Real-time Payments

February, 2024

• 23 February

  Block’s Dorsey: Cash App Is Your New Bank, And Square May Enlist ISOs

  

  Block Inc. posted double-digit increases in net income for its December quarter and for 2023, but its co-founder and chief executive let it be known late Thursday the company has work to do. “Across the board, we’ve been going through an exercise in how we work so we can move …
• 14 February

  FIS’s Pay by Bank Path And Other Digital Transactions News briefs from 2/14/24

  

  FIS Inc. said it is working with Banked, an open-banking provider, to develop new pay by bank services for businesses and consumers. Gateway provider Trice Technologies Inc. said it is a technology provider and real-time payments gateway for the RTP network from The Clearing House Payments Co. LLC. Web services and payments provider GoDaddy …
• 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 …
• 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 …
• 7 February

  Entrust Eyeing Onfido And Other Digital Transactions News briefs from 2/7/24

  

  Minneapolis-based Entrust, a provider of identity technology and data security for payments, said it has entered into exclusive talks to acquire London-based Onfido, a platform for identity-verification based on artificial intelligence technology. Pay-at-table technology specialist Toast Inc. said Choice Hotels International has selected its Toast for Hotel Restaurants portfolio for two Choice chains, Cambria …
• 6 February

  Affinipay’s Tap-to-Pay Play And Other Digital Transactions News briefs from 2/6/24

  

  AffiniPay, a specialist in payments for professional offices, launched a refreshed version of its In-Person-Payments service featuring new payments devices that include tap-to-pay functionality. Fiserv Inc.’s Small Business Index for January remained unchanged from December at 138. Year-over-year sales grew 1.7%, down from December’s 2.6% rate. The Index, introduced in January, measures …
• 5 February

  Speedy Payouts Most Favored Among Bettors And Other Digital Transactions News briefs from 2/5/24

  

  Sports-betting enthusiasts rank rapid payouts and payment choice most highly when choosing a sportsbook, according to a report from Paysafe Ltd., a payments processor for which gaming is a major market. The research canvassed 3,000 bettors in six states, Canada, and the United Kingdom, France, Germany, and Italy in December. Airwallex, …

January, 2024

• 31 January

  As Its U.S. Business Slows, Mastercard Looks to Emerging Markets Like Real Time Payments

  

  Mastercard Inc. is confronting a slowdown in dollar volume in its home market while it pushes into vital new markets like real-time payments and open banking, its presentation of fourth-quarter 2023 financial results indicated early Wednesday. Gross dollar volume of $727 billion in the December quarter represented a 4% rise …
• 24 January

  Mastercard Will Remain the Software Engine Behind the RTP Network

  

  Mastercard Inc. has extended its partnership in a multi-year agreement with The Clearing House Payments Co., which operates the Real Time Payments (RTP) network. The deal continues Mastercard’s role as the network’s instant-payments software provider. The agreement will drive more volume through the RTP network by maintaining the network’s reliability …
• 22 January

  Consumers Are Spending More On Gift Cards As P2P Apps Open As a Channel

  

  Prepaid card spending is on the rise, according to Fiserv Inc.’s annual Prepaid Consumer Insights Study. Some 69% of consumers surveyed say they purchased the same number of gift cards, or more, in 2023 compared to 2022. In addition, 40% of  buyers are putting at least $50 on gift cards, …