FedNow overtakes TCH in adoption
FedNow, launched just eight months ago, has overtaken its main competitor, The Clearing House’s Real-Time Payments network, in terms of the number of banks on the platform. Nearly 600 financial...
View ArticleVisa adds new AI tools to help fight digital fraud on payments
Visa Inc. is adding three new AI-powered fraud-prevention tools to its suite of products for business clients as the credit-card giant uses the technology to improve security. Among the tools,...
View ArticleFedNow service providers onboard with cloud
Certified service providers of the Federal Reserve’s FedNow network are looking to the cloud to streamline client onboarding and drive adoption of the payments rail. Tech provider FIS is exploring...
View Article76% of EU banks to up tech spend to comply with new regulation
European banks are preparing their tech stacks to comply with Instant Payment Regulation, which were set in motion on April 8. The European Parliament and European Council, which provide the...
View ArticleJPMorgan Chase invests in wholesale payments tech
JPMorgan Chase is investing in innovation and technology within its wholesale payments operations amid rising demand for global payments capabilities. The $3.7 trillion bank is leaning into payment...
View ArticleU.S. Bank’s investment in payments tech drives growth
U.S. Bank’s investment in payments technology contributed to growth and higher payments revenue in the first quarter. “We are maintaining our through-the-cycle underwriting discipline and seeing the...
View ArticleFiserv deploys AI for productivity
Financial services technology provider Fiserv is deploying AI to drive productivity and sees growth opportunities in the point-of-sale and real-time payments segments. “Our investment in technology is...
View ArticleFintech funding drops to four-year low in Q1
Fintech funding hit a four-year low in the first quarter of 2024, partly driven by the higher cost of capital and a change in priorities for investors. Global fintech funding clocked in at $7.3...
View ArticleTransactions: EverBank selects Finzly to update payment processing system
EverBank has selected payment and financial solutions provider Finzly to update its payment processing system, according to an April 18 release. The $34.6 billion, Jacksonville, Fla.-based bank was...
View ArticleBlock shares CashApp, Afterpay integration update
Block’s Cash App profit and number of users grew in the first quarter as the payments provider integrated buy now, pay later provider Afterpay. Block, formerly Square, acquired Afterpay in August...
View ArticleBusinesses prefer The Clearing House for RTP, Citizens exec says
The Clearing House’s Real Time Payments’ network is gaining mid-market companies as businesses gravitate toward real-time payments. Businesses prefer The Clearing House’s RTP solution because it is...
View ArticlePodcast: How Mastercard deploys APIs
Payments behemoth Mastercard uses APIs to develop a wider range of products for business clients. The company processes roughly 125 billion transactions annually and managing data flow through APIs...
View ArticleCFPB fines Chime $3.25M
Chime Financial was fined $3.25 million by the Consumer Financial Protection Bureau today as the digital bank has failed to give timely consumer refunds. According to Chime’s refund policy, the...
View ArticleFIS launches embedded finance platform
NEW YORK — Tech provider FIS debuted its embedded finance platform, Atelio, in its Investor Day presentation today as its tech leaders discussed growth strategies. Atelio allows software companies,...
View ArticleTransactions: CommerzBank, Global Payments enter joint venture for payments...
Global Payments has received EU regulatory approval and is launching a joint venture with CommerzBank — Commerz Global Pay — this month. CommerzBank, based in Frankfurt, Germany, will use Global...
View ArticleFIs look to tech providers for RTP, FedNow onboarding
Adoption is ticking up for The Clearing House’ Real Time Payments network and the Federal Reserve’s FedNow payments rail as financial institutions add payment services to their platforms. The RTP...
View ArticleTransactions: KeyBank, Qolo launch virtual account management service
KeyBank launched its virtual account management solution, Key Virtual Account Management, powered by payments platform Qolo, on May 7. Key Virtual Account Management (KeyVAM) is a modern core...
View ArticleChase for Business approaches innovation in phases
JPMorgan Chase considers customer needs, competition and time to market when approaching product launches for small-business clients. “We really try to keep the small-business owner at the center of...
View ArticleFedNow, RTP interoperability is inevitable — down the line
The Clearing House’s Real Time Payments network and The Federal Reserve’s FedNow network are prepared to tackle interoperability eventually — but for now, its value remains minimal. The Real Time...
View ArticleJ.P. Morgan Payments tech leader to be fireside speaker at Bank Automation...
Jean-Marc Thienpont, managing director of omnichannel and biometric solutions at J.P. Morgan Payments, will be featured in a fireside chat at Bank Automation Summit Europe 2024 on Tuesday, Oct. 8, at...
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