Real-time Payments

July, 2023

• 20 July

  It’s Official: FedNow Launches With 35 Banks And Credit Unions Signed up For Instant Pay

  

  The Federal Reserve’s instant-payment service, FedNow, is officially live with 35 banks and credit unions participating, the nation’s banking regulator announced early Thursday. The launch, which culminates four years of work since the Fed first announced its intention to build a real-time payments rail, comes as the payments industry moves …
• 19 July

  FedNow’s Launch Is ‘Imminent’ As Observers Prepare for a New Age in Faster Payments

  

  The Federal Reserve could launch its FedNow real-time payments service as early as tomorrow, sources tell Digital Transactions News. The network, which has been under development for nearly four years, represents the regulator’s first effort to create a nationwide network for instant payments, a service that other countries, and at …
• 19 July

  Feedzai Launches Railgun, an AI-Based Fraud-Detection Engine

  

  Risk-management technology provider Feedzai has harnessed artificial intelligence with the introduction of Railgun, its latest fraud-detection engine. What differentiates Railgun, according to Feedzai, is that it taps real-time data such as customer behavior patterns and the use of specific cards across merchant networks over longer periods of time. As a …
• 19 July

  Keyo’s Hand Scanner Debuts And Other Digital Transactions News briefs from 7/19/23

  

  Keyo, a provider of digital-identity technology, released its Keyo Wave+ hand scanner for payments, access control, ticketing, and other uses. Visa Inc. has renewed an agreement to be the exclusive payment-services provider for the U.S. Women’s and Men’s National Soccer Teams. Buy now, pay later provider Afterpay Ltd. said it has added “thousands” of new …
• 13 July

  A Regional Fed Official Sees FedNow Consolidating Networks And Adding P2P

  

  With the Federal Reserve’s rollout of the FedNow real-time payments service expected by the end of the month, a regional Federal Reserve Bank official on Wednesday outlined a roadmap for the new network that includes network interoperability, the possible addition of peer-to-peer payments, and, overall, the prospect of fewer payment …
• 11 July

   Adyen Adds Tap to Pay on Android And Other Digital Transactions News briefs from 7/11/23

  

  Point-of-sale technology provider Adyen NV has added Tap to Pay on Android, which allows merchants to accept contactless card payments directly on a mobile device with no additional hardware. Adyen is adding the technology initially in the United States and Singapore. Checkout.com launched Identity Verification, a tool based on artificial intelligence that allows …
• 10 July

  With FedNow’s Launch Just Around The Corner, Pidgin Publishes Real-Time Payments Primer

  

  Real-time payments platform provider Pidgin Inc. has published an eBook detailing key steps financial institutions should be taking to prepare for real time payments. The eBook, published just ahead of the debut of Federal Reserve’s FedNow real-time payments network this month, details how financial institutions can use real-time payments to …

June, 2023

• 30 June

  With a Few Weeks Til Launch, FedNow Lists 57 Participants

  

  FedNow, the nation’s second real-time payments network set to debut in late July, says 41 financial institutions, 15 service providers, and the U.S. Department of the Treasury will be ready to send and receive transactions. All 57 have completed certification and testing for FedNow. The Federal Reserve said in 2019 …
• 29 June

  On the Eve of FedNow, TCH’s RTP Readies for a Real-Time Payments Boom

  

  As the payments industry waits a few more weeks for the expected July launch of the Federal Reserve’s FedNow real-time payments platform, the backer of a real-time payments service that is entering its sixth year readies for more business. Operated by The Clearing House Payments Co. LLC, the Real Time …
• 29 June

  Mastercard’s Subscription Plans And Other Digital Transactions News briefs from 6/29/23

  

  Mastercard Inc., working with Subaio, which offers a subscription management service for banks, launched a subscription control service to make it easier for consumers to identify and unsubscribe from recurring payments via banks’ apps and online access. The move comes after the Federal Trade Commission proposed a rule that would require sellers …