Digital Transactions Authoritative, insightful and timely information for payments professionals
Of the now 900 financial institutions on the FedNow real-time payments network, 78% of them are community banks and credit unions, the Federal Reserve says. The 900 figure, found in updated data released on the FedNow Web site, comes as the instant payment service marks its first year of service. …
July, 2024
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23 July
Sound Payments Makes Equinox Integration and other Digital Transactions News briefs from 7/23/24
Point-of-sale and payments software provider Sound Payments said it completed an integration with two Equinox Payments POS terminals in Sound’s Quantum Cloud platform. Blaze Solutions Inc., a provider of technology for cannabis sellers, has released new point-of-sale technology for that market, featuring a Web-based POS system and upgraded user interface. A startup …
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19 July
A Year on, FedNow Makes Gains Amid Rising Use And Awareness of Faster Payments
July 20 marks the one-year anniversary of the debut of FedNow, the Federal Reserve’s real-time payment service. It also marks the anniversary of the payments industry letting its breath out in anticipation of the launch. Since then, both FedNow and its fellow faster payments providers have all benefited from the …
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15 July
Wirex’s Crypto Tie-in to Cards and other Digital Transactions News briefs from 7/15/24
The U.K.-based payments platform Wirex said it will work with Visa Inc. to integrate digital currencies with Visa cards in the U.K. and European Economic Area. As part of the collaboration, Wirex said it is launching Wirex Pay, a service aimed at easing use of both traditional money and cryptocurrency. Payment gateway Freedom …
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10 July
A Panoply of Factors Help Drive Record Volume for the Big Banks’ Real Time Payments Network
The Clearing House Payments Co. LLC reported early Wednesday its 7-year-old RTP service on June 28 exceeded $1 billion in daily volume for the first time. TCH waited a week and a half to disclose the milestone as it worked out what the factors were behind the record-setting performance, only …
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9 July
Cross River Pairs With MassPay to Bring Real Time Payments to a Broader Market
Barely more than a year after the Federal Reserve launched its FedNow platform, banks and service providers are finding ways to bring real-time payment capability to niche businesses. The latest example emerged early Tuesday with an announcement that Cross River Bank, a technology-oriented financial institution, is working with payments platform …
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3 July
Coinbase Wins a Federal Contract to Store Digital Assets
Cryptocurrency exchange and management provider Coinbase Inc. has won a $35.5-million contract to safeguard and trade digital assets on behalf of the U.S. Marshals Service. The Service, a unit of the U.S. Department of Justice, is responsible for asset forfeitures arising from federal legal cases, including cases that involve recovery …
June, 2024
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25 June
Nuvei Readies UAE Expansion and other Digital Transactions News briefs from 6/25/24
The Canada-based processor Nuvei Corp. said it has received approval for a retail-services license from the central bank of the United Arab Emirates, laying the groundwork for an expansion into the UAE market. Fast-food chain Long John Silver’s said it is working with multiple technology vendors to update its digital and in-store ordering experience …
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12 June
Dash’s Visa Real-Time Deal and other Digital Transactions News briefs from 6/12/24
Payments platform Dash Solutions has expanded an agreement with Visa Inc. to include a capability for Dash users to send real-time payments to cards, bank accounts, and mobile wallets using Visa Direct, Visa’s faster-payments platform. The payments fintech Bread Financial said its Comenity Capital Bank will issue Saks Fifth Avenue’s World Elite Mastercard and …
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10 June
Maverick’s Visa Integration and other Digital Transactions News briefs from 6/10/24
Maverick Payments said it is working with Visa Inc. to offer direct acquiring capability on the Visa Acceptance Platform. The new connection, expected to go live in the third quarter, will let Maverick resellers and merchants gain access to a direct link to VisaNet. Google Inc. has discontinued GPay, or Google Pay, …