Real-time Payments

April, 2023

• 13 April

  Eye On Real-Time Payments: Go-Live-Faster Enables a 90-day Integration; SouthState Bank Joins FedNow

  

  With real-time payments quickly becoming a reality for the U.S. payments market, smaller financial institutions are scrambling to adopt the necessary technology. That in turn is creating opportunities for a wide range of technology companies. The fintech Go-Live Faster says it will launch what it bills as a solution that …
• 13 April

  As P2P Transfers Rise Via Apps, Visa Responds With an Interoperability Play

  

  The payments industry continues to reckon with the myriad ways the pandemic has permanently reshaped how people pay businesses and other people. One key example is how individuals are paying each other compared to just a couple of years ago, and how payment networks are responding. In just the two …
• 13 April

  Data Breaches Drop 13% And Other Digital Transactions News briefs from 4/13/23

  

  The number of reported data compromises totaled 445 in the first quarter, a 13% decrease from the previous quarter, according to the latest report from the Identity Theft Resource Center. The number of victims decreased 64% in the same period. Health care breaches, at 81, led the quarter followed by financial services …
• 12 April

  How Fiserv Clients Are Gearing up to Pilot FedNow

  

  Fiserv Inc. announced Wednesday that Salem Five, a Salem, Mass.-based mutual savings bank, is piloting FedNow, the Federal Reserve System’s real-time payments network, which is expected to launch in July. In addition to Salem Five, nearly 20 financial institutions, including Peoples Bank and Mediaoplis, Iowa-based Mediapolis Savings Bank, have signed …

March, 2023

• 31 March

  As FedNow’s July Debut Nears, the Roadshow Begins

  

  FedNow, the impending real-time payment service from the Federal Reserve, was formally introduced to the merchant-acquiring industry Thursday at the annual Northeast Acquirers Association conference. Expected to launch in July, FedNow will enable participating banks to offer instant payments with a default limit of $100,000 per transaction and stretch to …
• 30 March

  U.S. Bank Teams Up With Tech Provider Kyriba To Bolster Real-Time Payments

  

  The nascent U.S. real-time payments market took another step forward Wednesday when U.S. Bank and Kyriba Corp., a provider of financial technology for multinational corporations and banks, announced they are working together to enable instant payments for businesses. Under their new pact, joint clients of U.S. Bank and Kyriba will …
• 30 March

  Cheq’s Stadium POS Play And Other Digital Transactions News briefs from 3/30/23

  

  In-stadium payments provider Cheq Inc. said visitors to the Miami Marlins’ home field, loanDepot park, now can use its services for mobile, kiosk, traditional point-of-sale, and handheld payment options in parts of the park. Cheq began offering mobile payment services at the venue in 2021.8 P97 Networks, a provider of mobile-payments technology for gas …
• 29 March

  U.S. Real-Time Payments Will Climb Fast But Will Still Account for a Small Fraction of Activity

  

  The Federal Reserve’s planned launch in July of its FedNow service is widely expected to spur big growth in real-time payments in the U.S. market. That’s likely to happen, but the overall share of transaction volume for instant payments is expected to remain under 5% for at least the next …
• 27 March

  An Energized Coinbase Prepares to Do Battle With the SEC

  

  Cryptocurrency marketplace and services provider Coinbase Global Inc. says it’s ready to fight the Securities and Exchange Commission if the commission takes an enforcement action against it. But the SEC’s possible action comes as no surprise to some observers of the crypto market. The SEC last week issued a so-called …
• 27 March

  First Citizens Buys SVB And Other Digital Transactions News briefs from 3/27/23

  

  First Citizens Bank & Trust Co. reached an agreement with the Federal Deposit Insurance Corp. to buy Silicon Valley Bridge Bank after a competitive bidding process. Terms include FCB’s assumption of $110 billion in assets, $56 billion in deposits, and $72 billion in loans. Starting Monday, the 17 SVB branches will operate as …