Mobile Commerce

The Federal Reserve’s planned launch in July of its FedNow service is widely expected to spur big growth in real-time payments in the U.S. market. That’s likely to happen, but the overall share of transaction volume for instant payments is expected to remain under 5% for at least the next …

Apple Inc.’s newest financial product, a buy now, pay later service called Apple Pay Later, has finally arrived. Launched Tuesday, Apple Pay Later was announced in June, but only now is it being made available, and just to a limited set of Apple Pay users. Apple says it will offer broader …

Losses to identity fraud fell 17% last year, to $43 billion, compared to 2021, thanks to beefed-up prevention at banks and credit unions and more active outreach by consumer-advocacy groups, according to the 20th edition of Javelin Strategy & Research’s Identity Fraud Study. Payments provider Paysafe said Greyhound Lines Inc. will use the Paysafecash …

Early Warning Services LLC, a fintech owned by seven of the nation’s largest banks, will launch its digital wallet with a pilot this summer followed by general availability in the fall, the top official in charge of the project said Monday. The new wallet, called Paze and aimed exclusively at …

Cryptocurrency marketplace and services provider Coinbase Global Inc. says it’s ready to fight the Securities and Exchange Commission if the commission takes an enforcement action against it. But the SEC’s possible action comes as no surprise to some observers of the crypto market. The SEC last week issued a so-called …

What’s the future of shopping going to be like? If consumers have their way, it will be more personalized and convenient, found the “Future of Shopping” report from Synchrony. And online retailer Newegg Commerce Inc. is incorporating artificial intelligence tool ChatGPT into its shopping protocols. With increased sophistication in personalization, …

First Citizens Bank & Trust Co. reached an agreement with the Federal Deposit Insurance Corp. to buy Silicon Valley Bridge Bank after a competitive bidding process. Terms include FCB’s assumption of $110 billion in assets, $56 billion in deposits, and $72 billion in loans. Starting Monday, the 17 SVB branches will operate as …

ChatGPT, the artificial intelligence-based chatbot developed by OpenAI, is being rolled out by Klarna AB to provide what the payments platform calls personalized and intuitive shopping experiences. Online shoppers will be able to ask Klarna, through the chatbot, for product recommendations, as well as receive links to shop recommended products …

Buy now, pay later provider Affirm Inc. announced its users can deploy the service at VersaClimber, a vendor of exercise machines. Cybersecurity firm McAfee Corp. will offer savings on online protection via a new agreement with Mastercard Inc.’s Easy Savings program, a service through which business cardholders receive rebates on common business expenses. Strike, …

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 …