Transaction Processing

The Clearing House Payments Co. LLC, operator of the Real Time Payments network, said Thursday that it will raise the RTP transaction limit from the current $25,000 to $100,000 effective Feb. 1. Steve Ledford, TCH senior vice president of product strategy and development, tells Digital Transactions News the limit is …

BMO Harris Bank has made Zelle person-to-person payments available to its commercial clients, which can use Zelle to pay individuals without requiring banking information needed for ACH transactions. BMO Harris Bank says it is one of only eight banks to offer Zelle as a business-to-consumer service.Commerce Bank said insurer Progressive will use CommercePayments PreferPay for …

Payment firms that are used to choosing which PIN standard to audit against now have a much simpler choice. The Accredited Standards Committee X9 Inc. and the PCI Security Standards Council have created a unified PIN Security Standard, replacing separate ones each organization previously maintained. The consolidation, announced Tuesday, should …

Faster payments on the nation’s automated clearing house network reached a milestone in the fourth quarter, with each business day recording at least 1 million same-day transactions for the first time since same-day service was introduced, according to data released Wednesday by Nacha, the governing body for the ACH. “We’re …

British telecommunications giant Vodafone Group Plc has become the latest Libra participant to withdraw from the controversial digital-currency project initiated by Facebook Inc., Reuters reported. Other early participants that have withdrawn include Visa, Mastercard, PayPal, Stripe, and eBay.With an eye on expanding its Bitcoin services, merchant processor Square Inc. said it is developing what it calls …

Business-to-consumer payouts are attracting a small but growing cadre of payment processors and fintechs eager to exploit a multi-trillion-dollar market where checks and automated clearing house direct deposits have a heavy presence, according to a new report. The report from Aite Group LLC analysts Talie Baker and Erika Baumann identifies …

Two payments companies specializing in serving software application providers announced integrations. First, Pars Consulting Inc. completed the integration of LawPay, a payment service for law practices, for Curo365, a legal-practice software. Redmond, Wash.-based Pars said the LawPay integration with Curo365 will increase clients for both. “There were lots of payment …

Affirm Inc., provider of point-of-sale installment credit, announced StubHub will use its service to sell event tickets that buyers can pay for over time.Chinese tourists in the United States increased their mobile-payments usage in 2019 to 3.1 transactions out of 10 from 2.8 the year before, according to a report released by …

Federal and European law-enforcement agencies last week seized the domain of WeLeakInfo.com, an online site that allegedly held 12 billion stolen records from 10,000 data breaches. The now-shuttered site’s data included names, email addresses, usernames, phone numbers, and passwords for online accounts, according to a news release from the FBI …

Amazon.com Inc.’s ambitions now include devices that could authenticate payments by scanning the palm of the customer’s hand. But while this latest twist in the e-commerce giant’s payments strategy could result in faster and more convenient transactions for users, it also could run into roadblocks that have scuttled similar ventures …