Transaction Processing

[Aug. 15] Routable, a San Francisco-based accounts-payable platform provider, has expanded its support for real-time payments through connectivity to FedNow, the Federal Reserve’s 2-year-old real-time payments platform.  With the addition of FedNow, Routable says its customers have the ability to send instant payments to as many as 85% of bank …

[Aug. 12] Stablecoin giant Circle Internet Group Inc. early Tuesday unveiled Arc, a new payments platform aimed at major money flows, including foreign exchange. The new service, part of the existing Circle Payments Network, will speed up foreign exchange while offering what the company calls “sub-second instant finality” in settlement, the …

[Aug. 13] Buy now, pay later platform Affirm Holdings Inc. has expanded its partnership with Stripe Inc. to make its BNPL services available to in-store shoppers through the Stripe terminal. Stripe, which has deployed more than a million terminals, is making Affirm available as a payment method to physical merchants in …

Currys, a United Kingdom-based technology retailer, formed a new partnership with Stripe Inc. that will see Stripe point-of-sale terminals installed in the merchant’s nearly 300 stores. The global credit card market is forecasted to grow in transaction value from $14.83 trillion in 2025 to $17.73 trillion in 2030, according to a report from Mordor …

[Aug. 8] Separate efforts by Par Technology Corp. and SoundHound AI Inc. to boost their wins, especially among restaurant clients, appear to be paying off, if their latest earnings are indicators. ParTech, based in New Hartford, N.Y., is coming off its $132-million acquisition in January of Delaget LLC, a platform …

[Aug. 8] With merchants prevailing in their long-running legal battle to overturn debit rate caps set by the Federal Reserve, the largest debit card issuers could wind up the biggest losers, while Capital One Financial Corp. emerges as the big winner. U.S. District Court for the District of North Dakota …

[Aug. 13] Six months after issuing an API code to enable surcharging for online transactions, Chicago-based Yeeld released YeeldPay, its surcharging program for merchants. Yeeld says YeeldPay is a no-code payment page that provides merchants across the United States with a compliant surcharging program that, because it uses the Yeeld Surcharging …

In an effort to appeal to travelers from abroad, China’s dominant UnionPay payments card network announced early Wednesday a new platform designed to simplify everyday transactions for international visitors. Dubbed Nihao China, the new app offers a range of capabilities, including cross-border and person-to-person payments, according to 23-year-old UnionPay, which …

FICO’s latest scoring models now factor in buy now, pay later repayment data, a milestone many hoped would bring these plans into the mainstream credit system, giving lenders more visibility into consumers’ total debt and payment behavior.  However, despite billions flowing through installment-payment platforms, lenders still can’t see the full credit picture. …

Holiday spending in Canada over the seven-week period starting Nov. 1 rose 4.4% compared to the same period last year, according to a report from Visa Consulting & Analytics. Some 88% of the spending occurred in-store, with the remainder spent online. Payments provider Klarna AB said U.S. spending on its platform on entertainment, …