Mar 1, 2024 · After the hoopla surrounding FedNow’s launch last year, reality is starting to set in. Payments professionals have been basking in a warm glow as a steady stream of media coverage lauds the long-awaited arrival of faster payments and the uplifting role played by those professionals in bringing the long-dormant, slow-innovation paradigm of physical payments to a …

Digital Transactions Authoritative, insightful and timely information for payments professionals

Oct 17, 2024 · Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, announced early Thursday that consumers and small businesses sent $481 billion dollars over the network during the first half of 2024, a 28% increase from the same period a year ago.

Feb 20, 2024 · (Editor’s Note: This story follows up on news late Monday concerning a planned acquisition of Discover Financial Services by Capital One Financial Corp.) On the Tuesday morning after news broke that credit card giant Capital One Corp. intends to shell out $35.3 billion in an all-stock deal to acquire Discover Financial Services Inc., Cap One’s top brass laid out its view of the assets it ...

Dec 26, 2024 · The FinCEN Beneficial Ownership Information mandate is back in force with a recent court decision. That rule, part of the Corporate Transparency Act passed in 2024,had required businesses to file a Beneficial Ownership Information report by Jan. 1, which was delayed earlier in December but now makes these reports due Jan. 13. Businesses formed since Sept. 4 may have additional time, advisory ...

Jan 1, 2025 · Digital payments on debit are rising inexorably, but that doesn’t mean banks can’t leverage their strengths in ATM deployment. Debit cards are incredibly versatile.

Mar 27, 2023 · Merchants, meanwhile, are reacting positively so far to the development, Anderson said, though pricing details beyond standard bank card transaction rates were not available. “We have to show up at scale, which we’re doing with 150 million cards to start,” he said, though he added the service will carry “no extra fees” to merchants, banks, or cardholders.

Jan 24, 2025 · Payments provider Priority Technology Holdings Inc. has acquired Rollfi, a provider of payroll and benefits provider to banks, accountants, and software-as-a-service providers. Terms were not announced. SEPTA, the mass transit agency in the Philadelphia region, awarded a $211 million contract for a new fare payment system called SEPTA Key 2.0 to Cubic Transportation Systems Inc.

Digital Transactions Authoritative, insightful and timely information for payments professionals

Jan 14, 2025 · The CFPB conducted the study to fill in what it calls a “data gap” in consumer credit records when it comes to BNPL loans, as BNPL lenders typically do not report loan activity to the credit bureaus. For the report, entitled “Consumer Use of Buy Now, Pay Later and Other Unsecured Debt,” the CFPB requested data from six of the largest BNPL lenders (Affirm Holdings Inc., Afterpay Ltd ...