Fintech News

MARCH 4, 2024

Elian Ciptono He clarified, “While the ability to hold balances and make transactions using Wise debit cards will be discontinued, our Indonesian users can continue to enjoy sending and receiving money internationally with the same competitive exchange rates and transparent fee structure they are accustomed to.”

Payment APIs and Integration 98

Payment APIs and Integration Debit Card Funds Transfer API 98

Stax

JULY 9, 2024

The world of Electronic Funds Transfer (EFT) payments is vast, spanning just about every payment method you can think of. TL;DR An Electronic Funds Transfer is an umbrella term for payments that are conducted electronically—essentially, any payment method except for cash and paper checks.

Electronic Fund Transfer Act (EFTA) 88

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer 88

Finovate

AUGUST 6, 2024

.” Funding by card is an increasingly popular option given the relative inconvenience of other methods, such as ACH transfers. By comparison, funding new accounts via debit cards is a faster and more seamless process (no routing or account numbers to remember).

Instant Payments 59

Instant Payments Deposit Account Payment APIs and Integration Credit Union 59

Finovate

APRIL 17, 2024

The new accounts, dubbed Mercury Personal, will offer advanced banking tools such as free wire transfers, multiple debit cards with account-level controls, and will pay 5% APY on savings accounts at launch. Business banking fintech Mercury is expanding into personal banking.

Wire Transfer 52

Wire Transfer FDIC Wires Wire 52

Clearly Payments

APRIL 3, 2024

This process is vital for businesses, as it enables them to accept payments through various methods, including credit and debit cards, electronic bank transfers ( EFT/ACH ), and digital wallets. It then sends an approval or denial response back through the card network to the payment processor.

Process 45

Process Processors Online and Mobile Banking Payments 45

Stax

SEPTEMBER 17, 2024

Simply put, a payment gateway is a solution that securely reads and transfers a customer’s payment information to a merchant’s bank account—both for online and in-person transactions. These may include credit cards, debit cards, eChecks, and digital wallets (like Google Pay, Apple Pay, Amazon Pay, PayPal, Venmo, etc.).

Payment Gateways 88

Payment Gateways Gateways Payment APIs and Integration Online and Mobile Banking 88

Clearly Payments

MARCH 18, 2024

According to the Federal Reserve’s Diary of Consumer Payment Choice, Gen Xers use debit cards for 32% of their transactions, which is more than Millennials at 22%. They still use credit cards too, for about 26% of their transactions. Cash usage dips to around 13%.

Credit Cards 105

Credit Cards Federal Reserve FedNow Online and Mobile Banking 105

PYMNTS

APRIL 1, 2020

billion non-prepaid debit card transactions in 2018, solidifying debit as a staple payment type. They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible.

Debit Card 56

Debit Card Electronic Funds Transfer (EFT) Debit Transaction Federal Reserve 56

Stax

JULY 9, 2024

From a consumer’s perspective, that means any transaction that doesn’t need a physical credit card, debit card, prepaid cards, or checks. In most cases, mobile banking apps do not have the capability to transfer money between users that don’t share the same bank account.

Digital Payments 163

Digital Payments Online and Mobile Banking Contactless Payments Payments 163

PYMNTS

JANUARY 17, 2019

Apple Pay, in a move that will let users in Australia skip credit card fees at places that support EFTPOS (electronic funds transfer), now has support for dual-network debit cards, according to reports.

Debit Card 78

Debit Card Funds Transfer Credit Cards Consulting 78

PYMNTS

JUNE 17, 2020

United Arab Emirates-based bank Emirates Islamic , a unit of Emirates NBD, is rolling out debit cards for small- to medium-sized businesses (SMBs) in an effort to accelerate the ability for SMB owners to access capital and manage cash flow.

Commercial Card 67

Commercial Card Returns Debit Card Reconciliation 67

Clearly Payments

MAY 16, 2024

This means that merchants pay a consistent markup regardless of the type of card used by their customers. Whether it’s a standard debit card or a premium credit card, the processor’s fee remains the same, making it a fairer system for the merchant.

Process 105

Process Processors Payments Credit Cards 105

PYMNTS

DECEMBER 12, 2019

In the lawsuit, filed in in the United States District Court for the District of Columbia, PayPal said the CFPB rule that requires disclosure for digital wallets and prepaid debit cards places “unreasonable restrictions” on consumers’ abilities to link certain credit products to PayPal accounts.

CFPB 55

CFPB PayPal Rules Consumer Financial Protection Bureau (CFPB) 55

Clearly Payments

DECEMBER 18, 2023

These digital solutions provide a secure repository for credit cards, debit cards, and loyalty cards, simplifying payments with a tap or swipe. payment landscape: Real-time Payments: Services like Zelle and The Clearing House RTP system are gaining traction for their swift and convenient fund transfers.

Payments Trends 102

Payments Trends Online and Mobile Banking Payment APIs and Integration Contactless Payments 102

PYMNTS

MARCH 12, 2019

In an interview with Karen Webster conducted in tandem with the launch, Ready explained that the Tuesday news comes after PayPal’s success with its Instant Transfer to debit card, which debuted last year and where balances in PayPal accounts can be transferred to debit cards instantly.

Debit Card 76

Debit Card PayPal Real Time Payments Economy 76

Fintech News

MARCH 6, 2024

Minna Bank provides various services such as current and savings accounts, cash withdrawals and deposits via smartphone, a virtual debit card and account-to-account transfer. It also offers various financial services such as debit cards, investment trusts, FX, and neo-bank services. It has over 2.3

Online and Mobile Banking 134

Online and Mobile Banking Debit Card Non-Bank Push-to-Card 134

PYMNTS

JUNE 8, 2020

consumers can pay with their personal bank accounts or their debit or credit cards to fund transfers from their Skrill accounts. After credit and debit cards, such digital wallets have been used by 36 percent of consumers in the last month. .

Debit Card 52

Debit Card Funds Transfer Credit Cards Assessments 52

EBizCharge

MAY 15, 2024

Payment methods commonly used in B2B transactions include bank transfers, checks, electronic funds transfers (EFT) , credit cards, and increasingly digital payment platforms. Payment Authorization: Before the funds are transferred, the payment may undergo authorization processes to ensure security and legitimacy.

B2B 52

B2B Wire Transfer Payments Payment Gateways 52

PYMNTS

SEPTEMBER 13, 2017

In one instance, the CFPB said that an institution told consumers it would waive the fees if certain qualifications were met, including making 10 or more payments from the checking account during a statement cycle when only debit card purchases and debit card payments qualified toward the fee waiver.

CFPB 57

CFPB Consumer Credit Cards Debit Card 57

PYMNTS

MAY 3, 2019

Financial services giant Visa and global remittance firm Remitly recently partnered on a new solution to enable faster cross-border, person-to-person money transfers. to have funds transferred to eligible Visa debit cardholders overseas using the Visa Direct service. The funds are sent in real time.

Cross-Border 65

Cross-Border Debit Card Direct Deposit Instant Payments 65

PYMNTS

APRIL 2, 2019

“A hundred forty-five years after money was first moved by wire transfer using the telegraph, money still travels relatively slowly — a surprise given all of the innovation that surrounds it. The pilot program is slated to debut in the Fall of 2019.

Push-to-Card 80

Push-to-Card Wire Transfer Treasury Economy 80

PYMNTS

JUNE 6, 2019

Those customers, according to the financial publication, are having funds transferred to other Chase accounts, across savings and checking options. Now, Finn users will have to download the Chase app and get a new debit card, though the site noted the account details will not change.

Debit Card 56

Debit Card Funds Transfer ATM Accounts 56

Clearly Payments

NOVEMBER 26, 2023

The most ubiquitous form is credit and debit cards, seamlessly accepted through various channels – be it in-person via mobile card readers, virtual terminals, or securely online through payment gateways. Checks, while traditional, remain a prevalent option, permitting customers to mail payments or settle them in person.

Credit Card Payment Processing 52

Credit Card Payment Processing Credit Cards Process Processors 52

EBizCharge

SEPTEMBER 18, 2024

ACH payments refer to electronic funds transfers (EFTs) between financial institutions using the ACH network. Additionally, ACH payments usually incur lower transaction fees than other payment methods like credit and debit cards. What are ACH payments?

ACH 52

ACH IAT ACH Network Direct Deposit 52

PYMNTS

AUGUST 3, 2016

Early Warning’s clearXchange network will now enable P2P payments between the more than 200 million Visa debit cards in the U.S., including payments to non-Visa branded debit cards as well. Real-time authentication also enables the sender as well as the receiver to instantly validate the status of the payment.

P2P 50

P2P Debit Card ACH Ubiquitous 50

Clearly Payments

DECEMBER 5, 2023

Payment processors play a crucial role in modern commerce by enabling various forms of payment, including credit cards, debit cards, electronic funds transfers, and digital wallets. Acquirers play a pivotal role in authorizing and processing credit and debit card transactions on behalf of merchants.

Processors 52

Processors ISOs Payment APIs and Integration Payments 52

PYMNTS

SEPTEMBER 26, 2016

To prevent overcharging for credit card servicing fees, Assembly Bill 2244 mandates that e-filing managers must provide other forms of payment and document any e-filing expenses.

Credit Cards 59

Credit Cards Caps Debit Card Funds Transfer 59

Nanonets

APRIL 18, 2023

In this article, we’ll provide a detailed look at how ACH payments work , why they’re better than checks or cards, and how to get started with ACH. ACH payments are electronic fund transfers used to move money between bank accounts in the United States. How do ACH payments work?

ACH 52

ACH ACH Network Payments Best Practices 52

PYMNTS

FEBRUARY 25, 2020

In their announcement, Rapyd said it will wield Visa’s platform Visa Direct to facilitate real-time fund transfers to gig workers, for example. Their partnership will also bridge Rapyd to Visa’s card network, enabling the issuance of virtual Visa cards for gig workers to make purchases on behalf of their employers.

Cross-Border Payments 56

Cross-Border Payments Cross-Border SWIFT Debit Network 56

EBizCharge

JULY 3, 2024

Payment options may include credit/debit cards, bank transfers, or other payment methods facilitated by the third-party billing company, which often enables no-fee credit card processing for the customer. Payment Collection: The customer pays the invoice.

Regulatory Compliance 52

Regulatory Compliance Due Diligence Process Compliance 52

Clearly Payments

SEPTEMBER 16, 2024

Contactless Cards Percentage of Transactions : Contactless cards account for the majority of contactless payments globally. In regions like Europe and Australia, contactless card payments represent over 60-70% of total card-based transactions.

Contactless Payments 52

Contactless Payments Push-to-Card Payments Transactions 52

EBizCharge

JULY 23, 2024

Here are five returned check prevention strategies your business can implement: Preauthorized debit arrangements: Encouraging customers to set up automatic payments via direct deposit minimizes the likelihood of checks bouncing and, consequently, returned check fees. This includes checks, debit card purchases, and any automatic withdrawals.

Returns 52

Returns Checks Electronic Funds Transfer (EFT) Direct Deposit 52

PYMNTS

OCTOBER 24, 2017

The company announced that going forward, borrowers using OnDeck’s SMB lending marketplace will be able to collect their funds via their debit cards in real time. the borrower can key in their business debit card number at 1:01 p.m. – With Ingo Money’s solution, if a loan is approved on OnDeck at 1 p.m.,

Debit Card 40

Debit Card Push-to-Card Same Day ACH Small Business 40

Fi911

JANUARY 4, 2024

The Electronic Fund Transfer Act (EFTA) Enacted in 1978, EFTA regulates bank responses to consumer complaints and sets liability limits for lost or stolen debit cards. It was a response to emerging technologies like ATMs, electronic POS terminals, and remote banking.

Disputes 82

Disputes Laws Rules Government 82

FICO

NOVEMBER 10, 2020

Many of the world’s leading banks and card issuers trust our Falcon Platform , which protects more than two-thirds of the world’s credit card and debit card transactions from fraud, as well as other forms or real-time payments and consumer banking funds transfers.

Credit Cards 98

Credit Cards Consumer Card Issuer Issuers 98

FICO

FEBRUARY 17, 2023

All I really think I need is an ID holder for my driver’s license, since I’ve migrated most other payments options like my debit card and credit cards to my digital wallet (AKA my smartphone). While digital wallets make instant fund transfers easy, they also open the door to potential scams.

Online and Mobile Banking 52

Online and Mobile Banking Scams Debit Card Risk 52

M2P Fintech

JANUARY 31, 2024

It verifies transactions, calculates fees, and records all financial movements that encompass d eposits, withdrawals, fund transfers, and bill payments. This crucial component guarantees streamlined FI o perations.

Fraud Detection 59

Fraud Detection CRM Regulatory Compliance Compliance 59