Transaction Processing

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 …

As the modern payments landscape has developed, digital wallets have become nearly impossible to avoid—not that consumers want to stay away. In fact, the recent decision by America’s largest banks to team up and create their own digital wallet points to quite the opposite. It’s easy to see why consumers …

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 …

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 …

Apple Inc.’s newest financial product, a buy now, pay later service called Apple Pay Later, has finally arrived. Launched Tuesday, Apple Pay Later was announced in June, but only now is it being made available, and just to a limited set of Apple Pay users. Apple says it will offer broader …

Point-of-sale terminal and payment software provider Ingenico on Tuesday announced it has acquired Phos, a developer of specialty software that enables smart phones and tablets to function as payment terminals. Ingenico said in a statement that Phos is a “premier player” in the fast-evolving software for the POS (softPOS) market …

Losses to identity fraud fell 17% last year, to $43 billion, compared to 2021, thanks to beefed-up prevention at banks and credit unions and more active outreach by consumer-advocacy groups, according to the 20th edition of Javelin Strategy & Research’s Identity Fraud Study. Payments provider Paysafe said Greyhound Lines Inc. will use the Paysafecash …

Early Warning Services LLC, a fintech owned by seven of the nation’s largest banks, will launch its digital wallet with a pilot this summer followed by general availability in the fall, the top official in charge of the project said Monday. The new wallet, called Paze and aimed exclusively at …

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 …

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 …