Real-time Payments

June, 2023

• 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 …
• 26 June

  $362 Billion in Online Fraud Loss And Other Digital Transactions News briefs from 6/26/23

  

  Merchant losses from online payment fraud globally will total more than $362 billion in the years from 2023 to 2028, according to a forecast from Juniper Research. So-called swipe fees on credit card transactions will increase Fourth of July costs for U.S. consumers by more than $500 million, according to the Merchants Payments …
• 21 June

  Payments Apps Are Sparking More Complaints From Military Personnel, the CFPB Says

  

  Members of the U.S. military are reporting problems with digital payments apps more frequently than the general population, and peer-to-peer payment apps account for more of those complaints than any other type of payments technology, according to data released Tuesday by the Consumer Financial Protection Bureau. The CFPB reported receiving, …
• 21 June

  Tyfone Readies for FedNow And Other Digital Transactions News briefs from 6/21/23

  

  Digital-banking platform Tyfone Inc. said it will work with One Credit Union to offer a real-time payment service certified for FedNow, the national real-time payments system that the Federal Reserve is expected to launch next month. Jane Technologies Inc. introduced a point-of-sale system customized for cannabis stores. Smart Pay has launched its Smart Pay …
• 20 June

  Jack Henry Launches Fraud Detection in Real Time for a Range of Payments

  

  Jack Henry & Associates has launched PayrailzFraud Monitor, a real-time fraud-monitoring technology for payments. The cloud-native solution, which Jack Henry describes as an enhancement to its Payrailz platform, uses artificial intelligence, machine learning, and behavioral analytics to detect payments fraud as the fraud is occurring, with a scope including peer-to-peer and …
• 20 June

  KKR in PayPal BNPL Buy up And Other Digital Transactions News briefs from 6/20/23

  

  The global investment firm KKR has agreed to purchase up to 40 billion euros ($43.7 billion) in loan receivables generated by PayPal Holdings Inc. in its buy now, pay later programs in France, Germany, Italy, Spain, and the United Kingdom. The transaction is said to include “substantially” all of the European BNPL loan portfolio …
• 19 June

  Following the U.S., ACI Launches Real Time Payments in Europe And the U.K.

  

  ACI Worldwide Inc. has launched its Instant Pay real-time payment solution in Europe and the United Kingdom. The move comes against the backdrop of a regulatory push in Europe mandating that financial institutions across the Single Euro Payments Area (SEPA) countries in Europe offer instant payments under the SEPA Instant …
• 16 June

  These Methods Boost Conversion Rates And Other Digital Transactions News briefs from 6/16/23

  

  Online merchants that offer so-called accelerated payment methods such as Meta Pay, Amazon Pay, PayPal, Shop Pay, Apple Pay, and Google Pay potentially raise conversion rates by up to 50%. That’s according to “Leading Online Shoppers to the Finish Line,” a study of more than 220,000 e-commerce sites by Shopify …
• 14 June

  The CFPB Looks to Define ‘Larger Companies’ for Rulemaking in Payments

  

  The Consumer Financial Protection Bureau is looking at creating a rule to define so-called larger companies in the consumer-payments industry, according to a notice the regulator posted on Tuesday. The rule if established would clarify the CFPB’s supervisory authority with respect to nonbank payments companies, lending more impetus to a …
• 14 June

  Volt’s Gateway on Shopify And Other Digital Transactions News briefs from 6/14/23

  

  The Canada-based commerce platform Shopify announced it has added the payments gateway Volt, allowing Shopify merchants in Europe, the United Kingdom, and Brazil to process real-time account-to-account payments. In related news, payments platform Netevia announced updates to its banking-services features, including free account-to-account transfers. The free period extends until the end of the year. …