Saturday , March 2, 2024

Bitpay’s Crypto Move And Other Digital Transactions News briefs from 10/25/23

  • Bitpay, a provider of cryptocurrency-based payments services, said it is working with crypto-technology provider Banxa to enlarge access to payments using digital currency.
  • Shield Compliance, a compliance provider for cannabis banking, issued an open letter to American Express, Discover, Mastercard, and Visa calling on the networks to permit financial institutions to process card payments for cannabis merchants.
  • Some 42% of risk and compliance officers at payments fintechs say enabling smooth payments while complying with fraud rules is “challenging,” but 69% say failure to adopt FedNow would hurt their firms, according to a survey by risk-technology firm Fenergo of 100 risk and compliance officers at fintechs specializing in payments.
  • Visa Inc. launched its Instant Savings program offering discounts on business products and services from companies such as Indeed, Microsoft, and Verizon Wireless.
  • Some 62% of buy now, pay later users say they use the service at least once a month, with the percentage rising to 74% for Millennials and three-quarters of Gen Z, though for Gen X the proportion using BNPL falls to 52%. That’s according to “Economic Impact of Buy Now, Pay Later in the U.S.,” a report from BNPL specialist Afterpay Ltd. that canvassed 1.390 U.S. BNPL users and 1,000 merchants that offer Afterpay. Afterpay is a unit of Block Inc.
  • The U.S. House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion is holding a hearing Wednesday on “Modernizing Financial Services through Innovation and Competition.” Jodie Kelley, chief executive of the Electronic Transactions Association, is expected to testify.
  • U.S.-based banking-software provider Paysett Corp. announced its client, Barbados-base Sagicor Bank, has launched a real-time payments service in the ISO 20022 messaging standard.
  • Payments provider Shift4 Payments Inc. is working with Zero Hash, a cryptocurrency technology provider, to process crypto-to-fiat transactions for Shift4 merchants that accept digital currencies.
  • Fraud-detection firm Sift has expanded its coverage to “non-traditional” payments, including those involving cryptocurrency wallets.
  • Point-of-sale terminal maker Ingenico said it and Jifiti, a white-label embedded finance fintech, will enable merchants to offer financing options via Jifiti through Ingenico’s cloud-based payments-platform-as-a-service. Options include installment loans, lines of credit, net terms, and split payments.

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