Tuesday , September 22, 2020

Issuing/Originating

EVO’s Turn to Visa Direct Casts a Spotlight on the Potential for Real-Time Merchant Settlement

Real-time payment flows are coming to processor settlements with merchants as Visa Inc. enlarges the market for its Visa Direct push-payment service. The latest development emerged this week with EVO Payments Inc.’s launch of EVO Direct Deposit, a service that relies on Visa Direct to credit U.S. merchant accounts. The …

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In the Midst of the Pandemic, Fintechs Launch Services to Speed Wages to Workers

As workers struggle with cash-flow issues that in some cases were worsened by the coronavirus pandemic, banks and fintechs are working to get wages into employees’ hands faster—sometimes in real time. Two such developments emerged this week from Square Inc. and Immediate Solutions Inc., a company that specializes in speeding …

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Avon Calls on Apexx for Processing and other Digital Transactions News briefs from 9/16/20

Beauty-products marketer Avon International has recruited payments provider Apexx Global to process consumer payments to Avon representatives across global markets. Apexx supports credit and debit cards, PayPal, Apple Pay, and Android Pay as well as local payment methods.As the holiday shopping season nears, 39% of merchants surveyed by PayPal Holdings Inc. plan to sell …

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Payroc Acquires eConduit and other Digital Transactions News brief from 9/15/20

Payments provider Payroc Intermediate Holdings LLC has acquired technology provider Blackline Partners LLC, which does business as eConduit. Blackline provides a Web-based API by which software companies can enable clients to accept EMV payments.Visa Canada launched Click to Pay in that country. Click to Pay is based on the EMV Secure Remote Commerce standard for …

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How NCR And Kasisto Have Linked to Widen AI Availability for Banks’ Digital Channels

With consumer demand for personalized digital experiences growing, NCR Corp. announced Monday it is integrating Kasisto Inc.’s KAI digital experience platform in its digital-banking platform. Kasisto’s KAI platform uses automated conversational banking technology to interact with consumers through digital channels in a human-like way. This allows banks to deploy intelligent, …

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As FDX Brings Its Membership to 140, Momentum Builds for a Data-Exchange Standard

Momentum behind a standard for the exchange of consumers’ financial data between fintech apps and banks gained strength Monday with an announcement that a trade group supporting the standard has added 39 members since April. The group, the Reston, Va.-based Financial Data Exchange LLC, now claims a membership of 140 firms, …

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ATM Withdrawals Decrease and other Digital Transactions News briefs from 9/14/20

Cash ATM withdrawals were down 14.6% for the week ending Sept. 6 among credit unions serviced by PSCU. The credit union service organization’s weekly transaction trends report found that while down, the rate is better than the 21.8% average decrease for the past four weeks.Co-Op Financial Services said an alliance with debit …

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COMMENTARY: What Will the Future Hold for Chargebacks in Digital Payments?

The chargeback process was introduced more than four decades ago as a consumer-protection mechanism. It was meant to inspire consumer confidence in payment cards, which were still a novel concept at the time. Fast-forward to today, though, and these forced payment reversals have evolved into a significant problem for online …

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Why Visa And PayPal Are Bringing Real-Time Expediency to Cross-Border Payments

PayPal Holdings Inc. and Visa Inc. are adding cross-border payments to an agreement to route payments made through PayPal’s Instant Transfer Service through the Visa Direct platform. The expanded agreement will allow consumers and small businesses to send or receive money to or from a Visa card account in real-time …

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TCH Says Its Real Time Payments Network Can Potentially Reach 70% of U.S. Accounts

The years-long effort to bring real-time payments to the United States picked up steam on Thursday with an announcement from The Clearing House Payments Co. LLC that 70% of U.S. deposit accounts can now access real-time capability via agreements between TCH and third-party processors. “What we’re talking about here is …

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