Friday , March 29, 2024

Transaction Processing

 Expect Real-Time Payments Bloom And Other Digital Transactions News briefs from 10/19/23

Ninety-nine percent of large enterprises—those with annual revenue of $1 billion to $9.9 billion—expect to send real-time payments in the next five years, found the 2023 AFP Real-Time Payments Survey released by the Association for Financial Professionals and sponsored by The Clearing House Payments Co. LLC. It also found that 77% of …

Read More »

The Federal Reserve Is Set to Revisit the Debit Fee Cap

The Federal Reserve Board of Governors will consider revisions to its cap on debit card swipe fees at its meeting next Wednesday. The announcement was made as part of a public notice about the upcoming board meeting. While no further details were provided about the Fed’s intentions, retailers made it …

Read More »

On The Fly Taps BYOD for a New Hospitality POS Product

On The Fly POS’s latest product, called Ground Control, is making it easier for hospitality merchants to use their own devices for ordering and table management. The new app, with versions for both iOS and Android mobile devices, enables merchants to use their own hardware with an integrated software app …

Read More »

Health iPASS’s New Service And Other Digital Transactions News briefs from 10/18/23

Health iPASS launched Health iPASS Cloud Payments, a processing service for health-care providers. Fiserv Inc. said it is leveraging its merchant-acceptance and card-issuing technology to ease embedded finance for client financial institutions. Metropolitan Commercial Bank said it will deploy cloud-based technology from Finzly to support payment processing via FedNow, Fedwire, and the automated …

Read More »

Stax Adds Atlantic-Pacific Processing to Boost Its Multichannel Offering

Stax Payments has acquired payment-technology provider Atlantic-Pacific Processing Systems (APPS) for an undisclosed sum. The acquisition is expected to enable Stax to create a new end-to-end payments platform that includes an enhanced multi-channel offering, improved data reporting, and additional customization capabilities. “Our partners and customers want a simple, secure, multichannel …

Read More »

Nacha Volume up 20% And Other Digital Transactions News briefs from 10/17/23

Nacha, the governing body for the automated clearing house network, reported the system processed 212 million same-day payments worth $608 billion in the September quarter, up 20% and 27.1%, respectively, over the same period last year. Total volume for all ACH payment types for the quarter came to 7.8 billion, …

Read More »

Eye on Crypto: NFTpay Enables NFT Purchases With AmEx and Discover; Ferrari To Accept Crypto

NFTpay, a Miami-based purchasing solution for non-fungible tokens, is accepting American Express and Discover cards for purchase of NFTs. These are assets that have been tokenized via a blockchain and assigned unique identification codes and metadata that distinguish them from other tokens. With NFTpay’s credit card purchasing solution, consumers can …

Read More »

Goldman Faces Some Hard Decisions As It Confronts Its Position in Consumer Credit Cards

The pressure at Goldman Sachs Group Inc. to exit, or at least radically modify, its consumer-credit and payments businesses appears to be mounting. At least some executives at the company are pushing senior management to exit credit card deals with Apple Inc. and General Motors Corp., The Wall Street Journal …

Read More »

AppTech To Acquire Alliance Partners And Other Digital Transactions News briefs from 10/16/23

AppTech Payments Corp., a specialist in business-to-business and business-to-consumer payments, has agreed to acquire Alliance Partners LLC and its FinZeo money-movement software. With the deal, expected to close Oct. 31, AppTech will become a payment facilitator, a company that allows merchants to accept payments on the company’s merchant account. Terms …

Read More »

How NMI’s Deal for Sphere’s Commercial Division Will Ease New Merchant Accounts

Payments provider NMI LLC announced Thursday it has acquired the commercial division of Sphere, a cloud-based software and payments-technology company. Sphere Commercial Division primarily serves non-integrated small and mid-size businesses. Terms of the deal were not disclosed. Schaumburg, Ill.-based NMI says the acquisition will strengthen its underwriting and risk-management capabilities …

Read More »
Digital Transactions