Monday , January 18, 2021

Current Begins Federal Stimulus Payments and other Digital Transactions News briefs from 12/30/21

  • Challenger bank Current said it is the first fintech in the country to receive the second round of federal stimulus payments and is making the funds available to members immediately. The stimulus bill, which provides for $600 payments to individuals, was approved by Congress Dec. 21 and signed by President Donald Trump on Sunday. The House of Representatives’ bill to increase the payments to $2,000 is awaiting action by the Senate.
  • Neology Inc., a specialist in mobile technology for transportation and tolling, has launched its Vado mobile app, starting with commuters in Seattle. The app enables contactless payments, among other features.
  • PayActiv Inc., which enables workers’ access to their earned but unpaid wages, said it has received ISO/IEC 27001:2013 certification. The standard, established by the International Organization for Standardization and the International Electrotechnical Commission, sets requirements for information-security management systems.
  • The global prepaid card market is predicted to grow more than 22% annually and reach $18.47 trillion by 2030, up from $2.01 trillion in 2019, according to ResearchAndMarkets.com.

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