Real-time Payments

November, 2023

• 28 November

  Ackroo’s Deal for GiftFly.com Comes As Sales of E-Gift Cards Are Set to Take off

  

  Digital gift cards are a hot product, and that’s attracting the interest of payments players looking to make acquisitions to enter or bulk up their assets in this market. In the latest deal, the Hamilton, Ontario-based point-of-sale payments platform Ackroo Inc. early Tuesday announced it has agreed to acquire the …
• 28 November

  Square Holiday Shopping up 14% And Other Digital Transactions News briefs from 11/28/23

  

  Square and Afterpay merchants counted 70 million transactions over the Black Friday-Cyber Monday holiday weekend, up 14% from the same period in 2022, Square said. In-person shopping increased 15% year-over-year. Amendments under consideration by Australia’s national government would impose on digital wallets like Apple Pay and Google Pay the same regulations as those enacted …
• 21 November

  A Lawsuit Charges Apple Restricts Competition in Peer-to-Peer Payments

  

  A new federal lawsuit against Apple Inc. alleges the iPhone maker restricts competition in peer-to-peer payments by hampering rivalry with its own Apple Cash app. The restrictions, the suit charges, include provisions against what the suit calls “feature competition,” such as cryptocurrency payments, that could moderate pricing for peer-to-peer payment …
• 20 November

  Paysafe Adopts Visa Tokens And Other Digital Transactions News briefs from 11/20/23

  

  Payments provider Paysafe Ltd. announced it will integrate network tokens from Visa to mask credit and debit card account numbers. The Federal Reserve Board announced an average 1.8% increase in pricing for established services such as check clearing and automated clearing house transactions, with pricing for the FedNow real-time network, which launched in July, …
• 15 November

  2024 Juniper Trends Range from Account-to-Account Payments to Value-Added Services Atop FedNow

  

  As 2023 winds down, Juniper Research is out with its top 10 trends for payments and fintechs in 2024. Chief among them is a challenge to cards in e-commerce and funding for wallets through account-to-account payments. Closely related is the prospect for FedNow, the nascent real-time payment service from the …
• 13 November

  In An About Face, Zelle Banks Issue Refunds to Users Victimized By Scams

  

  Banks in Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, have been issuing refunds to consumers duped by fraudsters into sending money using the network, according to a report Monday by Reuters.  The reimbursements, which the banks have reportedly been paying out since June 30, represent a …
• 13 November

  Klarna Creator Customization and other Digital Transactions News briefs from 11/13/23

  

  Payments platform Klarna AB added a service in the U.S. market that enables “creators” to open customized online storefronts. PCI Pal, a provider of compliance technology for the Payment Card Industry data-security standard, said it is working with Zoom Video Communications Inc. to launch its services with Zoom Contact Center and Zoom …
• 10 November

  Alkami in Plaid Tie up And Other Digital Transactions News briefs from 11/10/23

  

  Digital-banking software provider Alkami Technology Inc. said it has enabled access for client banks to open-banking network Plaid via an application programming interface. Lightspeed Commerce Inc., a specialist in payments processing for the hospitality industry, launched “Luminaries,” a planned series of interviews with the leaders of client businesses, starting with the corporate …
• 7 November

  FIS Still Sees Opportunity in Payments in the Wake of Its Approaching Sale of a Big Worldpay Stake

  

  FIS Inc. is selling a majority stake in its massive Worldpay transaction-processing operation, but that doesn’t mean the company is ditching the payments business, its chief executive made plain early Tuesday. “We have not moved totally away from that,” Stephanie Ferris told equity analysts during an early-morning call to review …

October, 2023

• 30 October

  Chase’s JPM Coin: With $1 Billion in Daily Volume, It May Come to Retail Payments

  

  More than four years after it began testing its own blockchain-based stablecoin, JPMorgan Chase & Co. is processing $1 billion in transaction volume per day for JPM Coin, Takis Georgakopoulos, JPMorgan’s global head of payments, told Bloomberg News during an interview. Created in 2019 and launched in 2020, JPM Coin …