Digital Transactions Authoritative, insightful and timely information for payments professionals
Service provider Finzly said it supports the FedNow real-time payments service that launched Thursday. Other providers— Jack Henry & Associates Inc. and Pidgin—also support the instant payment service. Fiserv Inc. said two of its clients are live on FedNow and nearly 100 others anticipate doing so in coming months. Banking services provider CSI said it offers FedNow access and noted …
July, 2023
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20 July
Discover’s Q2 Financial Snapshot: Not as Robust as a Year Earlier
Discover Financial Services late Wednesday reported net income of $901 million for the second quarter of 2023, down 18% from a year earlier. Credit card loans for the quarter totaled $94 billion, a 19% year-over-year increase. As part of its earnings statement, Discover stated that “the comparative prior quarter ended …
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20 July
It’s Official: FedNow Launches With 35 Banks And Credit Unions Signed up For Instant Pay
The Federal Reserve’s instant-payment service, FedNow, is officially live with 35 banks and credit unions participating, the nation’s banking regulator announced early Thursday. The launch, which culminates four years of work since the Fed first announced its intention to build a real-time payments rail, comes as the payments industry moves …
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20 July
Relay Payments’ Latest Integration And Other Digital Transactions News briefs from 7/20/23
Relay Payments, a payments platform for the trucking industry, announced an integration with McLeod Software, a vendor of management software for the same industry. ACI Worldwide Inc. introduced an acquiring-as-a-service platform in collaboration with Dock, a Brazil-based technology company. The product is aimed at retailers, restaurants, and e-commerce businesses. Consumer attitudes …
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19 July
FedNow’s Launch Is ‘Imminent’ As Observers Prepare for a New Age in Faster Payments
The Federal Reserve could launch its FedNow real-time payments service as early as tomorrow, sources tell Digital Transactions News. The network, which has been under development for nearly four years, represents the regulator’s first effort to create a nationwide network for instant payments, a service that other countries, and at …
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19 July
Feedzai Launches Railgun, an AI-Based Fraud-Detection Engine
Risk-management technology provider Feedzai has harnessed artificial intelligence with the introduction of Railgun, its latest fraud-detection engine. What differentiates Railgun, according to Feedzai, is that it taps real-time data such as customer behavior patterns and the use of specific cards across merchant networks over longer periods of time. As a …
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19 July
Eye on Text-to-Pay: DivDat Adds Text-to-Pay for Bill Payments; NMI Adds Authvia’s Text-to-Pay for its Portfolio
Two payments companies are tapping into consumers’ affinity for texting—more than 6 billion SMS text messages are sent daily, according to The Small Business Blog—with a bill-pay service and a program for merchants. First, Detroit-based Diversified Data Processing & Consulting Inc., known as DivDat, added a text-to-pay feature to its …
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19 July
Keyo’s Hand Scanner Debuts And Other Digital Transactions News briefs from 7/19/23
Keyo, a provider of digital-identity technology, released its Keyo Wave+ hand scanner for payments, access control, ticketing, and other uses. Visa Inc. has renewed an agreement to be the exclusive payment-services provider for the U.S. Women’s and Men’s National Soccer Teams. Buy now, pay later provider Afterpay Ltd. said it has added “thousands” of new …
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18 July
Giesecke+Devrient paves the way for more sustainable payments with Pledge 2030
As the first in the industry to promise the elimination of virgin plastic in payment cards by 2030 at the latest, Giesecke+Devrient (G+D) is leading the way in promoting sustainability in the payment card industry. With Mastercard announcing its Pledge 2028 the two industry leaders express their shared vision of …
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18 July
Consumers Want Simpler, Omnichannel Shopping and Payment Experiences, Fiserv Says
From ordering and payments to reward redemption consumers want a simpler shopping experience, according to research from Fiserv Inc. To meet demand, merchants and restaurants should provide more omnichannel experiences, retailer apps, and embedded payment options that add value. Buy online, pick up in store (BOPIS) is one way merchants …