Eye on NRF; BofA Zelle Users Grow 18% And Other Digital Transactions News briefs from 1/15/24

Banking giant Bank of America Corp. reported combined credit and debit card volume of $228.9 billion for the fourth quarter, up 3% year-over-year. The number of BofA users of the Zelle peer-to-peer payments network grew 18% to 21.5 million, while Zelle volume climbed 25% to $101 billion. Late in 2021, the number of Zelle send transactions at BofA started exceeding the number of checks written, with the gap standing at 220 million Zelle send transactions in the fourth quarter compared to 105 million checks.
Tulip, a retail customer engagement platform, debuted Tulip Pay, a payment system, developed in conjunction with Stripe Inc., which uses the Stripe Terminal and the Stripe Reader S7000 to accept in-store payments. Tulip Pay accepts more than 100 payment methods.
Manhattan Associates, a supply chain services provider, said it is working with Shopify Inc. on a service to combine Shopify’s commerce platform with Manhattan’s order management service.
MagTek Inc. introduced three point-of-sale fraud prevention technologies. The first is incorporating AES-256 encryption with authentication and key management technologies. Another is integrating its Qwantum Multi-Factor Authentication service into its Magensa Merchant Portal. The third is the launch of the DynaFlex II Go card reader.
Payments-technology provider Plooto announced a payments-orchestration platform aimed at rapidly growing businesses.

Digital Transactions Authoritative, insightful and timely information for payments professionals