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- The Federal Reserve announced its FedNow real-time payments network has raised its transaction limit to $10 million from $1 million. The tenfold increase is expected to enable more transactions for such usages as corporate treasury and payroll, vendor payments, and real-estate transactions.
- The Consumer Financial Protection Bureau issued a release saying it may not have the funds to operate because Dept. of Justice lawyers have “determined that the Bureau may not legally request funds at this time from the Federal Reserve under Dodd-Frank.” Among other banking regulations, the 2010 Dodd-Frank Act established the CFPB.
- North Star Community Credit Union launched its buy now, pay later program, a service that is underpinned by Equipifi.
- American Express Co. announced the Amex Shop Small Grants Program that will award up to $5 million in total as part of its annual Small Business Saturday promotion following Thanksgiving Day. Eligible U.S. small businesses can apply for one of the initial 250 grants up to $20,000 beginning Nov. 29.
- Point-of-sale system maker Qu POS Inc. said restaurant management and bill payment platform MarginEdge, completed an integration with Qu’s platform.
- Bluefin Payment Systems LLC announced new capabilities with the Epic MyChart healthcare management software to enable organizations to securely accept health savings and flexible spending accounts card payments.
- Mastercard Inc. said its Mastercard Move service will support near real-time payouts to stablecoin wallets through a collaboration with Singapore-based Thunes and its Direct Global Network, a real-time payments system.
- Payments platform Lightspeed Commerce Inc. appointed Gabriel Benavides chief revenue officer. The company also said its president, JD Saint Martin, will step down March 31 next year after six years with the company.
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