News

February, 2023

• 21 February

  As FedNow Prepares for Launch, Bankers’ Banks Enlist Help for Real-Time Payments

  

  With the launch of the Federal Reserve’s FedNow real-time payment service expected by mid-year, payments players are lining up clients to take advantage of the service. The latest is Pidgin Inc., a startup payments platform specializing in supporting financial institutions. The Atlanta-based company early Tuesday announced that Community Bankers’ Bank …
• 21 February

  PayJunction Readies A2A Integration And Other Digital Transactions News briefs from 2/21/23

  

  Payments provider PayJunction released an updated version of its developer toolset to enable software companies to integrate account-to-account bank transfer connectivity within their platforms. Equipifi, a white-label buy now, pay later provider, said customers of credit union ACU of Texas can now use BNPL as a payment method with their existing debit …
• 20 February

  Serving 10,000 Vet Clinics, Vetsource Launches a Processing Capability

  

  Vetsource, a provider of technology, pharmacy, and business services to veterinary practices, has added payment processing capabilities to its platform. In addition to supporting credit and debit cards, e-wallets, and online and automated clearing house payment-processing options, Vetsource says its new service will enable veterinary practices to offer payment methods …
• 20 February

  Is FTX in the Rear-View Mirror? Bitcoin Rebounds Sharply As Headwinds Persist

  

  The leading digital currency Bitcoin hasn’t returned to the values it enjoyed early last year, but it appears to have rebounded from the beating it—and the cryptocurrency industry as a whole—took in the wake of the sudden collapse in November of the major trading platform FTX.com and the bankruptcy in …
• 20 February

  Bitcoin Bill Pay Enabled And Other Digital Transactions News briefs from 2/20/23

  

  The cryptocurrency exchange Bitcoin of America announced users can pay their utility bills at kiosks operated by the company in Illinois and Texas by converting their virtual currency holdings into dollars at the machines. Samsung Electronics Canada launched a new version of its Samsung Galaxy S23 Series of mobile phones in that country, with …
• 17 February

  Card Skimming Grew Dramatically Last Year And Shows No Signs of Slowing Down

  

  Instances of card skimming were up in the United States in 2022, with more than 161,000 impacted cards identified, a five-fold increase over 2021, and a more than three-fold increase in the total number of cards compromised, according to FICO (formerly Fair Isaac Co.). In addition, 3,000 unique financial institutions …
• 17 February

  Zelle Sees Promising Growth in Small Business Payments As It Confronts Senators’ Scam Probe

  

  Early Warning Services LLC, operator of the Zelle peer-to-peer payments network, is celebrating a year just passed in which both dollar volume and transactions processed rose at double-digit rates. But the company also has its eye on promising markets like small businesses and on countering charges from U.S. Senators about …
• 17 February

  Entrust Group Enlists Stripe for Card and ACH Payments And Other Digital Transactions News briefs from 2/17/23

  

  Entrust Group, an IRA administrator, said it is working with Stripe Inc. to ease credit card and automated clearing house payments for client contributions. Block Inc.’s Cash App will support a cash-giveaway promotion for Moe’s Southwest Grill on Feb. 24, with the total payout expected to be $25,000. U.S. Bank launched its Business …
• 16 February

  Zelle Posts Strong Increases in Volume And Financial Institution Membership

  

  Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, reported Thursday that consumers and businesses sent 2.3 billion in payments totaling $629 billion through the network in 2022. On a year-over-year basis, transaction volumes through Zelle increased 26%, and total transaction value increased 28%. Small businesses continue to be …
• 16 February

  Observers Split on Banking Groups’ Effort to Get the Fed to Extend Time for Debit Compliance

  

  Industry opinions are mixed regarding a move by banking trade groups to plead for more time to act on a ruling issued in October by the Federal Reserve. The ruling orders all banks to comply by July 1 with an 11-year-old requirement that merchants have a choice of at least …