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April 10, 2024
Top Post
CHIPS® Network Successfully Migrates to ISO 20022 Message Format
The Clearing House
"The CHIPS® network, the largest private-sector high-value clearing and settlement system in the world, which is operated by The Clearing House, successfully migrated to the ISO 20022 message format on the April 8 banking day."
On the web
Brazil’s BV Bank Testing Car Sales as Part of DREX CBDC Pilot
Ledger Insights
Brazil’s BV Bank is involved in one of 16 pilots for Brazil’s wholesale central bank digital currency (CBDC), DREX. It recently shared details about its use case to enable delivery versus payment settlement when buying a car.
Airwallex Rolls Out Borderless Visa Cards in Canada, Giving Canadian Businesses a Streamlined Approach to Global Expense Management
Airwallex
"Airwallex introduced the Airwallex Borderless Visa® Card in Canada. The virtual card is issued by Peoples Trust Company and enables Canadian businesses to easily make payments around the world, everywhere Visa is accepted."
On the wires
Wirex Reveals Plan for Decentralised Governance in Upcoming Web3 Payment Network WPay
PR Newswire
"Wirex, a leading Web3 money app, is taking a big step towards decentralisation by announcing its plans to create a Decentralised Autonomous Organisation (DAO) for its innovative payment platform, WPay."
April 9, 2024
Top Post
MAS and Mastercard Sign MoU to Enhance Cooperation in Cybersecurity
Mastercard
"The Monetary Authority of Singapore and Mastercard signed a Memorandum of Understanding to enhance cooperation in cybersecurity, with the aim to strengthen cyber resilience in the financial services sector in Singapore."
On the web
Adyen Finds the Global Retail Sector Lost $429 Billion to Payments Fraud Last Year
Adyen
"Adyen has published new research revealing the billions the global retail sector loses to fraudulent activity annually...Of those consumers who fell victim to payments fraud in 2023, $808.42 was the average amount lost per person globally – an increase of 234% when Adyen last conducted the survey in 2023."
dLocal and Papaya Global Forge Partnership to Support Complete Workforce Payments Globally
dLocal
"dLocal announced its strategic partnership with payroll and payments platform Papaya Global joining forces to enable companies to easily handle workforce payments globally, including across emerging markets."
Pan-European Verification of Payee Ready by December
EBACLEARING
"EBA CLEARING announced that it will provide its service users with Verification of Payee at a pan-European level as from December 2024...With the delivery of Verification of Payee, the Company will support payment service providers (PSPs) in offering IBAN/name matching services to their customers for their SEPA transactions."
Stablecoins: Regulatory Responses to Their Promise of Stability [BIS]
BIS
"As the stablecoin market continues to evolve in its quest to offer a means of payment, national and international regulatory bodies are responding to these developments by implementing a comprehensive suite of measures aimed at mitigating the risks associated with stablecoin issuance."
Olo Accelerates its Mobile Wallet Adoption Utilizing Spreedly
Spreedly
"Spreedly has been selected as the platform of choice to enable mobile wallet transactions for restaurant brands that use Olo a leading hospitality SaaS platform that enables its customers to build digital ordering, payment, and engagement experiences with a flexible open ecosystem of over 300 partners."
On the wires
Ant Group Launches Partnership on International Consumer Friendly Zones Program in China, Partnering With Global E-wallets, Card Organizations
Business Wire
"Ant Group, along with 11 overseas payment partners of Alipay+ and major international card organizations, launched in Beijing a nationwide Program to build International Consumer Friendly Zones across major Chinese tourist and commercial cities, with the support of relevant authorities and local governments."
Everyware Launches Comprehensive Suite of Identity Verification Solutions to Transform Customer Security
Business Wire
"Everyware unveiled its advanced Identity Verification Solutions suite designed to combat rising payments fraud and bolster customer confidence."
Entrust Completes Acquisition of Onfido, Creating A New Era of Identity-Centric Security
Business Wire
"Entrust announced that it has completed its acquisition of Onfido, a global leader in identity verification."
April 8, 2024
On the wires
Vroom Delivery Partners with Finix to Create First C-Store Specific Online Payment Solution
PR Newswire
"Vroom Delivery has partnered with Finix to create Pay360, the first online payment solution specifically tailored for the convenience store industry."
SUNRATE Brings Apple Pay to its Commercial Credit Card Customers
PR Newswire
"SUNRATE, a global payment and treasury management platform, brings its customers Apple Pay, a safer, more secure and private way to pay, and uses the power of iPhone to protect every transaction."
April 5, 2024
On the web
Finzly Launches Account Galaxy: Embedded Banking Solution with Virtual Account and Virtual Ledger Capabilities
Finzly
"Finzly announced the launch of Account Galaxy™, a solution that provides the tools and technology needed by banks of all sizes to participate in the emerging embedded banking segment."
Worldline and Tabesto Launch the First All-In-One Ordering and Payment Kiosk
Worldline
"Worldline and Tabesto announced the launch of the first all-in-one ordering and payment kiosk, using SoftPOS ‘Worldline Tap on Mobile’ technology."
Fiserv Small Business Index™ for March 2024: Seasonal Factors Impact Small Business Sales as Spring Arrives
Fiserv, Inc.
"Fiserv has published the Fiserv Small Business Index™ for March 2024...Nationally, sales at retail small businesses were soft compared to February (-1.6%) but trended well ahead of March 2023 (+5.1%)."
On the wires
MoneyGram Announces New Partnership with Tencent Financial Technology to Enable Digital Remittances to Weixin Pay Wallet Users across China
PR Newswire
MoneyGram announced a new partnership with Tencent Financial Technology to enable consumers to send funds through MoneyGram Online, MoneyGram's leading direct-to-consumer website and app, and directly to recipients' Weixin Pay wallet, a leading payment and digital wallet service in China.
April 4, 2024
Top Post
RTP® Network BreaksRTP® Network Breaks Instant Payments Records Instant Payments Records
The Clearing House
"Consumers and businesses took advantage of instant payments through The Clearing House RTP® network, which resulted in numerous records set in the first quarter of 2024. The network experienced a record 76 million transactions in the first quarter, valued at $42 billion. March was also a record month with nearly 27 million transactions, and March 1st is now the single day with the most transactions at over 1.25 million."
On the web
PayPal Enables PYUSD Stablecoin for Xoom Cross-Border Money Transfers
PayPal Newsroom
"Xoom, PayPal's cross-border money transfer service, announced that U.S. users now have the option to fund money transfers to friends and family abroad using USD converted from PayPal USD (PYUSD), a U.S. dollar-denominated stablecoin."
Mastercard Announces New Cardholder Benefits to Enhance Health & Wellness, Travel and Lifestyle Rewards for Consumers, Small Businesses
Mastercard
"Mastercard announced new credit card benefits, working with leading health & wellness, travel, and lifestyle brands to help bridge the gap between everyday essentials and enriching experiences."
Banking Circle Delivers Innovative Agency Banking Service
Banking Circle
"Banking Circle’s latest enhancement to its Agency Banking solution provides Financial Institutions (FI’s) and Payment Service Providers (PSP’s) with a faster and cheaper access point to local payment schemes to expand into further markets. The solution delivers indirect access to EURO local clearing via SEPA Credit Transfer (SCT), SEPA Instant Credit Transfer (SCT Inst) and GBP via Faster Payments Service (FPS)."
iDEAL Integrates Spread Payments with iDEAL in3
iDEAL
"Payment solution iDEAL now also offers iDEAL in3, a payment option that allows consumers to spread the cost of online purchases over three instalments. The revenue model of iDEAL in3 is based on a fixed fee per transaction rather than aiming for the highest possible percentage of non-paying customers."
Klarna ‘Wikipink’ Challenges Broken US Credit System With Transparent Data
Klarna
"Klarna announced in an industry-first, the launch of a new online initiative - Wikipink - aimed at setting new standards for transparency and responsibility in the credit and lending industry. Klarna challenges the status quo by revealing comprehensive data on its services, including repayment rates, late fee rates, and consumer age demographics, highlighting its commitment to fair and sustainable credit solutions."
Klarna Challenges UK Banks With Transparent Consumer User Data Revealing 95% of Payments Paid on Time or Early
Klarna
"Klarna announced Wikipink, an industry-first data hub with facts on how UK consumers are using Klarna’s credit products. Amid growing scrutiny over the practices of credit providers and increasing credit card debt in the UK, Klarna revealed comprehensive data on repayment rates, debt-collection, defaults and consumer age demographics."
On the wires
Skipify and Visa Partner to Extend Reach and Capabilities of Skipify's Connected Wallet
PR Newswire
Skipify announced its partnership with Visa through the Visa Digital Commerce Program. Through this effort, Skipify aims to reinvent the way consumers transact, leveraging cutting-edge technologies to simplify and accelerate the payment process.
Trustly and Cross River Propel Instant Payment Adoption with Support of FedNow® Service
Business Wire
"Trustly and Cross River Bank are proud to expand their collaboration in instant payments with the addition of the FedNow® Service. Trustly merchants can scale their business leveraging the power of both RTP® and Fednow®"
Zip Introduces New Enterprise Capabilities To Help the World’s Largest Organizations Modernize Global Procurement and Drive Cost Savings
Business Wire
"Zip launched new enterprise capabilities that enable businesses to drive compliance, strengthen integrations across other tools, and scale faster as the company helps customers."
April 3, 2024
Top Post
Mastercard Plans a Network Fee Hike for Later This Month. Merchants Aren’t Happy
Digital Transactions
"Mastercard merchants will see a network fee increase later this month when Mastercard increases its Acquirer Brand Volume Fee from 0.13% to 0.14%, effective April 15."
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