Digital Transactions Authoritative, insightful and timely information for payments professionals
The Clearing House Payments Co. LLC announced it will soon introduce tokenization for checking account and routing numbers on transactions financial institutions run over TCH’s RTP real-time payments and EPN automated clearing house networks.Of 80 mid-tier U.S. financial institutions surveyed by Volante Technologies, 37% of these not already connected to The Clearing …
May, 2022
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2 May
The Federal Reserve Begins Piloting Its FedNow Real Time Payments Service
In preparation for the launch of its FedNow instant payments program in 2023, the Federal Reserve announced Monday it has begun the testing phase for the program, including the onboarding of participating organizations. More than 120 organizations, including Square Financial Services Inc., an industrial-bank subsidiary of Block Inc., and Q2 …
April, 2022
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26 April
As Visa Contends With Inflation And the War for Ukraine, It Posts a ‘Very Strong’ Quarter
A year ago, you might have heard payments-network bigwigs complaining about the pandemic’s impact on revenues and volumes. Now, not so much. But, late Tuesday, Visa Inc. indicated it has been hit by a fresh development—Russia’s invasion of Ukraine. That war, which began Feb. 24, trimmed 4 percentage points off …
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26 April
As Other Markets Advance, the U.S. Has Much Catching up To Do in Real Time Payments
With the expected introduction by the Federal Reserve next year of a commercial real-time payments platform for the United States, total instant payments in the U.S. market will rise nearly five-fold, to 8.9 billion, by 2026. That’s up from 1.8 billion last year. The dollar volume on these transactions will …
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21 April
Famous Dave’s Picks Presto and other Digital Transactions News briefs from 4/21/22
The Famous Dave’s chain of barbeque restaurants has chosen Presto as its exclusive provider of pay-at-table technology. The chain, which operates more than 150 locations, is a unit of BBQ Holdings Inc.Payments provider Fortis announced an integration with the Oracle Payment Interface for its hospitality and retail segments. The integration is expected to ease …
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5 April
TouchBistro Adds Marketing Component and other Digital Transactions News briefs from 4/5/22
Payments provider TouchBistro launched TouchBistro Marketing, aimed at helping restaurants connect and market to customers via custom marketing campaigns. The new system links to TouchBistro’s restaurant-management platform.Innovative Payment Solutions Inc. announced the second phase of its IPSIPay App with approval from Visa Inc. for use of Visa debit cards within the app.PayPal Holdings …
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1 April
Most—79%—of Cybersecurity Pros Claim Ransomware Attacks in Past Year and other Digital Transactions News briefs from 4/1/22
Some 79% of cybersecurity professionals globally said their organizations had been hit by ransomware within the last 12 months, according to a survey of 620 respondents conducted by Enterprise Strategy Group and commissioned by OwnBackup, a data protection platform.Payments provider Repay Holdings Corp. announced an integration with Flex, a provider of core system …
March, 2022
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29 March
Payfare Lines up Visa Direct and other Digital Transactions News briefs from 3/29/22
Payments provider Payfare Inc. announced it is adding Visa Direct to its platform to enable real-time payouts to gig workers.Cloud-based payments provider Volante Technologies said it is working with the consulting firm KPMG to offer banks cloud technology for real-time payments, along with an advisory service.Mastercard Inc. is working in the United Kingdom with Temenos, …
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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 …
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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 …