Tuesday , February 11, 2025

FIS Enables FedNow Send Capability and other Digital Transactions News briefs from 2/4/25

  • FIS Inc. said it is one of the first fintechs certified to offer send capability on credit transfers through the FedNow real-time payments network, operated by the Federal Reserve. The company is offering the new service to bank clients for use by both consumers and commercial clients.
  • Hospitality point-of-sale services specialist Olo said it is working with FreedomPay to improve the restaurant payment experience that will enable Olo to process more card-present transactions using FreedomPay’s payment gateway. Its Olo Pay also can now use Stripe’s payment processing on in-person POS transactions for most of the more than 700 clients using it.
  • Sarasota, Fla., is the best city to “go cashless” in, according to a ranking from Upgraded Points of cities by number of businesses accepting digital payments. The study looked at the top 100 U.S. cities by population.
  • Data analytics company FICO released a report on the impact of buy now, pay later services in consumer FICO scores that found opening a new BNPL line was generally consistent with the opening of a new account for more than 85% of the consumers in the study. The 12-month long report, done in partnership with Affirm Inc., evaluated the FICO scores of more than 500,000 consumers who opened at least one new Affirm loan against a benchmark group with no Affirm BNPL accounts.
  • Corpay Inc. has agreed to acquire Gringo, a Brazil-based mobile-payments platform in a deal expected to close near the end of the first quarter. Terms were not announced.
  • Duck Creek Technologies, a software provider to the insurance industry, launched its Payments Marketplace, which includes integrations with payments platforms. It also announced it will work with Paymentus to ease integrations.
  • Beacon, a Canada-based financial-services platform, announced Beacon India Bill Pay, technology aimed at allowing users in Canada to pay bills in India from a Beacon Money account.
  • Nabis, a cannabis wholesaler, said it will work with technology firm Dutchie to offer Dutchie’s point-of-sale system to client merchants.
  • Bitcoin Depot Inc., a deployer of Bitcoin ATMs, announced a purchase of an additional $5 million in Bitcoin—or 51 BTC—as part of a treasury strategy the company announced in June.
  • MoneyGram International Inc. agreed to work with Payflo Inc., a specialist in payments software for regulated industries, for cash-in and cash-out services in U.S. gaming and lottery applications. Also, MoneyGram hired Luke Tuttle as its chief technology officer. Tuttle’s experience includes work at Klarna AB, Experian plc, and eBay Inc.

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