Real-time Payments

March, 2022

• 9 March

  Consumer Spending up 8.7% in February and other Digital Transactions News briefs from 3/9/22

  

  Consumer spending in the United States, in terms of February retail sales excluding auto, was up 8.7% over February 2021 and 17.3% over February 2019, according to Mastercard Inc.’s SpendingPulse report, which monitors in-store and online retail sales.President Joe Biden signed an executive order requiring federal agencies to work out a common …
• 2 March

  Volante Unites Real-Time Payments Services and other Digital Transactions News briefs from 3/2/22

  

  Volante Technologies Inc., a cloud payments and financial messaging provider, said it will offer U.S. financial institutions a unified real-time payments service that offers access to The Clearing House’s RTP network and the upcoming FedNow service, which is expected to launch in 2023. Volante has been in the FedNow pilot program since 2021.Facepay …

February, 2022

• 3 February

  Faster Payments And B2B Propel a Big Year for the ACH As Dollar Volume Tops $72 Trillion

  The pandemic has “fast-tracked” adoption of the automated clearing house network for business-to-business payments, while transactions cleared and settled through the network on the same day they’re initiated are booming, according to full-year 2021 numbers released Thursday by Nacha, the governing body for the nationwide network. The annual results complement …

January, 2022

• 31 January

  85% Cite Real-Time Payments as Critical and other Digital Transactions News briefs from 1/31/22

  

  A survey of 260 corporate executives found that 85% said the availability of real-time payments is the most important factor when choosing a bank partner, said Citizens Financial Group Inc.Mozper, a contactless card intended to help educate children on responsible payments, launched in Brazil on the Visa Inc. network.A mobile-commerce startup …
• 28 January

  The Fed Releases Some FedNow Fees and other Digital Transactions News briefs from 1/28/22

  

  The Federal Reserve’s FedNow real-time payments platform will charge a monthly $25 participation fee for each receiving routing transit number, 4.5 cents per credit transfer to be paid by sender, and a penny for a request for payment message, paid by requestor. The Fed expects to release a full fee schedule later this …

December, 2021

• 27 December

  E-Commerce Sales up 11% and other Digital Transactions News briefs from 12/27/21

  

  E-commerce sales increased 11% in the Nov. 1 to Dec. 24 period compared to the same time last year, and were up 61.4% from the same time in 2019, according to the latest Mastercard SpendingPulse report.Fintech Aizen Global Co. Ltd. said it is working with BNY Mellon to develop banking-as-a-service for banks and …
• 23 December

  Colony Bankcorp Launches Merchant-Acquiring Division and other Digital Transactions News briefs from 12/23/21

  

  Colony Bankcorp Inc. announced it has launched a merchant-acquiring division led by Steve Raines as director for merchant services. Raines most recently was director at Synovus Merchant Services.Laurentian Bank of Canada said it will work with the card-issuing platform Brim Financial to issue Visa products in 2022, with features including instant virtual …

November, 2021

• 23 November

  Jack Henry Takes the Early Lead on The Clearing House’s RTP Network

  

  As real-time payments cements itself as a payments fixture, bank processors are enthusiastically signing new clients to provide the speedy payment service. Financial-institution processor Jack Henry & Associates Inc., in particular, has been enrolling merchants at a rapid pace in The Clearing House Payment Co. LLC’s Real Time Payments network. …
• 22 November

  ParkMobile Expands Google Pay and Maps Integrations and other Digital Transactions News briefs from 11/22/21

  

  Parking-payments app provider ParkMobile LLC announced it has added more than 100 new markets, including cities and universities, through its integration with Google Maps and Google Pay. The two companies announced the integration a year ago.KeyBank National Association said it has acquired XUP Payments, a digital payments platform focused on business-to-business transactions. Terms …
• 19 November

  Nium Teams Up With Roxe to Enable Real-Time Cross-Border Payments

  

  As part of its efforts to expand real-time payments globally, financial-service technology provider Nium Pte. Ltd., has partnered with Roxe, a global payment network that uses blockchain technology to settle transactions. The partnership will allow Roxe to leverage the reach of Nium’s network to initiate cross-border payouts, including those from …