Automated Clearing House

The big Montreal-based payments processor Nuvei Corp. said early Wednesday it will process investments in private companies through KoreConX, a technology provider specializing in enabling such payments for individual investors. Interestingly, the arrangement includes the use of both card and account-to-account networks to route customers’ investments, with a $50 minimum, …

J.P. Morgan Payments launched its pay-by-bank service, relying on open-banking technology from Mastercard Inc. The service lets customers pay bills directly from their bank accounts. Block Inc.’s Afterpay buy now, pay later platform announced a partnership with Nift Networks to offer users access to products and services offered by Nift. Point-of-sale system maker Revel …

Ninety-nine percent of large enterprises—those with annual revenue of $1 billion to $9.9 billion—expect to send real-time payments in the next five years, found the 2023 AFP Real-Time Payments Survey released by the Association for Financial Professionals and sponsored by The Clearing House Payments Co. LLC. It also found that 77% of …

The Payments Innovation Alliance released what it calls a tabletop exercise designed to help small and mid-size businesses prepare defenses against a cyberattack. The PIA is part of Nacha, the network operator for the automated clearing house network. Transact Campus Inc., a payments platform specializing in college campuses, announced a technical …

Most bankers know that today’s payments are broken. From keeping pace with evolving customer experiences, to navigating the changing regulatory environment, to overcoming competitive threats from nonbanks, many have become so frustrated they are debating whether to abandon some in-house payments channels entirely. Consumers, too, are becoming frustrated with the …

Consumers have come to expect an electronic payment to happen in seconds with zero or few errors, but for organizations the situation is a little more fraught. At least that’s the feedback from a new report, “The State of Payment Operations 2023,” from Modern Treasury Corp., a payments and financial …

Intuit Inc., developer of the QuickBooks accounting software and related services for small businesses, embedded itself further into the payments business on Wednesday when it unveiled QuickBooks Money. The free product allows businesses to send invoices accepting payment choices including credit, debit, automated clearing house, PayPal, Venmo, and Apple Pay …

Though not as credit and debit card friendly as some industries, the legalized cannabis industry continues to create opportunities for payments companies. Among the latest developments are the release of POSaBIT Systems Corp.’s latest point-of-sale system and a new program from Organic Payment Gateways. Bellevue, Wash.-based POSaBIT says its POSaBIT …

Prepaid card platform Blackhawk Network said it is working with Visa Inc. to convert its Visa-branded cards from plastic to paper-based materials. Payments provider Central Payments released PayCP, its payout platform that initially includes a virtual Discover prepaid card, a physical Discover prepaid card, push to debit cards via Mastercard Send, and ACH bank …

Buy now, pay later provider Affirm Inc. posted fiscal fourth quarter revenue of $445.8 million, up 22.4% from $364.1 million in the quarter ended June 30, 2022. Its quarterly loss of $206 million broadened from $186.4 million a year ago. For the full year, Affirm had $1.588 billion in revenue, up 17.7% …