Issuing/Originating

The advent of real-time payments, account-to-account transfers, and card-based disbursements is making it easier for consumers to receive claims funds much quick than waiting for a paper check. State Farm Insurance Cos. is one of the latest providers with its release earlier this month of Digital Pay, a service provided …

With criminals continually devising ways to defeat rules-based applications used for detecting illicit cross-border payments, ThetaRay Ltd., an Israel-based cybersecurity and data-analytics firm, on Monday introduced SONAR, a software-as-a-service-based machine-learning application that detects known and unknown risks associated with cross-border payments. Using machine-learning algorithms, SONAR identifies normal characteristics within specific …

A payments trend that has gained some momentum during the pandemic is open banking, the idea that funds can validated and moved from an account to another one at a different bank inexpensively and by means other than cards or checks. On Thursday, that concept took a big step forward …

Passport Labs Inc., a parking-app developer, reported it has received $90 million in growth capital from Sixth Street Growth.Mastercard Inc. announced a line of prepaid cards that allows users to contribute to wildlife preservation. The program allocates $1 for each card purchased to Conservation International.Banking-software provider Temenos says money-transfer firm Wise joined the …

Paysafe Group Holdings Ltd. said Thursday it is launching in the U.S. market a digital version of its Visa-branded Skrill prepaid card. A Web version is available now, while an app that works with Paysafe’s Skrill wallet coming later this year. As with physical version of the card, the virtual …

While some parts of the economy slowed in 2020, criminals paid no mind to that as their phishing attacks against companies in the financial sector increased 45% over 2019 to 3.4 billion, Akamai Technologies Inc. found in its “State of the Internet / Security report: Phishing for Finance” released Wednesday. …

The Western Union Co. said its money transfer services are now available at almost 4,700 U.S. Walmart Inc. stores. The two companies announced the addition of Western Union in January.Grocery chain Food Lion said it is accepting the Supplemental Nutrition Assistance Program’s electronic benefit transfer card in the 10 states where the chain has …

Appetize Technologies Inc., a provider of point-of-sale technology for the hospitality and entertainment industries, launched Appetize Payments, which combines payment processing with the company’s cloud-based software.Ally Lending, the personal-lending unit of Ally Bank, a subsidiary of Ally Financial Inc., said buy now, pay later provider Sezzle Inc. will offer Ally’s longer-term …

Amid one of the greatest crises in a century, the way we execute commerce and pay for goods and services has seen an acceleration that will be with us long after we return to some semblance of normalcy. The Covid-19 pandemic has accelerated by five years or more the adoption …

While mobile-wallet ownership holds steady at 45%, younger consumers are embracing the payment technology more readily than they were 10 months ago, according to a research from the big processor FIS Inc. As of February, 65% of young Millennials use a mobile wallet, compared to 59% in April 2020. In …