Wednesday , December 13, 2017

More Bank Investment in Real-Time Payments and other Digital Transactions News briefs from 12/5/17

  • Finastra, a banking-technology services firm, announced PNC Bank, a unit of The PNC Financial Services Group Inc., is using its services as part of the bank’s participation in RTP, the real-time payments service from The Clearing House.
  • Fifty-percent of U.S. banks plan to increase their investments in real-time payment systems in 2018 versus what they spent in 2017, finds “The Rise of Real-Time Payments in North America” report from researcher Ovum, commissioned by Icon Solutions. The report also found that 42% of U.S. banks intend to spend more on ACH and wholesale payments next year.
  • Rentec Direct, developer of property-management software, released a mobile app that enables renters to pay their rents via automated clearing house payments or with a credit or debit card.
  • Datacrushers, a company specializing in reducing shopping cart abandonment, announced it is offering Splitit services to merchants. Splitit is a consumer finance service.
  • Processor Fiserv Inc. said it will provide debit card and ATM processing and network services along with fraud-mitigation services to Boiling Springs Savings Bank in northeastern New Jersey and North Shore Trust and Savings in Waukegan, Ill.
  • Corporate payments services provider WEX Inc. said it will provide more than 25,000 fleet-fueling cards to telecommunications giant Verizon Communications Inc. under a new three-year contract.
  • Mastercard Inc. announced a new, $4 billion stock buy-back program and raised its quarterly dividend by 14% to 25 cents per share from the current 22 cents.
  • Sage Payment Solutions said payments veteran Greg Cohen joined the company as chief operating officer. Cohen most recently worked at iPayment as president and chief operating officer. Sage also said Darrell Winfield has joined the company as chief information officer.
  • Processors Vantiv Inc. and London-based Worldpay Group plc announced the top leadership team for the combined company, whose proposed merger is awaiting shareholder and court approvals. The companies expect the $9.9 billion deal to close in January.

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