News

June, 2023

• 5 June

  Eschewing Card Payments, Startup Sway Money Exceeds Its Funding Goal

  

  Sparing merchants card-acceptance fees is the fuel that has propelled alternative payments options, such as account-to-account transactions. One startup benefitting from this trend is London-based Sway Money Ltd., which enables merchants to accept account-to-account payments using a QR code and an off-the-shelf mobile device. Sway, which was incorporated in December …
• 5 June

  Mercedes-Benz Puts Parking Payments in the Dashboard

  

  Finding and paying for parking can be a hassle, but Mercedes-Benz, the German automaker, is hoping its new in-car parking payment service can help with that. Newly released as part of the MBUX infotainment system in eligible U.S. Mercedes-Benz vehicles, the parking service enables motorists to find off-street parking and …
• 5 June

  Chase Resolves Double Debit Issue And Other Digital Transactions News briefs from 6/5/23

  

  JPMorgan Chase & Co. late on Friday said it had resolved an issue that was generating duplicate online transactions and fees on customers’ checking accounts. The bank said it was issuing refunds or reversing transactions. At least some of the transactions had been generated through the Zelle peer-to-peer payments platform, though …
• 2 June

  A Snafu at Chase Doubles Debits for Zelle Users

  

  [Updated with new information over the weekend] An unknown number of Chase online-banking customers experienced duplicate Zelle debits to their accounts on Friday, while most anecdotal evidence suggests payees received only one payment. Zelle, the online peer-to-peer payment service, is integrated into Chase’s mobile app and online site. Early Warning …
• 2 June

  Payments Tech Giant Stripe Launches a Charge Card Program for Small Businesses

  

  Eyeing an opportunity among cash-strapped small businesses, Stripe Inc. has jumped into the virtual credit card game with the launch of a charge card program for Stripe Issuing, the San Francisco-based processor’s commercial card program. The new program will be offered through fintechs serving small businesses. Announced late Thursday, the …
• 2 June

  CFPB Notes Payment App Insurance Lacking And Other Digital Transactions News briefs from 6/2/23

  

  The payments industry is beginning to react to a report this week from the Consumer Financial Protection Bureau alerting consumers to the lack of federal deposit insurance for funds held in nonbank payment apps. The CFPB’s report appears to be a cautionary note rather than a call for regulation, at least for …
• 1 June

  Cross River And Paymints Enable Real Estate Payments Via the ACH

  

  Cross River Bank and Paymints.io Corp., a software-as-a-service platform provider for real estate payments, are teaming up to enable real-estate payments through the automated clearing house. The service will utilize the ACH rails, including same-day ACH payments, as well as wire transfers, to facilitate such payments as earnest money, cash …
• 1 June

  Eye on Wallets: Google Wallet Adds Driver’s License Storage; Alipay’s Apple Pay Integration

  

  Google Wallet is adding the ability to store a digital image of a state-issued ID card along with several other features announced Thursday. In related news, Alipay, a China-based digital wallet with an estimated 1.3 billion users, is enabling users to add Alipay to their Apple IDs for use with …
• 1 June

  J.P. Morgan’s New Marketplace And Other Digital Transactions News briefs from 6/1/23

  

  J.P. Morgan launched its Payments Partner Network, a cloud-based online marketplace for payments providers integrated with the banking giant’s payments platform. The marketplace’s technology is supported by Salesforce. Five-year-old cryptocurrency-wallet provider Magic raised $52 million in a funding round led by PayPal Ventures. The round brings Magic’s total raise to $80 million. Digital …

May, 2023

• 31 May

  Evolving your payments strategy for the new consumer experience

  

  Steven Velasquez, Senior Vice President and Head of Partner Business Development – Elavon, Inc. Delivering payments that meet consumer demand As AI, ChatGPT, and the increased adoption of instant payments become more prevalent in our day-to-day lives, the impact of truly connected payments is upending the traditional consumer experience. The …