A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
September 11, 2024
On the web
Cross-Border QR Codes Begin to Take Shape (Vietnam)
Vietnam Investment Review
"Pham Anh Tuan, director of the Payment Department at the State Bank of Vietnam, announced that Vietnam had successfully established cross-border payment connections via QR codes with Thailand and Cambodia, and was in the process of extending to Laos."
TrueLayer powers Stripe’s Pay by Bank feature in the UK
IBS Intelligence
"TrueLayer, Europe’s open banking payments network, has expanded its partnership with Stripe . TrueLayer now underpins Stripe’s Pay by Bank offering across its payment products in the UK."
Paxos Expands to Arbitrum with Plans to Bring Tokenization Platform to the Network
Paxos
"The Arbitrum Foundation announced that Paxos, a regulated blockchain infrastructure and tokenization platform, will integrate with Arbitrum, the leading Layer 2 (L2) scaling solution on Ethereum. "
EMVCo Adds Reduced Range Testing Process for Contactless Payments Acceptance on Standard NFC Devices
NFCW
"EMVCo has introduced a dedicated testing approval process designed to “promote a more seamless experience when smartphones and other handheld mobile devices are used to accept contactless payments."
Tencent’s WeChat Pay Brings Palm Payments to Macau, Targeting Mainland Chinese Tourists
South China Morning Post
"WeChat Palm Pay lets mainland tourists pay by scanning their hand in shops located in hotels under the Galaxy Entertainment Group"
Coda Fights Fraud With Campaign to Protect Gamers From Scams
Coda Payments
As a leading expert in commerce solutions for gaming and digital content publishers, Coda Payments top priority is ensuring that every transaction for its customers is secure, seamless, and stress-free. As part of this commitment, the out-of-app monetization experts have launched the "Coda Fights Fraud" campaign to protect gamers from scams and bad actors.
NICE Actimize 2024 Fraud Insights Report Shows Investment and Romance Scams Pose Increased Consumer Risk
businesswire
"NICE Actimize has released "The 2024 NICE Actimize Fraud Insights Report, First Edition,” which explores the latest data behind the evolution of fraud attacks."
BPI and TCH Respond to Financial Stability Board’s Cross-Border Payments Consultation Report
Bank Policy Institute
"The Clearing House Association and the Bank Policy Institute submitted a comment letter to the Financial Stability Board in response to the Recommendations for Regulating Supervising Bank and Non-bank Payment Service Providers Offering Cross-border Payment Services Consultation Report."
Payoneer More Than Doubles Its Fees for Pakistani Users
ProPakistani
"Popular online money transfer platform Payoneer has significantly raised the transaction fee for sending or receiving payments in Pakistan, a move that could severely hurt business for local freelancers who rely on the service."
On the wires
Shoplazza Partners with Stripe to Revolutionize E-Commerce Payment Solutions
PR News Wire
"Shoplazza announced a new partnership with Stripe to power Shoplazza's payment platform. This partnership, unveiled at the Stripe Tour Singapore 2024 – Asia Pacific Regional Event, represents a major advancement in Shoplazza's e-commerce payments, aimed at enhancing both efficiency and security for merchants."
Boost Payment Solutions Empowers Enterprise Buyers to Conveniently Pay Global Suppliers using Commercial Cards with Boost 100XB
PR News Wire
"Boost Payment Solutions, the global leader in B2B payments, announced Boost 100XB, an innovative new cross-border payments solution for US-issued commercial cards. Boost 100XB allows the use of existing U.S.-issued commercial cards to pay suppliers in over 180 countries worldwide."
Atradius and Mondu Team up to Enable Better Payment Solutions for B2B E-commerce
PR News Wire
"Atradius, a top global credit insurer, and Mondu, a pioneering fintech offering Buy Now Pay Later (BNPL) solutions, have launched a collaboration aiming at empowering businesses across Europe with the seamless integration of the most popular B2B payment options into their e-commerce channels without the need for external payment gateways."
Visa Aims for 10-Fold Rise in Pakistani Use of Digital Payments
Reuters
"Visa plans to increase the number of businesses accepting digital payments in Pakistan tenfold over the next three years, the payments giant's general manager for Pakistan, North Africa and Levant told Reuters."
September 10, 2024
On the web
PayPal and Venmo Add ENS for Simplified Crypto Payments
The Crypto Times
"PayPal and Venmo have incorporated the Ethereum Name Service (ENS) into their platforms, enabling users to send cryptocurrency by simply entering a readable ENS name rather than a complicated wallet address."
First Citizens Bank Customers Can Now Receive Instant Deposits
First Citizens Newsroom
"First Citizens Bank announced that its business and consumer banking customers can now instantly receive secure payments in their savings and checking accounts via a national instant payments network called the RTP® network."
FBI Reports 45% Rise in Crypto Fraud, $5.6 Billion Lost, 71% From Investment Scams
Bitcoin News
"The Federal Bureau of Investigation’s Internet Crime Complaint Center has revealed a sharp rise in cryptocurrency fraud complaints, with over 69,000 cases and $5.6 billion in losses. Investment scams accounted for 71% of these losses, highlighting the growing exploitation of digital currencies. The FBI further noted that crypto fraud represents nearly half of total losses."
On the wires
Ansa Launches In-Store Payments Solution for White-Labeled Wallets
PR News Wire
"Ansa announced the launch of Ansa Anywhere, a first-of-its-kind payment solution to provide brands and their customers seamless tap-to-pay capabilities in-store from a customer's wallet balance. This product enables brands, including restaurants and retailers, to accept stored value balances in-store via digital wallets such as Apple Pay and Google Pay without the need for additional hardware, complex integrations, or extensive training."
U.S. Bank Offers Paze℠ for Cardholders and Merchants
Business Wire
"All U.S. Bank clients with eligible credit and debit cards now have access to Paze℠ , a new online checkout solution that makes online shopping more convenient. Paze is an easy checkout experience with no manual card entry, no new Paze password to remember and no need to download third-party applications."
Klarna Partners With UATP to Tap the $1 Trillion Air Travel Industry
PR News Wire
"UATP announced a new partnership with Klarna. The partnership allows airlines to offer Klarna's flexible payment services, including interest-free Buy Now Pay Later, providing customers with more flexible payment options for travel products and services."
myKaarma Payments Surcharging Supports Compliance with New Honest Pricing Laws for Automotive Dealerships
PR News Wire
"myKaarma, a provider of communication and payment software solutions for automotive dealerships, announced that its myKaarma Surcharge now supports compliance with new Honest Pricing Laws enacted across various states including California and New York. myKaarma's Surcharging Solution allows dealerships to offset credit card processing fees by enabling compliant surcharge capabilities for all eligible transactions"
September 9, 2024
On the web
Santander, Visa, Mastercard Selected for Brazil’s DREX CBDC Pilot
Ledger Insights
"Banco Central do Brasil has announced the 13 themes that will be trialed during the second phase of the DREX pilots. Santander, Visa, Mastercard and Google are amongst the participants in the 16 consortia, which involve over 50 companies."
Adyen’s Intelligent Payment Routing Achieves 26% Cost Savings and Improves Payment Performance on US Debit Transactions
FF News
"Adyen announced Intelligent Payment Routing for US debit payments, the only AI-based solution in the market that simultaneously optimizes and improves revenue and lowers costs. In a pilot of over 20 enterprise merchants — including eBay, 24 Hour Fitness, Microsoft, among others — Adyen achieved an average of 26% cost savings with a 0.22% uplift in authorization rates against earlier debit performance."
Walmart Quietly Rolls Out New Way to Curb Theft at Self-Checkout
The Street
"Walmart has quietly rolled out a new feature at its stores that is beneficial for paying customers, but bad news for thieves. In a recent TikTok video, a Walmart customer showed herself scanning Great Value items through a self-checkout machine at Walmart without using a barcode."
CMA Confirms Full Completion of Open Banking Roadmap, Unlocking a New Era of Financial Innovation
Open Banking
"Open Banking Limited (OBL) announced that the Competition and Markets Authority has confirmed the completion of the final Roadmap for Open Banking. All nine banking providers have successfully completed the Roadmap and associated required functionality to offer the full suite of open banking payment and account information services."
Japan’s Big 3 Banks to Use Stablecoins, Swift for Cross Border Payments
Ledger Insights
Japan’s big 3 banks, MUFG, SMBC and Mizuho are involved with with a cross border payment system, Project Pax, that aims to use stablecoins instead of correspondent banks. Swift payment messages will be integrated with the stablecoin system, which is based on Progmat.
‘Fake Website’ Scam Has Cost Victims £6.6m (Estimate $8 Million), Says Lloyds Bank
Lloyds Banking Group
"Rogue retailers are using fake websites to trick people into purchasing items that don’t arrive, driving a 211% increase in card payment disputes this year. Tens of thousands of credit and debit card customers have fallen victim over the last year alone, losing £55 on average."
Brazil Government Preparing Heavy Crackdown on Illegal Betting Payments
iGB
"Pay4Fun director Ari Celia tells iGB Brazil's Ministry for Finance has established a new department to target black market operators. He expects Pix blocking efforts to be successful."
PayPal Partners with Shopify to Power a Portion of Shopify Payments in the U.S.
PayPal Newsroom
"PayPal Holdings Inc. announced an expansion of its global strategic partnership with Shopify Inc. in the U.S. PayPal will become an additional online credit and debit card processor for Shopify Payments through PayPal Complete Payments, a solution for marketplaces and platforms comprised of flexible and powerful developer tools."
On the wires
Will Ferrell Goes Shopping 'Everywhere' in PayPal's Biggest US Campaign Ever
PR News Wire
"PayPal announced its biggest U.S. ad campaign ever, starring Will Ferrell and a reimagined version of Fleetwood Mac's "Everywhere" to show consumers how easy, safe, and rewarding it is to shop with PayPal and the PayPal Debit Mastercard in stores and online."
September 6, 2024
On the web
West Africa Unifying Legal Framework for Financial Inclusion, Digital Economy
Biometric Update
"West Africa is at the precipice of a digital economy shift, with efforts spearheaded by governments and organizations across the region to create a unified legal and regulatory framework. These efforts are critical to advancing financial inclusion and supporting the transition to digital payments and a cashless economy, which promises to unlock enormous economic potential."
Payments News
Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.
Top Stories from Payments News
Glenbrook Payments Boot camp®
Register for the next Glenbrook Payments Boot Camp®
An intensive and comprehensive overview of the payments industry.
Train your Team
Customized, private Payments Boot Camps tailored to meet your team’s unique needs.
OnDemand Modules
Recorded, one-hour videos covering a broad array of payments concepts.
Glenbrook Press
Comprehensive books that detail the systems and innovations shaping the payments industry.