Sunday , September 27, 2020

BofA’s Zelle Volume Booms and other Digital Transactions News briefs from 1/16/19

  • Bank of America Corp. reported its customers using the Zelle person-to-person payment network totaled 4.9 million in 2018’s fourth quarter, up by a factor of 2.4 since Zelle’s June 2017 launch. Zelle volume at BofA for the quarter totaled $14 billion on 51.6 million transactions, up from $7 billion on 23.1 million transactions in the year-ago quarter.
  • U.S. Bancorp, owner of merchant acquirer Elavon, reported $389 million in non-interest income from merchant-processing services in the fourth quarter, up 4% from $374 million a year earlier.
  • Intellicheck and Applied Recognition Inc. agreed to use each other’s technology to help improve identity verification and thwart fraud. Intellicheck specializes in real-time ID and age verification. Applied Recognition provides facial-recognition technology.
  • Payment gateway First Atlantic Commerce and payments provider Powertranz Ltd. launched Powertranz, a platform they say provides the first integrated card-present EMV payment service in the Caribbean market.
  • A voice-commerce startup called Convercart launched a furniture site that allows customers to talk to design consultants and buy products via Facebook Messenger.

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