Wednesday , September 27, 2023

Jack Henry’s New P2P Payments Platform And Other Digital Transactions News briefs from 10/25/22

  • Financial-services technology provider Jack Henry & Associates Inc. launched a real-time peer-to-peer payments platform, based on the Digital Payments Platform from the payments-technology firm Payrailz. Jack Henry acquired Payrailz in September for undisclosed terms.
  • Gr4vy, a U.S.-based payments-technology provider, said Australia’s Woolworths Group will use the company’s payments-orchestration platform to run the retailer’s Wpay service. Woolworths Group is said to be one of the biggest card-payment processors in Australia.
  • ConnexPay, which says it is the only payments company to integrate payments acceptance and issuance in a single platform, announced a $110-million growth-equity investment led by FTV Capital. The company has now raised $145 million to date.
  • Discover Financial Services reported its payment-services unit processed $84.1 billion in volume in the third quarter, up 10% year-over-year. Diners Club volume increased 34% on an increase in travel. Total revenue for the company came to $3.48 billion, up 25%, though net income dipped 8% to $1.09 billion.
  • The card-issuing platform Marqeta Inc. launched Marqeta for Banking, offering a set of banking products including instant funding and automated clearing house payments, along with deposit accounts, direct deposit, and ACH with integration to Plaid, the open-banking platform.
  • Cross River Bank said a new agreement with American Express Co. will allow the bank to issue credit cards on the AmEx network on behalf of fintechs.
  • Future FinTech Group Inc., a blockchain application developer based in the United States, announced it is launching its FTFT Orbit e-wallet app in the United Kingdom. The wallet allows users to send money, receive discounts, pay bills, and process remittances. It is also linked to a physical debit card.
  • Guidewire, a technology provider to the insurance industry, said it is working with payments provider One Inc to offer a payments package to customers, adjusters, agents, and vendors.
  • Payments platform Choice Inc. launched the Choice Business Portal, a site that provides access to business tools and data analytics.

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