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 111

Payment APIs and Integration Debit Card Funds Transfer API 111

Payment Savvy

NOVEMBER 9, 2022

An Electronic Funds Transfer (EFT) is the movement of money electronically from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems. These can include using a credit or debit card, an electronic check, or an ACH (Automated Clearing House) transfer.

Online and Mobile Banking 98

Online and Mobile Banking Wire Transfer Direct Deposit ACH 98

Fintech Finance

OCTOBER 21, 2024

Over the past year, Wise Platform has enabled partners to provide multi-currency accounts and issue debit cards, making it easier for customers to send, spend, and receive money internationally. This reflects the increasing trust financial institutions have in Wise’s growing service offerings.

Cross-Border 98

Cross-Border Global Payments Cross-Border Payments Multi-Currency 98

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.

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Debit Card Funds Transfer Credit Cards Consulting 78

Fintech Finance

NOVEMBER 14, 2024

Across the Sift Global Data Network, credit and debit cards account for 85% of fraudulent transactions. For example, in iGaming & Online Gambling, the use of credit and debit cards drops to 64%, with electronic fund transfers (20.5%) and digital wallet payments (15.5%) comprising the remaining mix of fraudulent payments.

Funds Transfer 52

Funds Transfer Debit Card Fraud Prevention Blocks 52

Fintech Finance

SEPTEMBER 4, 2024

Saldo Bank’s credit decisions are made in real time, allowing for fully automated card issuance. Enfuce is delivering over 60,000 custom-built open-loop Visa credit and debit cards, physical and virtual, and tokenised, offering Saldo Bank’s growing Finnish customer base a new streamlined way to use credit directly on card payments.

Product 97

Product Credit Cards Debit Card Payments 97

Payment Savvy

NOVEMBER 8, 2022

An EFT, or rather an Electronic Funds Transfer, is a type of digital payment between banks or banking institutions of a very broad description and is used by private individuals and businesses alike. Using your debit card to buy groceries or withdraw cash from an ATM is technically an EFT in the broader sense.

ACH 98

ACH Payments Debit Card Online and Mobile Banking 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

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

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

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

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 136

Online and Mobile Banking Debit Card Non-Bank Push-to-Card 136

Innovative Payments Association

JULY 8, 2024

Regulation E, also known as the Electronic Fund Transfer Act, is a federal regulation that governs electronic transfers of funds, such as ATM transactions, debit card transactions, and direct deposits. Employees should be knowledgeable about their responsibilities under Regulation E.

Reg E 52

Reg E CFPB Error Resolution Boot Camp 52

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.

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Push-to-Card Wire Transfer Treasury Economy 80

Clearly Payments

JANUARY 25, 2024

Digital Only Banks or Neobanks The emergence of digital-only banks injects competition, propelling the use of debit cards and credit cards, impacting the overall payment processing market. of businesses are embracing Electronic Funds Transfers (EFT) as their second most popular choice. using credit cards.

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Process Online and Mobile Banking Electronic Funds Transfer (EFT) Digital Currency 98

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

Stax

APRIL 30, 2024

This account is used by banks to temporarily hold funds from credit or debit card payments or other electronic transactions. Once the bank verifies and approves the payment, the funds are transferred from the merchant account to your business account. Quick fund transfers as early as 24 hours.

Process 88

Process Online and Mobile Banking PCI DSS Debit Card 88

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.

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Commercial Card Returns Debit Card Reconciliation 67

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

Stax

DECEMBER 27, 2023

This includes credit card payments, debit cards, and other payment options that require a merchant account to process payments, such as eChecks and ACH. These accounts enable businesses to process card and debit card payments via mobile card readers or contactless devices.

Accounts 88

Accounts Online and Mobile Banking Payment Gateways PCI DSS 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

Stax

NOVEMBER 11, 2024

They are an additional type of payment you can take along with debit card transactions and credit card payments from card networks like Mastercard, Visa, American Express, and Discover. Lower processing fees Compared to other payment methods like credit and debit cards, an ACH payment is far less expensive.

ACH 88

ACH Checks Identity Theft Payments 88

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

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

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

Stax

SEPTEMBER 24, 2024

TL;DR A cash discount program is when a business offers its customers incentives to pay using cash for a product or service instead of a credit or debit card. A cash discount program is when a business offers its customers incentives to pay using cash for a product or service instead of a credit or debit card.

Credit Cards 88

Credit Cards Electronic Fund Transfer Act (EFTA) Push-to-Card Debit Card 88

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 59

Process Processors Online and Mobile Banking Payments 59

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

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

Finovate

OCTOBER 11, 2024

The partnership makes the bank the first Hong Kong-based customer of Worldline’s open platform card solution, Paysuite Essential Edition. Previously called “Cardlite,” the solution will enable BOCHK to enhance the customer experience with new offerings, including its multi-currency Mastercard debit card.

Multi-Currency 104

Multi-Currency Stablecoins Visa Cross-Border Payments 104

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.

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Process Processors Payments Credit Cards 94

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 PayPal 52

EBizCharge

NOVEMBER 12, 2024

A merchant account is a business bank account that allows companies to accept payments, such as debit and credit card transactions, electronic funds transfers (EFTs), and Automated Clearing House (ACH) payments. What is a merchant account?

Accounts 52

Accounts Online and Mobile Banking MSPS Debit Card 52

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

EBizCharge

APRIL 25, 2024

Wire transfers and electronic funds transfers have been staples of financial transactions for decades, but various electronic transfer methods have emerged with the innovation in banking technology. What is an electronic funds transfer (EFT)?

Wire Transfer 52

Wire Transfer Wire Wires Electronic Funds Transfer (EFT) 52

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

PYMNTS

OCTOBER 5, 2016

The cards are largely associated with the 10 million or so unbanked families in the U.S. as one of their primary tools of financial management — since prepaid cards can be used in ways essentially analogous to debit cards for payments, funds storage, cash-outs at ATMs or receipt of salary.

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CFPB Rules PayPal Debit Card 75