is now available in 100 countries. The service, which was announced in September 2019 at Western Union’s investor day conference, leverages Western Union’s more than 40 banking and payment partnerships covering more than …

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Visa Commercial Pay Debuts and other Digital Transactions News briefs from 11/23/20

Visa Inc. has formed a partnership with virtual-payments technology provider Conferma Pay to launch Visa Commercial Pay, a venture in virtual commercial cards. Available globally, the suite will be available from Visa’s financial institution clients. Visa and Conferma Pay have a long-standing relationship. “Consumerization of [business-to-business] payments has significantly accelerated during …

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A Revamped Google Pay Seeks Wider Appeal by Pushing Beyond Payments

Alphabet Inc.’s Google unit on Wednesday announced a major overhaul of its 5-year-old Google Pay wallet to push beyond mobile payments and incorporate links and data Google says will generate daily usage. The move comes as major payment apps such as Apple Pay and Google Pay have sought to boost …

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Cash App Delivers for Square in a Tough Year for Merchant Processing

In a year in which a fearsomely spreading virus has shut down many businesses and wrecked some, merchant-services provider Square Inc. has had to lean more heavily than ever on the other part of its business—the 7-year-old peer-to-peer payment service Cash App. And in the quarter ended Sept. 30, Cash …

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PayPal Enjoys a Robust Quarter As It Outlines a ‘Fundamental Overhaul’ of Its Apps

PayPal Holdings Inc.’s top executives late Monday laid out what chief executive Dan Schulman called “a fundamental overhaul” of the company’s PayPal and Venmo apps that will include a new cryptocurrency feature as well as bill payment and QR code capability on top of near-field communication technology and PayPal’s Pay …

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Zelle Logs Double-Digit Increases As Consumers And Businesses Contend With Covid-19

Spurred by consumers’ need to send money to family and friends during the Covid-19 pandemic and an increasing number of financial institutions being onboarded, the Zelle peer-to-peer payment network announced Monday it processed $84 billion in transactions during the third quarter of 2020, up 18% from the second quarter. Consumers …

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Western Union P2P Transactions up 6% and other Digital Transactions News briefs from 10/30/20

The Western Union Co. reported third-quarter revenue of $1.259 billion, down 4% year-over-year. Peer-to-peer transactions in the quarter totaled 77.3 million, up 6%.MoneyGram International Inc. reported third-quarter revenue of $323.2 million, down 1% year-over-year on a constant-currency basis. Digital transactions accounted for a 27% share of all money transfers in the quarter.Amazon.com …

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Digital Transactions