frbservices
"The Federal Reserve Financial Services (FRFS) has worked with the industry to prepare for the implementation of the new ISO 20022 message format for the Fedwire Funds Service. After an assessment of customer readiness, FRFS has decided to reschedule the Fedwire Funds Service ISO 20022 implementation from March 10 to July 14, 2025. The Fedwire Funds Service will remain on the current message format until July 14 and announce its final “go” or “no go” decision for July 14 no later than June 27."
PR Newswire
"InComm Payments, a global payments technology provider, has teamed up with Mastercard to introduce the Mastercard "Give Hope" Gift Cards supporting the American Red Cross. For every purchase of a "Give Hope" gift card on www.mastercardgiftcard.com, InComm Payments will donate $2 from the purchase price to American Red Cross disaster relief."
WKMG
"Consumer banking company Chase will not allow its users to send Zelle payments from contacts originating from social media in order to protect users from scams, it said in an email. The bank warned users that 50% of scams reported to Chase come from social media, according to its website ."
Sage
"Sage announced innovative AI-driven tools and automation features for Sage Intacct. Introduced in December 2024, Sage Copilot, a generative AI-assistant for accounting, delivers AI-driven capabilities that enable finance teams to streamline workflows and improve month-end close efficiency with features like Search Help, Variance Analysis and Close Assistant."
TrueLayer
"TrueLayer processes more than 40% of all Pay by Bank payments in the UK, making it the largest Pay by Bank network in the UK. Ecommerce is the fastest growing sector for adoption of Pay by Bank, with TrueLayer experiencing a 5X year-on-year increase in ecommerce transaction volume. "
Kansas City Fed
"The U.S. payment industry began migrating to EMV chip-card technology in the mid-2010s to mitigate card-present fraud, especially counterfeit fraud. However, for non-prepaid debit card transactions processed by dual-message networks, the counterfeit fraud rate has not declined, and the lost-or-stolen fraud rate and overall card-present fraud rate have increased. For these transactions, card-present fraud loss rates have declined for issuers but increased for merchants and cardholders."
Business Wire
"Regions Bank announced its latest offering designed to help Treasury Management clients better manage cash flow, optimize liquidity, reduce risks and more clearly anticipate business needs. The name of the solution is Regions Embedded ERP Finance. Regions’ clients now have the option of using this tool, powered by Koxa, to seamlessly connect financial data to their own enterprise resource planning (ERP) systems."
Business Wire
"Payoneer announced that it has received the regulatory approvals in China required to complete its previously announced acquisition of a licensed China-based payment service provider. The transaction is expected to close in the first half of 2025, subject to customary closing conditions."
Business Wire
"Corpay, Inc. announced that Corpay’s Cross-Border business has introduced Multi-Currency Accounts, enabling ever-growing businesses to expand their global footprints while enjoying hassle-free and seamless foreign currency management, in one single point of access."
BIS
"The retail cross-border payments market is valued at more than $800 billion of transactions per year, and is growing. Despite this, retail cross-border transactions lag domestic ones in terms of cost, speed, access and transparency because of the complex processes they involve."
CNBC
"Federal Reserve Chair Jerome Powell asserted Tuesday that the central bank will not develop its own digital currency as long as he is in charge. Ending several years of speculation whether the Fed would join some of its global counterparts, including China, in developing a formal cryptocurrency like bitcoin or its many peers, Powell said during a Senate hearing that the project would not go forward."
CNBC
"Zelle, the payments network run by bank-owned Early Warning Services, crossed $1 trillion in total volumes last year, which it said was the most ever for a peer-to-peer platform. Its user base jumped 12% to 151 million accounts in 2024, and that the total dollars sent on the platform jumped 27% from the year earlier."
Atlanta Fed
"Learning how to purchase stablecoin and use it to make purchases took some research. If you were wondering why anyone would use stablecoin or why merchants would be interested in taking it, we encountered some of the same questions at the beginning of the pandemic with contactless payments."
PR Newswire
"Socure announced the general availability of its new RiskOS platform. RiskOS builds on Socure's strategic acquisition of Effectiv by integrating its sophisticated orchestration and decisioning engine with Socure's market-leading identity verification and fraud prevention solutions powered by its industry-leading identity graph."
Bloomberg
"JPMorgan Chase & Co.’s payments processing unit is partnering with fintech Klarna to expand buy now, pay later options for its merchants. JPMorgan Payments will provide some 900,000 businesses the ability to offer Klarna’s fast-credit options to their customers, according to a statement Monday."
CNBC
"Affirm has partnered with FIS in a deal that will allow the fintech company to offer the pay-over-time service to its banking clients and their millions of individual customers. Any bank that partners with FIS will be able to provide its own version of the Affirm Card, which launched in 2021, without asking customers to adopt a new piece of plastic."
The Clearing House
"The Clearing House and The Bank of New York Mellon Corporation announced the completion of the largest instant payment in U.S. history and the first-ever payment on the RTP® network exceeding $1 million, following the recent increase in the network’s transaction limit. The $10 million inter-company liquidity management payment, from Computershare, to an account at another financial institution, marks a milestone in the evolution of instant payments."
Crypto Briefing
"Ripple said Monday the firm is partnering with Unicâmbio, a leading financial services company in Portugal, to enable instant cross-border payments between Portugal and Brazil. As part of the partnership, Unicâmbio will utilize Ripple Payments to settle payments for their corporate customers."
Finicity
"As we head into the new year, we are highlighting a few topics that are top of mind for Mastercard Open Banking, and how we see the Open Banking landscape evolving over the next 12-24 months."
Feedzai
"Backbase announced a strategic partnership with Feedzai aiming to empower banks to tackle the growing challenge of digital fraud while maintaining seamless customer experiences."
Business Wire
"P2P, an innovative digital finance platform tailored for the Brazilian community in the United States, is now live—launching two months ahead of schedule in partnership with Mbanq, a global leader in financial technology and Embedded Finance. By leveraging Mbanq’s comprehensive technology, white-label app, and regulatory expertise, P2P delivers a seamless suite of financial services designed to meet the unique needs of Brazilians in the U.S."
Yahoo Finance
"BMO, in partnership with FISPAN, announced the launch of BMO Sync, a solution that integrates BMO Online Banking for Business services directly into Enterprise Resource Planning (ERP) and accounting systems such as QuickBooks Online, Sage Intacct®, and other leading ERPs. This solution is the first of its kind in Canada."
Business Wire
"ACI Worldwide has announced the extension of its fintech partnership ecosystem through an alliance with Banfico, a leading fintech specializing in regulatory technology, global account verification and Open Banking solutions."
Business Wire
"Trustly, the global leader in Pay by Bank, announced a partnership with Spreedly, the world’s leading Open Payments Platform. Together, Trustly and Spreedly will provide merchants with full-service access to Pay by Bank to drive improved conversion rates and optimize payment efficiency across expanded regional and global markets."
GlobeNewswire
"Despite a strong employment picture, some consumers are still struggling financially due to elevated inflation and higher than normal interest rates. In an effort to provide lenders with a clearer picture of thin- or no- file consumers, including those who may not be gaining sufficient access to credit, TransUnion introduced today the TruVision Alternative Bank Risk Score."
Business Wire
"Peach Finance today announced it is powering Square’s credit card offering. The credit card integrates directly with Square’s broader ecosystem of solutions, enabling sellers to manage their cash flow from the same platform they use to run their business."
FIS Global
"FIS today announced it is one of the first providers in the fintech industry certified to enable send capabilities for credit transfers in the Federal Reserve’s FedNow instant payment service. The addition of send capabilities and real-time alerts will enable FIS’ financial institution clients to fully harness the entire FedNow service by providing their consumers and commercial borrowers with a modernized and unified digital payment experience."
Business Wire
"Checkbook's Global Push-to-Card service is now live in multiple countries, with plans to extend its reach further in 2025. The expanded service utilizes Visa Direct’s extensive network, which offers access to 4 billion eligible cards."
Digital Transactions
"Leveraging tie-ins with sister companies to facilitate payments and converting fiat currency to cryptocurrency are some of the possibilities that lay ahead for XMoney, the digital wallet from social-media platform X, in the wake of its partnership with Visa Inc."
The Clearing House
"The RTP® network has achieved a major milestone, surpassing 1 billion payments – just 18 months after crossing the 500 million transaction mark. After taking more than five years to reach the first half a billion payments, the network’s recent rapid growth underscores the expanding acceleration of instant payments adoption in the United States."