Friday , March 29, 2024

Real-time Payments

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, …

  • 18 January

    UnionPay Touts Global Acceptance And Other Digital Transactions News briefs from 1/18/24

    UnionPay, an international payment card network based in China, said it is now accepted in 183 countries and regions, with issuance outside the Chinese mainland exceeding 230 million cards in 81 countries. Issuance outside Mainland China commenced in January 2004. Consumer-finance and card issuer Synchrony said it is testing a browser extension …

  • 17 January

    Launched in July, FedNow Hits the 400 Mark in Number of Participating Financial Institutions

    FedNow, the real-time payments network operated by the Federal Reserve, announced late Tuesday it has 400 financial institutions participating as senders or receivers after six months of operation. The much-anticipated Fed service launched last July with 35 participating financial institutions. Participating institutions range in size from less than $500 million …

  • 17 January

    Visa Closes Pismo Deal And Other Digital Transactions News briefs from 1/17/24

    Visa Inc. said it has closed on its acquisition of Pismo, a card-issuing and banking platform operating in Latin America, Asia-Pacific, and Europe. The announcement follows Visa’s agreement in June to acquire Pismo for $1 billion in cash. Payments-technology company Brightwell said it will implement Visa Direct to enable payouts to eligible bank accounts and …

  • 12 January

    Despite Musk’s Bravado, X Faces an Uphill Battle in Launching Its P2P Network

    Despite its formidable reach, the social-media platform X faces a steep climb to achieve its goal of launching a peer-to-peer payments service, according to payments experts. X, formerly known as Twitter, announced in a blog post earlier this week its plans to add P2P payments to its platform this year …

  • 10 January

    BitPay Looks to Add More Than 100 New Digital Currencies to Its Payments Platform

    BitPay Inc. said Tuesday it will start adding dozens of cryptocurrencies to its platform this week in a move that includes a revamp of the company’s payments service. The Atlanta-based company, which has been processing crypto-based payments for more than 10 years, said it will start supporting more than 100 …

  • 9 January

    GoCardless Picks Up JustGiving And Other Digital Transactions News briefs from 1-9-24

    GoCardless said it will process open-banking payments made on JustGiving, an online donation platform, replacing American Express Co. FirstOntario Credit Union said it is preparing to launch open banking through connections to Everlink Payment Services Inc. and open-banking technology platform Flinks. The federal government in Canada said in November it planned to …

  • 8 January

    It Turns Out 2023 Was a Banner Year for Bitcoin Acceptance—Which Remains Spotty

    Bitcoin has struggled for years to win breakthrough adoption among sellers large and small, even though some major, e-commerce companies like Overstock-com, Newegg.com, and Microsoft Inc. have accepted the digital currency for at least a decade. But Bitcoin’ spotty acceptance may be masking some important advances among smaller and lesser-known …

Digital Transactions