Real-time Payments

October, 2022

• 31 October

  COMMENTARY: How Payment Orchestration Can Make Sales POP for Online Sellers

  

  With nearly 1 out of 5 shoppers abandoning their carts due to a long or complicated checkout process, today’s merchants are challenged to close retail sales. Combine this with the fact that many merchants have not updated their payment systems in two years, and the result is an inability to …
• 27 October

  Mastercard Will Compete for Debit And Build out New Payment Flows, Its Top Brass Says

  

  Mastercard Inc.’s top executives early Thursday underscored a strategy for the company involving a diversity of payment flows and new network opportunities such as open banking and cryptocurrency. At the same time, the company’s leadership made plain the company will compete for debit volume in the wake of a Federal …
• 25 October

  Visa’s Top Executives See Little Impact from the Fed’s Ruling on Debit Transaction Choice

  

  It was only a matter of time before the two big international card networks responded to a recent Federal Reserve requirement that issuers make at least two unrelated networks available to merchants for debit card transactions. Late Tuesday, Visa Inc.’s chief financial officer, Vasant Prabhu, said the impact of the …
• 25 October

  Same-Day Payments Continue to Pay off in Volume Gains for the ACH Network

  

  While the payments business moves toward real-time transfers, faster payments on the nation’s automated clearing house network continue their dramatic rise following a 10-fold increase in the transaction dollar limit earlier this year. Transactions cleared the same day they’re initiated totaled 176.6 million in the quarter ended Sept. 30, up …
• 25 October

  Jack Henry’s New P2P Payments Platform And Other Digital Transactions News briefs from 10/25/22

  

  Financial-services technology provider Jack Henry & Associates Inc. launched a real-time peer-to-peer payments platform, based on the Digital Payments Platform from the payments-technology firm Payrailz. Jack Henry acquired Payrailz in September for undisclosed terms.Gr4vy, a U.S.-based payments-technology provider, said Australia’s Woolworths Group will use the company’s payments-orchestration platform to run the retailer’s Wpay service. …
• 24 October

  Fintechs Now See Open Banking Technology As on the Edge of Mass Relevance

  

  Open banking is getting closer to mass relevance for financial-technology companies. A study released Monday by Discover Global Network and 451 Research found that fully 78% of fintechs said open banking is relevant to their business. One likely factor behind that trend is the positive consumer sentiment that fintechs are …
• 24 October

  BNY Mellon Launches Vaia, a Multi-Faceted Platform That Includes Real-Time Payments

  

  BNY Mellon announced early Monday it has launched a payments platform called Vaia, which allows clients to offer real-time payments, same-day automated clearing house transfers, tokenized payments, debit cards, and payments through the Zelle peer-to-peer payments network. The nation’s 10th-largest bank by assets said the panoply of payments capabilities can …
• 14 October

  In the Wake of a Senate Probe of Zelle Fraud, the Network’s Parent Issues a Pointed Defense

  

  The controversy regarding fraud and scams on the Zelle peer-to-peer payment network reached a new level on Thursday with a short statement from Early Warning Services LLC, the bank-owned company that operates Zelle, referring to “misleading reports of fraud and scams” on the network and “incomplete” external analysis from outside …
• 13 October

  For Real Time Payouts, Remitly Adds Visa Direct in Canada

  

  Remitly Global Inc. Thursday announced it is making Visa Direct, Visa Inc.’s real-time push-payments platform, available to its customers in Canada. The deal expands Remitly’s online remittance service in Canada by providing Visa Direct as a payout option, the company says. With Visa Direct, Remitly customers in Canada can now …
• 12 October

  IPwe and Advasa Team Up To Expand Earned Wage Access

  

  IPwe Inc., a provider of predictive analytics and blockchain technology, is partnering with Advasa Co. Ltd., a provider of earned wage access solutions. The deal will enable Advasa’s to expand its earned wage access business globally. Earned wage access provides employees the ability to access a portion of their already …