Person-to-Person Payments

PayPal Holdings Inc. announced early Monday that Alex Chriss, a long-time executive at Intuit Inc., will take over in September as chief executive, replacing Dan Schulman, who in February triggered the hunt for his successor when he announced he would retire later this year. Chriss, a 19-year veteran at Mountain …

Early Warning Services LLC, which operates the Zelle peer-to-peer payment network, announced early Friday it has appointed Cameron Fowler as chief executive, effective October 2, 2023. Fowler replaces Albert Ko, who left the company in May to become CEO of Auctane, which provides shipping software and operates such brands as …

Block Inc., corporate parent of Square and Cash App, posted $5.5 billion in second-quarter revenue, a 25% jump from $4.4 billion in the same quarter a year ago, as the payments provider pushes on with its move to add larger merchants. The midmarket segment now accounts for 40% of its …

F.N.B. Corp., with its First National Bank unit, agreed to be the sole provider of ATMs for the Washington Metropolitan Area Transit Authority, said to be the third-largest U.S. rail system. The push-payments platform Checkbook announced an integration with the peer-to-peer payments provider Zelle to enable instant payments for Checkbook users. Transact Campus, a …

Growth in same-day automated clearing house volumes slowed in the second quarter, but same-day ACH is still posting impressive gains from 2022, according to the latest data from ACH governing body Nacha. Herndon, Va.-based Nacha says the second quarter saw 199.4 million same-day ACH payments, up 7.7% from 185.1 million …

Six years after its launch, the RTP Network surpassed 500 million real-time payments on Saturday, network operator The Clearing House Payments Co. reported Monday. The announcement at least temporarily shines the spotlight back onto the current leader in real-time payments in the wake of last week’s much-anticipated launch of the …

The Federal Reserve’s instant-payment service, FedNow, is officially live with 35 banks and credit unions participating, the nation’s banking regulator announced early Thursday. The launch, which culminates four years of work since the Fed first announced its intention to build a real-time payments rail, comes as the payments industry moves …

The Federal Reserve could launch its FedNow real-time payments service as early as tomorrow, sources tell Digital Transactions News. The network, which has been under development for nearly four years, represents the regulator’s first effort to create a nationwide network for instant payments, a service that other countries, and at …

Risk-management technology provider Feedzai has harnessed artificial intelligence with the introduction of Railgun, its latest fraud-detection engine. What differentiates Railgun, according to Feedzai, is that it taps real-time data such as customer behavior patterns and the use of specific cards across merchant networks over longer periods of time. As a …

Open banking, the system enabling seamless sharing of financial data via application programming interfaces between banks and third-party service providers, has captured global attention over the past several years. In 2018, the Second Payment Services Directive (PSD2) marked the official open-banking era by mandating data sharing in Europe. This milestone paved …