Real-time Payments

July, 2024

• 29 July

  Real Time for Wallets and other Digital Transactions News briefs from 7/29/24

  

  AppBrilliance said it is extending real-time payments to funding of closed-loop digital wallets via a recent rule change by The Clearing House Payments Co. The move will allow providers such as Starbucks, Dunkin’, and Chick-fil-A to use real-time rails for their proprietary wallets, the company says. ZeroTier, which provides connectivity between …
• 24 July

  Fiserv Racks up Growth Via Strength in Merchant Services

  

  Fiserv Inc.’s top brass early Wednesday celebrated a second quarter in which adjusted revenue jumped 7% and adjusted earnings per share grew 18%, but it was new programs and alliances—including one with Apple Inc.—that took center stage as the company presented its second-quarter results. Cash Flow Central, a banking alliance …
• 23 July

  Digital Payments Have Plenty of Room for U.S. Growth, a Marqeta Report Says

  

  Demand for digital-payment and embedded-finance technology is growing in the United States, especially among Gen Z and Millennials, says a report from payments platform Marqeta Inc. The demand is being driven largely by the lower adoption of contactless payments and mobile-banking apps in the U.S. compared to the United Kingdom …
• 23 July

  FedNow Financial Institutions Now Total More Than 900

  

  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. …
• 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 …
• 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 …
• 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 …
• 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 …
• 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 …
• 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 …