Person-to-Person Payments

Five years after its launch, the Zelle person-to-person payments service continues to boost payment volumes for one of its founders, Bank of America Corp. BofA reported Monday that its second-quarter P2P Zelle transaction volume hit 239 million, up 26% from 189 million payments a year earlier. The value of the …

The total volume of tokenized payment transactions worldwide will exceed 1 trillion by 2026, up from 680 billion this year, according to a report released Monday by Juniper Research. The growth will come mostly from click-to-pay options that allow buyers to pay with a single click, using tokenized credentials, the …

In recent times, we have witnessed an explosion in the neobanking sector, with emerging digital-only providers benefiting from rapid digitization. Now, as this sector begins to mature, companies must find a way to retain customers that may want to transition back to traditional banking companies. To do so, businesses in …

Consumers’ loss of funds to fraud and other deceptive activity on peer-to-peer payment networks has drawn the attention of U.S. Senators, who are demanding answers on the matter from the big banks that own the Zelle P2P network. The senators’ actions come as P2P activity has boomed in response to …

Payments provider Sionic announced a service that allows consumers to pay merchants at the point of sale via real-time transfers from the consumer’s bank account to the merchant’s bank account. The service includes incentives merchants can use to induce consumers to use the service in preference to rewards credit cards.XTM Inc. announced it …

Fiserv Inc. said more than 300 sports and entertainment venues are now using Clover Sport to provide payment and marketing services to fans. Clover Sport is based on Fiserv’s Clover point-of-sale technology.MoneyGram International Inc. launched a service that supports money transfers via the Stellar Network’s public blockchain and USD Coin, a stablecoin from Circle Internet …

Mastercard Inc. said it is working with seven companies to enable its branded payment cards to be used for making non-fungible token purchases. NFTs are digital goods.Sardine, a provider of anti-fraud and compliance technology to fintechs, said it will work with cryptocurrency-technology provider Zero Hash to enable instant settlement on the …

Luma Health Inc. debuted LumaPay, which allows patients to pay medical bills via text messages.U.S.-based payments provider FreedomPay said it is working with Network International to provide digital-payment capability to the hospitality industry in the Middle East and Africa region.Canada-based Kapsch TrafficCom announced it has now manufactured 100 million toll-payment transponders, which are used in …

Digital alternatives to the long-time money-transfer services from The Western Union Co. and MoneyGram International Inc. are developing fast, a fact underscored by an announcement Tuesday by Paysend Group that its user count in the U.S. market now stands at more than half a million, up by two-thirds over the …

Mastercard Inc. launched Cyber Front, a platform aimed at helping businesses and governments combat online intrusions through the simulation and assessment of cyber attacks.MoneyGram International Inc. said its shareholders have approved a previously announced, $1.8-billion acquisition by private-equity firm Madison Dearborn Partners LLC. The merger is expected to close in the fourth …