Tuesday , February 27, 2024

News

February, 2024

  • 13 February

    Radial Adds Link Money’s Pay by Bank for Account-to-Account Payments

    E-commerce platform Radial Inc. is giving its merchants a new payment option that bypasses traditional credit and debit card payments and instead relies on account-to-account transfers. Dubbed Pay by Bank, the service was developed by Link Financial Technologies Inc., which does business as Link Money, an open-banking platform. King of …

  • 13 February

    BofA Zelle Users at 21.5 Million And Other Digital Transactions News briefs from 2/13/24

    Bank of America reported an all-time high 21.5 million customers now use the peer-to-peer payments network Zelle. BofA customers last year sent and received 1.24 billion Zelle payments totaling $373 billion, both also record highs. In the fourth quarter, Zelle send transactions were double the number of checks written, the bank …

  • 12 February

    Visa Adds Virtual Card Capabilities for Commercial Card Users

    Just as Visa Inc. is expanding its Commercial Pay service to the Latin American and Caribbean region, it is making virtual card issuance for its commercial card clients a reality. Visa says Commercial Pay clients, which have access to a host of B2B payment services, now can add virtual corporate …

  • 12 February

    At a Double-Digit Growth Rate, BNPL Isn’t Cooling off

    The buy now, pay later trend emerged in the U.S. market in a big way in 2020 in the wake of the pandemic as a means to let strapped consumers make point-of-sale and online transactions with partial payments, while financing the balance over a short term. Since then, the U.S. …

  • 12 February

    Picklejar’s Contest Tools And Other Digital Transactions News briefs from 2/12/24

    Picklejar Entertainment Group, whose software manages payments and other functions for events, launched contest-management capability incorporating the company’s identity-verification technology. Finmont, a travel-related payments-orchestration platform, has agreed to add processing from payments platform ConnexPay. William P. Foley II has been appointed chief executive of Cannae Holdings Inc., whose investments include a 6% …

  • 9 February

    COMMENTARY: Charting a Course Toward Transparent and Secure Digital Payments

    Decentralized finance (DeFi) is revolutionizing the way consumers and businesses handle their financial affairs, offering an innovative alternative to traditional, centralized financial systems. This transformation is creating a dynamic financial landscape where both traditional finance methods and DeFi coexist, encouraging real-time, transparent, and secure digital payment solutions. This evolution presents …

  • 9 February

    How J.P. Morgan’s Ambitious Commerce Platform Enables Cross-Channel Payment Acceptance

    J.P. Morgan Payments sees the future of electronic commerce as one pipeline accessed by consumers across channels. Its role in that scenario is outlined by the debut earlier this year of what it calls a full-stack omnichannel service, one that offers in-store, online, and mobile checkout capabilities. “We realized merchants …

  • 9 February

    Cantaloupe Revenue up 7% and other Digital Transactions News briefs from 2/9/24

    Cantaloupe Inc., a payments processor for vending machines and unattended markets, reported 1.23 million active devices online at the end of its December quarter, up 7% year-over-year. Active clients totaled 30,027, a 14% rise. Revenue for the quarter came to $65.4 million, up 7%, while transaction volume grew 12% to …

  • 8 February

    PayPal’s New CEO Begins Acting on His Promise to Shake up the Payments Giant

    When Alex Chriss came from Intuit last fall to take over as chief executive of PayPal Holdings Inc., he made it plain there would be big changes in strategy coming soon. On Wednesday, he began delivering on that promise, asserting the payments company is going to promote so-called branded checkout …

  • 8 February

    ABA Formalizes BIN Administration Handoff to Long-Term Partner CUSIP

    CUSIP Global Services announced late Wednesday that it will be taking over day-to-day operations of the administration of the issuer identification number system from the American Bankers Association. The change is not monumental as CUSIP has a long history of managing numbering programs for the financial services industry. The ABA …

Digital Transactions