News

September, 2023

• 27 September

  The Fed on Request for Payment And Other Digital Transactions News briefs from 9/27/23

  

  The Federal Reserve issued a set of market practices, or a kind of blueprint, as part of an effort to introduce standards for a request for payment function for bill pay on the regulator’s FedNow real-time payments service, which launched nationwide in July. Block Inc.’s Square point-of-sale unit launched Tap to Pay on Android …
• 26 September

  Eye on Crypto: A MoneyGram Launch; Wirex Partners With OnRamper; Bitget Lists PayPal’s Stablecoin

  

  MoneyGram International Inc. announced Tuesday it will launch in the first quarter next year a non-custodial digital wallet that will support stablecoins. The wallet’s support of stablecoins—digital currency tied to the value of a national fiat currency, such as the dollar— will enable consumers to move from fiat currency to …
• 26 September

  Eye on Block: Citcon Adds Cash App Pay and Afterpay; Square’s New Sales Features Target Holiday Shopping

  

  Citcon USA LLC, an e-commerce wallet-technology provider, is adding Block Inc.’s Cash App Pay and Afterpay buy now, pay later payment methods to its inventory of merchant options. In related news, Block’s Square point-of-sale unit is bolstering merchant selling tools with new online features. Citcon’s integration of Cash App Pay, …
• 26 September

  Flexpoint Jumps in as a Payment Platform And Other Digital Transactions News briefs from 9/26/23

  

  FlexPoint announced its launch as a payments platform for so-called managed-service providers, or organizations that provide information-technology services to companies. Flexpoint also announced a long-term financing program for clients through GreatAmerica Financial Services. Automaker Mitsubishi Electric said it has enlisted BlackBerry Ltd. to supply in-vehicle data services, including digital payments. Commerce-technology provider Treez launched new payments …
• 25 September

  Shift4 Deepens Its Ties to Charitable Organizations And Widens Payment Options for Donors

  

  The major processor Shift4 Payments Inc. is expanding its presence in the non-profit sector through a partnership with Give Lively, a fintech platform provider for that market. Shift4 said it will begin processing payments for Give Lively in 2024. In addition, Shift4 will expand payment options on Give Lively’s platform …
• 25 September

  Mercedes pay+ Adds Mastercard to Its In-Car Payment Service

  

  Automaker Mercedes-Benz is enabling in-car fuel payments for users of its Mercedes pay+ service. Announced Monday, the service also integrates Mastercard Inc.’s Secure Card on File for Commerce Platform technology. Available initially only on select Mercedes models in Germany, the fuel payment app joins a parking-payment app the giant carmaker …
• 25 September

  Contactless Payments To Surge And Other Digital Transactions News briefs from 9/25/23

  

  The number of digital transactions globally will rise 12% in 2024 to cross the 1-trillion mark, Juniper Research forecasts. Near-field communication (NFC) payments, otherwise known as tap-and-pay, will grow fastest, at 30%, followed by digital ticketing (19%), according to Juniper. The Canada-based commerce platform Shopify will enable payments for India-based e-commerce merchants directly on …
• 24 September

  How ISVs are Adapting to Rapid Market Shifts

  

  By Tom Byrnes, SVP, Marketing, PayiQ The current ISV market is growing exponentially and is expected to show a compound annual growth rate (CAGR) of 14.1% from 2022 – 2030. This growing scope of opportunity has attracted new players into the market. According to recent research by the Retail Solutions …
• 22 September

  Processor NAB Enters the SoftPOS Sweepstakes With Tap to Pay on iPhone

  

  North American Bancard has joined a growing list of processors offering Tap to Pay on iPhone or its Android-based equivalent to merchants for contactless transactions. A big advantage of Tap to Pay on iPhone, especially for small and micro-merchants, is that it enables them to accept in-person contactless payments on …
• 22 September

  Commentary: Today’s Payments Are Broken. Here’s What to Do About It

  

  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 …