Digital Transactions Authoritative, insightful and timely information for payments professionals

Five years on, the Real Time Payments network from The Clearing House Payments Co. LLC continues to gain new members outside of legacy banking. The latest is NorthOne, a fintech that offers financial management services for small businesses, startups, and freelancers. New York City-based NorthOne, which was founded in 2016, …

Ackroo Inc., a point-of-sale marketing and payments platform, said it has closed on its acquisition of Simpliconnect, a cloud-based marketing service for service stations and convenience stores. Under the terms of the deal, Ackroo paid $750,000 at the close and will make six monthly cash payments of $125,000 starting July …

Payments provider Paya Inc. has agreed to supply point-of-sale systems supplier 1Retail with technology that enables EMV contactless and stored payments in enterprise resource planning (ERP) software from Acumatica Cloud. The deal provides Paya’s and 1Retail’s mutual customers running the Acumatica ERP platform with a POS system that works in …

Point-of-sale system maker TouchBistro released its 2023 “State of Restaurants” report that found 76% of restaurant operators changed their POS systems in the past year and 66% used a system with an integrated payment processing service. The study, now in its fifth year, was based on research from 600 full service restaurant …

Not all countries, companies, and persons will suffer equally from inflation in 2023, as Europe will see a decline in economic activity while the U.S. market will experience limited economic growth, forecasts the Mastercard Economics Institute. Food-service provider Sodexo North America’s InReach unit has contracted with payments provider Cantaloupe to upgrade 18,800 vending machiens and …

Airwallex, an Australia-based fintech, has partnered with Plaid Inc. to enable merchants in the United States to streamline transactions initiated through the automated clearing house. Airwallex merchants can leverage Plaid’s open-banking technology to authorize adding funds to their Airwallex wallet from an external bank account or to accept payments from …

The growth of real-time payments over the next five years will gain momentum from cross-border transfers in a global economy, according to research released early Monday. Indeed, the total number of real-time transactions, also known as instant payments, worldwide will reach 376 billion in 2027, up 289% from 97 billion, …

Buy now, pay later provider Splitit Inc. said data from the Black Friday and Cyber Monday shopping events found that the top spending categories on its platform were electronics, fine jewelry, fitness and outdoors, home furnishings, and health and beauty, based on merchant sales volume. Consumers have hidden bill pay costs of …

Looking to speed payments through the automated clearing house while reducing risk, Plaid Inc. announced late Thursday the rollout of Signal, a machine-learning risk engine. Plaid has been piloting Signal for more than a year with select customers that generate high ACH volumes. To accelerate ACH transactions and make them …

As the market for real-time payments continues to develop in the United States—and as the Federal Reserve prepares for a commercial launch of its own real-time network next year—The Clearing House Payments Co. is celebrating the five-year anniversary this month for its own nationwide service. “We keep plowing forward,” Jim …

Overall consumer spending per household moderated in October compared to September, up 2.9% year-over-year vs. 3.2%, according to a study from Bank of America Institute. Still, total transactions for the bank—cards, ACH, wires, bill pay, P2P, cash, and checks—increased 9%. Payments provider Green Dot Corp. reported consolidated gross dollar volume of $18.7 billion …

Socure Inc., a provider of digital-identity verification and fraud detection, has become the latest company to join the expanding universe of open-banking technology providers. On Tuesday, Socure announced the launch of Socure Account Intelligence, an application that verifies domestic bank-account status and ownership of the account into which funds are …

While the payments business moves toward real-time transfers, faster payments on the nation’s automated clearing house network continue their dramatic rise following a 10-fold increase in the transaction dollar limit earlier this year. Transactions cleared the same day they’re initiated totaled 176.6 million in the quarter ended Sept. 30, up …

BNY Mellon announced early Monday it has launched a payments platform called Vaia, which allows clients to offer real-time payments, same-day automated clearing house transfers, tokenized payments, debit cards, and payments through the Zelle peer-to-peer payments network. The nation’s 10th-largest bank by assets said the panoply of payments capabilities can …

Fraud prevention services provider Signifyd launched Fearless Payments, a suite of services to help payment service providers increase authorization rates. Among its features are automated risk decisions, authorization rate optimization, and chargeback guarantees on all approved orders.Diebold Nixdorf Inc. announced it will integrate fraud-prevention technology from Featurespace into its Vynamic payments-processing platform.CSG Forte, …

Priority Technology Holdings Inc. said it is working to integrate omnichannel products from Valor PayTech into the Priority MX Merchant ecosystem.Raiven Capital said it has exited from an unspecified early-stage investment in Whizmo, a fintech that helps small businesses in emerging countries convert from cash acceptance to contactless payments.Mastercard Inc. launched Start Path …

OnShift Inc., a provider of human-capital management software for caregivers, is dropping the fees for earned-wage access through its digital wallet. OnShift’s wallet runs on the Payactiv platform. As part of the new arrangement, senior care workers using the OnShift wallet can access a portion of their earned wages outside …

Despite economic headwinds from supply-chain bottlenecks and geopolitical instability, the payments industry continues to show resilient revenue growth, says a new report from the Boston Consulting Group. Global payments revenues are projected to grow about 9.5% in 2022, according to the report. Beyond this year, revenues are projected to grow …

Square, the point-of-sale and e-commerce unit of Block Inc., said Tap to Pay on iPhone is now commercially available to its merchants following a June release to select sellers. Available within the Square Point of Sale iOS app, Tap to Pay on iPhone enables merchants to accept contactless payments directly …

Volante Technologies, a U.S.-based payments platform, said it is providing a banking portal for ACH Colombia, a fintech based in that South American country, as part of an effort to digitize ACH Colombia’s payments infrastructure.Payments-technology company Payscout LLC said it will offer a direct link to its Paywire platform to users of …