New solution from Astra promises faster automated ACH transactions
A new development platform launched Tuesday claims to help banks and fintechs offer faster automated ACH transactions at less cost than building an ACH connection. The company, Astra, has an ACH API...
View ArticleFed restores some services after outage on ‘operational error’
The Federal Reserve began restoring some services Wednesday afternoon following widespread outages across several key payment systems operated by the U.S. central bank. “A Federal Reserve operational...
View ArticleCapital One test-drives a partner integration to reduce false transaction...
Capital One is partnering with e-commerce fraud prevention platform Forter to reduce false transaction declines with a new automated integration. The $421.6 billion Capital One found false declines...
View ArticlePayments platform Plastiq partners with accounts receivable automation firm...
Business-to-business payments firm Plastiq has announced a partnership with automated accounts receivable platform Billfire that will allow merchants to accept and transmit credit card payments, even...
View ArticleOnline payment fraud in e-commerce to exceed $20 billion in 2021
As people increasingly shop online, fraudsters are targeting weak points in the e-commerce ecosystem. Losses from digital payments fraud in e-commerce are set to exceed $20 billion this year, according...
View ArticleFIS and NYDIG roll out mobile banking for Bitcoin via traditional bank accounts
Technology solutions provider FIS is set to roll out a mobile banking solution that enables banks to give their customers the ability to buy, sell and hold Bitcoin within their traditional bank...
View ArticleBanks should prep for FedNow’s real-time payments
The U.S. is seven months out from testing the FedNow Service, the Federal Reserve’s real-time payments rail, and now is the time for banks to prepare. The question is: How? The FedNow pilot project...
View ArticleExecutive Q&A with Bobby Matson, CEO and founder of Payitoff
Payitoff automates student loan repayment for financial institutions, reducing defaults and saving, on average, $240 a month per borrower, says company founder and CEO Bobby Matson. The New York-based...
View ArticleWalmart and PayNearMe deal allows customers to pay rent, utility bills with...
Walmart continues to ramp up its financial services offerings, today announcing a new deal inked with payments platform PayNearMe that allows customers to pay rent, car payments and utility bills with...
View ArticlePayments processor Marqeta climbs after $1.23 billion IPO
Marqeta Inc., an online card and payment processing company, rose as much as 21% in its trading debut after raising $1.23 billion in an initial public offering priced above a marketed range. Shares of...
View ArticleSenate hears testimony pushing for U.S. digital currency
The U.S. Senate on Wednesday conducted a hearing related to a possible rollout of a Central Bank Digital Currency (CBDC), urged on by academic and private sector experts who are pushing for the Federal...
View ArticleThe buy now, pay later trend heats up
The buy now, pay later (BNPL) boom, which uses technology and alternative credit risk evaluations at points of sale for instant credit decisioning, is a trend JPMorgan Chase is taking seriously, CEO...
View ArticleUS central bank digital currency faces congressional scrutiny
The design of a potential U.S. central bank digital currency (CBDC) remains a topic of debate, as made clear at a Tuesday hearing of the U.S. House Committee on Financial Services Task Force on...
View ArticleWeekly Wrap: China pushes U.S. to take central bank digital currency seriously
This week, Bank Automation News delves into a House committee’s inquiry into a potential central bank digital currency (CBDC), and explored China’s role in prompting the U.S. to explore a CBDC, as well...
View ArticleA $130M crypto quant nets big returns as options boom
Forget Elon Musk tweets, regulatory missives and Bitcoin’s energy consumption. To hedge fund manager Shiliang Tang, the biggest crypto story this year is taking place in the shadows: An options market...
View ArticleVirtual card fintech raises $3M to extend reach in Latin America, Caribbean
Digital card payment platform provider Moca announced Tuesday a $3 million series B funding round that will allow the platform to expand its foothold in Latin America and the Caribbean. The end-to-end...
View ArticleThe Fed’s Quarles points to downsides of digital currency
U.S. Federal Reserve Vice Chair for Supervision Randal K. Quarles made disparaging remarks about a potential U.S. central bank digital currency (CBDC) on Monday, pointing to the risk involved with its...
View ArticleCrypto risk firm Chainalysis benefits from step up in regulation
Chainalysis and other cryptocurrency risk and compliance firms like Elliptic and CipherTrace are benefiting from accelerated cybercurrency enforcement actions by U.S. regulators related to anti-money...
View ArticleAnt Group-backed Kakao Pay seeks up to $1.4 billion in IPO
Kakao Pay Corp., South Korea’s largest online payment service with 36 million users, is seeking to raise as much as 1.63 trillion won ($1.4 billion) in an initial public offering in Seoul, following...
View ArticleCryptocurrency firm Circle eyes public listing via SPAC merger
Stablecoin issuer Circle is looking to go public via a merger with special purpose acquisition company (SPAC) Concord Acquisition Corp. Circle today announced that the deal values the firm at $4.5...
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