Account-to-account payments is becoming a growing force in the payments landscape, totaling $525 billion in global e-commerce transaction value in 2022, up from $463 billion in 2021, a 13% increase, according to the FIS Global Payments Report 2023. The volume was funneled through about 70 real-time payment schemes providing high-speed …
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The Federal Trade Commission issued a proposed rule that would require sellers to offer a “click to cancel” button that customers could use to more easily stop subscriptions and recurring payments. A global survey on cross-border payments found 29% of mid-size and large U.S. businesses cite high transaction cost as a challenge, …
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Panera Bread on Wednesday announced it is adopting Amazon One, Amazon.com Inc.’s biometric-payment technology, at select locations in the St. Louis area. The deployment of Amazon One, which links a customer’s payment card to his or her palm print, is expected to make it easier for Panera customers to access …
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No surprise, the top merchant acquirer by payment volume remains JPMorgan Chase & Co., according to the 2023 edition of Directory of U.S. Merchant Acquirers from TSG, formerly known as The Strawhecker Group. With volume of $2.15 trillion, Chase retained the top spot last year that it has held since …
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Tassat Group Inc., a provider of real-time business-to-business payments based on blockchain technology, said its client-facing application programming interface enables an “on-ramp” to FedNow, the Federal Reserve’s real-time payments service, which is expected to begin commercial service in July. Liquidity Financial launched CauseCard, a Visa-branded debit card with a connected app …
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With the Federal Reserve’s announcement last week that it will launch its FedNow real-time payments service in July, technology firms are jockeying for position as the appetite for faster payments grows worldwide. One big development emerged early Tuesday with an announcement from London-based payments-software firm Finastra Group Holdings Ltd. that …
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Lux Vending LLC, which does business as Bitcoin ATM operator Bitcoin Depot Inc., has agreed to deploy its machines in 125 locations owned by convenience-store chain GetGo Cafe + Market. Overall, Bitcoin Depot operates approximately 7,000 machines in 48 states and 10 Canadian provinces. Digital-currency provider Circle Internet Financial LLC said it has …
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Fiserv Inc. is partnering with Central Payments LLC, a provider of banking-as-a-service for fintechs and embedded-finance businesses, to enable fintechs to bring financial products and services to market faster. Central Payments will leverage Fiserv’s real-time card-processing and -issuance capabilities to enhance its Open CP Fintech API Marketplace, a banking-as-a-service platform …
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Mastercard Inc. is adding another arrow of digital-security technology in its cybersecurity quiver with the acquisition of Baffin Bay Networks, a Sweden-based cybersecurity company. Payments companies constantly need advanced ways to counter fraud because criminals are relentless. In fact, credit card fraud accounted for 6.2% of digital fraud in 2020, …
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Payments-technology fintech Preferred Payments is working with WebbRes, a provider of management systems for trailer dealers, to enable dealers to process payments within the WebbRes platform. Ascend, a provider of payments technology to the insurance industry, announced an integration with the AMS360 agency-management platform from Vertafore. The Western Union Co. said money transfers …
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