Thursday , March 28, 2024

Search Results for: zelle

Working With Early Warning, Big Banks Eye a New Digital Wallet

A major venture by some of the country’s biggest banks to launch a digital wallet using a platform from Early Warning Services LLC, news of which emerged early Monday, is likely to benefit from the banks’ technology resources. But it could be hindered by consumers’ entrenched preferences for major-brand wallets …

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Payments 3.0: With P2P Fraud, Focus on Before, Not After

The discussion about fraud in Zelle and other person-to-person payment apps focuses on the wrong question. Providers, industry observers, and regulators are all discussing what should happen when someone is scammed out of money on these apps. Recent conversations have revolved around whether or not banks, payments providers, or the …

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How the Big Banks Are Addressing P2P Scams

An ongoing controversy regarding consumer losses to authorized but fraudulent transfers on the Zelle peer-to-peer platform has stirred at least some of the country’s biggest banks to work out a range of solutions, including wider adoption of scam defense and detection technology, sources tell Digital Transactions. This development comes as …

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Fraud on P2P Networks Hits 12% of Bank Customers in the U.S., J.D. Power Finds

Some 12% of U.S. customers have lost money to fraud on a peer-to-peer payment network, while 11% have seen it happen to a family member, according to survey results released earlier this month by J.D. Power. The networks cited by the respondents were Zelle, Venmo, and PayPal. For the survey, …

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Study: Peer-to-Peer Payments Are Key To Financial Institutions’ Payment Strategies

As financial institutions look to revamp their payment strategies, peer-to-peer payments are expected to play a key role, says a report from Cornerstone Advisors. During the past three years, nearly 30% of community-based financial institutions have replaced their P2P service or selected a new one, and about one in five …

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Time to Reform the CFPB

The Fifth Circuit’s ruling that the way the agency is funded is unconstitutional opens the door to rewrite its remit and take politics out of its decisions. Paraphrasing Leon Trotsky, payment systems, processors, fintechs, and financial-services firms may not be interested in the CFPB, but the CFPB is interested in …

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How the Nation’s Biggest Banks Are Working to Address P2P Payment Scams

An ongoing controversy regarding consumer losses to authorized but fraudulent transfers on the Zelle peer-to-peer platform has stirred at least some of the country’s biggest banks to work out a range of solutions, including wider adoption of scam defense and detection technology, sources tell Digital Transactions News. This development comes …

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Shrugging off the Impending FedNow, TCH Marks Five Years of Real-Time Processing Growth

As the market for real-time payments continues to develop in the United States—and as the Federal Reserve prepares for a commercial launch of its own real-time network next year—The Clearing House Payments Co. is celebrating the five-year anniversary this month for its own nationwide service. “We keep plowing forward,” Jim …

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Block Pursues a ‘Compelling Opportunity’ in Linking Cash App With Square

Block Inc. is the parent of the well-known Square point-of-sale equipment and processing business, but it’s the company’s Cash App unit that has been stealing a steadily growing share of the limelight at the 13-year-old company. And now Block is working to find ways to link its two big units …

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16th Annual The 10 Most Pressing Issues in E-Payments

The payments business has moved on from the pandemic, but it faces a host of other issues. Here’s our annual catalog of the ones causing the most headaches. Welcome to Digital Transactions’ annual catalog of headaches—the problems, pitfalls, and perils facing the business of processing digital payments. We review these …

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Digital Transactions