Friday , March 29, 2024

Person-to-Person Payments

Western Union Notes Money Transfer Milestone in China and other Digital Transactions News briefs from 1/10/20

The Western Union Co. announced it has worked with Du Xiaoman Financial, formerly the China-based fintech Baidu Finance, to launch Western Union international money transfers paid in real time into what the partners say is a majority of bank accounts in China.Ternio LLC said it has cut the minimum balance on its …

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MoneyGram Notes Growth and other Digital Transactions News briefs from 1/6/20

MoneyGram International Inc. announced online transactions grew more than 70% year-over-year between Dec. 1 and Dec. 25, a record growth rate for that period. The money-transfer provider, which did not report the actual transaction volume, said 80% of the transactions were initiated on a mobile device.PayPal Holdings Inc. has closed on its …

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Citcon Prevails in Source Code Lawsuit and other Digital Transactions News briefs from 12/26/19

Citcon USA LLC said it prevailed in a lawsuit against Canada-based RiverPay Inc. over allegations of misappropriation of source code trade secrets. Citcon, which helps North American merchants integrate Chinese mobile wallet acceptance, sued RiverPay in 2018 in the U.S. District Court for the Northern District of California because it said RiverPay …

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It’s Official: Same-Day ACH Gets a Third Settlement Window, Effective March 2021

In a move that could have wide-ranging implications for a variety of payments, the Federal Reserve on Monday announced it will support a third settlement window each day for same-day automated clearing house transactions. The later settlement time, which ACH rule-making authority Nacha and a number of banks have long …

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InComm’s Vanilla Visa Debuts in Mexico and other Digital Transactions News briefs from 12/20/19

InComm, a provider of payments processing for the prepaid market, launched its Vanilla Visa prepaid and gift cards in Mexico.Levelset, a payments provider for the construction industry, announced a $30-million funding round led by Horizons Ventures.Butterfly Network Inc., provider of a handheld ultrasound application for mobile devices, said its technology …

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Payrailz To Test Bill Pay Exchange and other Digital Transactions News briefs from 12/18/19

Payrailz LLC, a payments provider for financial institutions, said it will pilot Mastercard Inc.’s Bill Pay Exchange, a real-time bill-payment service.Facebook Inc. and Alphabet Inc.’s Google unit claimed the first and second slots on Dashlane Inc.’s annual list of “worst password offenders” in 2019, Facebook for exposing passwords linked to “hundreds …

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Bill Ready Going to Google and other Digital Transactions News briefs from 12/12/19

Departing PayPal Holdings Inc. chief operating officer Bill Ready in January will assume the role of head of commerce at Alphabet Inc.’s Google unit, TechCrunch reported. PayPal announced in June that he would leave the company at year’s end. Ready came to PayPal in 2013 as a result of the company’s $800-million …

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BofA Adding Merchant-Related Information for Cardholders to Its Erica Digital Assistant

Bank of America Corp. next year will enhance Erica, its popular digital financial assistant powered by artificial intelligence, with two new features—one to make its credit and debit card holders aware of which merchants might be storing their card numbers, and another that will issue alerts about possible duplicate charges. …

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MoneyGram’s Launch of Visa Direct Overseas Spotlights Visa’s Strategy for Cross-Border Payments

Visa Inc. is working fast to expand its foothold in cross-border remittances, a relatively new market for the card network. On Wednesday, MoneyGram International Inc. announced it is the first remittance service to allow international transfers that rely on Visa Direct, a push-payment service that enables real-time transfers to holders …

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X9 To Reboot PKI and other Digital Transactions News briefs from 12/4/19

The Accredited Standards Committee X9 Inc., which sets standards for financial services, said it has restarted its X9F5 working group, the committee that developed the original standards underpinning public key infrastructure (PKI). The new group will work on new PKI standards that will address needs in the financial-services industry apart from …

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