Real-time Payments

October, 2023

• 3 October

  Nuvei Works With Solutions By Text for Embedded Bill Pay And Gains a Footprint in China

  

  Solutions by Text is adding embedded bill-payment capabilities to its FinText messaging and payments platform. Consumers will now be able to pay bills through the FinText platform without leaving the platform’s Web site or mobile app, which creates a more convenient payment experience, the company says. Transactions will be processed …
• 3 October

  FedNow Tally at 108, up from 35 And Other Digital Transactions News briefs from 10/3/23

  

  The Federal Reserve said FedNow, its real-time payments service that launched in July with 35 banks and credit unions, now counts 108 participating institutions with 21 others providing liquidity and settlement services and 20 service providers. Kenneth C. Montgomery, the Federal Reserve Bank of Boston first vice president and chief operating officer who spearheaded …
• 2 October

  Exchange Bank Picks Pidgin for Real-Time Payments And Other Digital Transactions News briefs from 10/2/23

  

  Payments-technology platform Pidgin said it has agreed to provide real-time payments capability to retail and commercial account holders at Exchange Bank. AffiniPay LLC, a payments platform for professional-services firms, has sold its accounting-software unit, Soluno, to ActionStep, a provider of practice-management technology. Terms were not disclosed. The U.S.-based blockchain firm Coinbase Inc. announced it …

September, 2023

• 26 September

  Eye on Crypto: A MoneyGram Launch; Wirex Partners With OnRamper; Bitget Lists PayPal’s Stablecoin

  

  MoneyGram International Inc. announced Tuesday it will launch in the first quarter next year a non-custodial digital wallet that will support stablecoins. The wallet’s support of stablecoins—digital currency tied to the value of a national fiat currency, such as the dollar— will enable consumers to move from fiat currency to …
• 22 September

  Commentary: Today’s Payments Are Broken. Here’s What to Do About It

  

  Most bankers know that today’s payments are broken. From keeping pace with evolving customer experiences, to navigating the changing regulatory environment, to overcoming competitive threats from nonbanks, many have become so frustrated they are debating whether to abandon some in-house payments channels entirely. Consumers, too, are becoming frustrated with the …
• 21 September

  How Failed Payments, Slow Payments, and Errors Bedevil Organizations

  

  Consumers have come to expect an electronic payment to happen in seconds with zero or few errors, but for organizations the situation is a little more fraught. At least that’s the feedback from a new report, “The State of Payment Operations 2023,” from Modern Treasury Corp., a payments and financial …
• 21 September

  IPS Advances IPSIPay Funding And Other Digital Transactions News briefs from 9/21/23

  

  Innovative Payment Solutions Inc. announced it has completed the second of three $500,000 capital contributions to IPSIPay Express LLC, a joint venture aimed at processing digital payments in the sports-betting and online-gaming markets. Partnering with IPSI in the venture are OpenPath and eFinityPay. Reports indicate a security breach at T-Mobile exposed sensitive data, …
• 20 September

  Freedom Pay Links With Worldpay And Other Digital Transactions News briefs from 9/20/23

  

  The payments platform FreedomPay said it is expanding its partnership with the processor Worldpay to cover more geographic markets globally. FIS Inc. in July agreed to sell a 55% interest in Worldpay to the private-equity firm GTCR in a deal expected to close in 2024’s first quarter. Buy now, pay later specialist Sezzle Inc. announced an …
• 14 September

  Cross-Border Options Are Among Factors Driving Real-Time Payments Growth, a Study Finds

  

  A growing volume of cross-border transactions is fueling the development of real-time payment services, according to a new report from Bank of New York Mellon Corp. and research firm Datos Insights. The report also says businesses stand to lose if they’re slow to invest in real-time payments. Some 80% of …
• 14 September

  FreedomPay’s Cross-Border Platform And Other Digital Transactions News briefs from 9/14/23

  

  Commerce platform FreedomPay said it will begin offering point-of-sale devices from Pax Technology Inc. in the second quarter next year. Visa Inc. announced it will deploy its real-time payments network, Visa Direct, to allow users of United Kingdom-based money-transmission platform Paysend to route payments to eligible Visa cards in 170 countries and territories. …