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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.
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February 17, 2025
On the web
PhonePe Launches Device Tokenization Solution for Secure Card Transactions
IBTimes India
"PhonePe announced the launch of a device tokenization solution for credit and debit cards. Users will be able to tokenize their cards on the PhonePe App, and use the card tokens across all use cases on PhonePe such as bill payments, recharges, making payments on Pincode, as well as at online merchants where the PhonePe Payment Gateway services are integrated."
FIS Integrates Affirm’s BNPL Solution Into Debit Card Programs
IBS Intelligence
"FIS has entered a strategic partnership with Affirm, making the US payment network its integrated pay-over-time provider for debit issuers."
CU, GS25 C-Stores Pilot Face Recognition Payments Across South Korea
Mobility Plaza
"Starting in March, select CU and GS25 convenience stores across South Korea will implement a new service allowing customers to pay for their purchases via face recognition. The retailers have partnered with Toss, the mobile financial service provider operated by Viva Republica, to roll out its new payment service, "FacePay."
February 14, 2025
Top Post
Iso® 20022 Implementation Rescheduled to July 14, 2025 for the Fedwire® Funds Service
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."
On the web
BNP Paribas and BPCE Join Forces in Payment Processing
Reuters
"BNP Paribas PA, the euro zone's biggest lender, and French rival BPCE said they have finalized an agreement to create Estreem, a joint venture in the payment processing, with the ambition to become one of the top three European players in the sector."
Hitachi Payments investd in India’s Spydra for web3, CBDC, DLT
Ledger Insights - blockchain for enterprise
"Hitachi Payments, the Indian subsidiary of the Japanese IT giant, has made a strategic investment of an undisclosed amount in Spydra . The purpose of the collaboration is for Hitachi to introduce innovations in Web 3.0, Central Bank Digital Currency (CBDC) and Blockchain Technology.”
InComm Payments Introduces New Mastercard "Give Hope" Gift Cards to Support the American Red Cross
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."
Chase to Decline Zelle Payments Originating From Social Media
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 ."
dLocal and Aza Finance Forge Strategic Partnership to Expand Footprint in Africa
dLocal
"dLocal and AZA Finance, a fintech company specializing in payments and foreign exchange in Africa, have entered into a strategic partnership that expands the service offering capabilities of both partners through mutual cross selling."
Five Top Payment Trends that Must Be on Your Radar
Modern Restaurant Management
"The pandemic accelerated the adoption of digital payments, driven by a surge in online commerce. Today, digital payment methods, especially mobile payments, have matured across Europe as consumers embrace diverse digital channels with ease."
Sage Intacct Further Advances AI for Finance Teams
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 Hits 10 Million Consumers, Acquiring a New User Every 3 Seconds
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. "
Did Card-Present Fraud Rates Decline in the United States After the Migration to Chip Cards?
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."
On the wires
Veuu Announces Partnership With Wipro to Facilitate Instant Payments in Healthcare
PR Newswire
"Veuu, a healthcare FinTech, has unveiled a strategic partnership with Wipro Limited to bridge the gap between providers and payers by transforming the payment process with an AI-powered instant payments platform. This collaboration marks an alliance in the healthcare sector, delivering essential improvements to claims payments within the industry through immediate reimbursement for providers."
February 13, 2025
On the web
Regions Bank Announces Latest Innovation to Help Companies Streamline Cash Flow
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."
Payoneer Receives Regulatory Approval for Its Acquisition of a Licensed China-Based Payment Service Provider
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."
JPMorgan Says Tether May Need to Sell Bitcoin to Comply With Proposed Us Stablecoin Regulations
The Block
"Tether may have to sell non-compliant assets — including bitcoin, precious metals, corporate paper and secured loans — to comply with proposed U.S. stablecoin regulations, according to JPMorgan analysts. The U.S. has introduced two stablecoin bills — the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act in the House and the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in the Senate — seeking to regulate stablecoin issuers with licensing requirements, risk management rules and 1:1 reserve backing."
Accelerating Payments Into and Out of Europe
Barclays Investment Bank
"Existing schemes for euro payments into and out of Europe can result in delayed payments outside European business hours. New schemes, such as OCT Inst, offer 24/7 availability and should ensure a seamless customer experience. While adoption will take time, it could be a big change for European payments."
Corpay Cross-Border Launches Multi-Currency Accounts
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."
48% of Central Banks Plan to Issue CBDC Within 5 Years
Ledger Insights
"Think tank OMFIF has conducted its latest survey on central bank digital currency (CBDC) , finding that almost three quarters (72%) of central banks surveyed intend to issue a CBDC. Most of them (48% of respondents) plan to issue within five years, including 12% within the next two years. All the near term issuances will be in emerging market economies."
Project Rialto: Improving Instant Cross-Border Payments Using Central Bank Money Settlement
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."
February 12, 2025
Top Post
Powell Squashes the Possibility That the Fed Will Develop Its Own Digital Currency
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."
On the web
How Core Values Shape Our Relationship With Cash
GI-DE
"What drives our choices when it comes to using cash versus other forms of payment? For Dr Julia Pitters many influences come into play when we make that decision: from the sense of trust and security that make cash appealing through to concerns surrounding the privacy and control of digital payments – an aspect that seems to resonate strongly with Gen Z."
Finance Zelle Payments Top $1 Trillion in 2024 as Network’s Growth Outpaces Rivals Including PayPal
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."
Teaching an Old Dog New Payments Tricks with Stablecoin
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."
On the wires
Socure Launches RiskOS™: The First Risk Decisioning Engine Built on the Industry's Most Comprehensive Identity Graph
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."
Singapore Regulator, Banking Association to Set Up New Payments Entity
Reuters
"Singapore's financial regulator and the Association of Banks in Singapore (ABS) said they will set up a new entity to consolidate the administration and governance of national payment schemes and further grow them. They will also collaborate with MAS to develop Singapore's national payments strategy and ensure a safe, efficient and innovative payments infrastructure."
February 11, 2025
On the web
JPMorgan Adds Buy-Now, Pay-Later Provider Klarna to Its Payments Platform
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."
Affirm Plans to Bring Buy Now, Pay Later Debit Cards to More Users Through Deal With FIS
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."
NIBSS Bets on QR Codes as a Cash Alternative for Small-Value Payments
TechCabal
"The Nigeria Inter-Bank Settlement System (NIBSS) is betting on QR codes as a cash alternative for small-value transactions after improving its Nigeria Quick Response (NQR) payment platform. NIBSS engineers said they have improved the speed of QR code payments by eliminating separate fee queries and enhanced security with stronger authentication measures."
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