Early Warning Services LLC has for several years now been defending its popular Zelle payments service against allegations that its users suffer excessive losses to scams and fraud. The issue reached a crescendo three years ago with criticism from U.S. Senators about the peer-to-peer payments service’s fraud rates. With the …

MoneyGram International Inc. on Wednesday unveiled a mobile app featuring a U.S. dollar-backed stored-value account that will work with stablecoins as well as fiat currencies. The move, which comes as interest in stablecoins heats up in the mainstream payments market, represents a sweeping update of the remittance company’s mobile technology and …

The Federal Reserve said Tuesday it will raise the transaction limit on FedNow transactions tenfold, to $10 million, effective in November. Launched in July 2023, FedNow is a real-time payments system linking more than 1,400 U.S. financial institutions. The move will have come nine months after the rival Real Time …

The continuing popularity of the buy now, pay later won the attention of financial institutions some time ago, and now credit unions are starting to get in on the act. That news emerged Thursday as statistics from the big BNPL platform Affirm Inc. showed that the increasingly popular shopping service …

Finastra, a London-based developer of payments software for banks, said Wednesday it will work with Circle Internet Group Inc. to let banks include stablecoin settlement in their cross-border payments processing. In related news, the cross-border payments technology provider Tazapay announced it has closed on a Series B round with funding …

The U.S. cannabis market, which saw $30.1 billion in sales last year, is growing at an accelerating pace, and that’s attracting the attention of processors and other providers. The market’s emergence as a fertile payments-processing market comes as it continues to wrestle with regulatory issues and limited banking services. POSaBIT …

Stablecoin giant Circle Internet Group Inc. early Tuesday unveiled Arc, a new payments platform aimed at major money flows, including foreign exchange. The new service, part of the existing Circle Payments Network, will speed up foreign exchange while offering what the company calls “sub-second instant finality” in settlement, the company …

Global Payments Inc. is focusing on its new Genius point-of-sale initiative as it prepares to welcome the big merchant processor Worldpay into its fold, the Atlanta-based company’s top executives said early Wednesday. Global launched Genius for restaurants in May, with Genius for retail following last month. Now, the revamped POS …

Shift4 Payments Inc.’s top brass early Tuesday celebrated the long-awaited July 3 closing on its $2.5 billion deal to acquire Global Blue, a Switzerland -based international platform providing transaction services to high-end merchants. The deal clinches a major position internationally for the acquisitive processor, executives said on a call with …

Having fought back from the ravages of the pandemic, quick-service restaurants now represent a large and fast-growing market for providers of point-of-sale technology—but also one presenting new and vexing challenges, according to top payments executives who specialize in this industry. For fast-food or fast-casual restaurants, “building a point of sale …