PYMNTS

MARCH 26, 2020

As reported, those Americans with direct deposit account information stored with the Internal Revenue Service (IRS) — the conduit through which they get refunds — will get those payments within a few weeks after legislation is finalized and signed. That’s about 70 million Americans.

Checks 100

Checks Push-to-Card Direct Deposit IRS 100

PYMNTS

JULY 6, 2020

On Monday (June 6), Square stocks soared 13 percent after an analyst suggested the firm could eventually claim as much as 20 percent of direct deposit accounts in the U.S., Bloomberg reported.

Online and Mobile Banking 60

Online and Mobile Banking Direct Deposit Deposit Account Digital Payments 60

PYMNTS

APRIL 7, 2020

The digital payments platform of Galileo provides savings and checking account-like abilities through its open application programming interfaces (APIs). The APIs of Galileo fuel functions including direct deposit, account setup, funding and check balance, among other features.

Technology 60

Technology Direct Deposit Deposit Account API 60

PYMNTS

MAY 9, 2018

Direct deposits, new products and tax refunds helped Green Dot beat revenue expectations for the first quarter of 2018. Direct deposit served as an even bigger champion for Green Dot in the first quarter of 2018, Streit said on the call. That surpassed Wall Street expectations of about $297 million.

Tax Refunds 40

Tax Refunds Direct Deposit Deposit Account Volume 40

PYMNTS

JANUARY 18, 2019

“Unlike traditional [business email compromise (BEC)] attacks, which are starting to raise red flags with financial institutions, payroll diversion attacks eliminate the interaction with banks because it is a direct deposit instead of a wire transfer,” said Crane Hassold, senior director of threat research at the firm.

Business Email Compromise 69

Business Email Compromise Scams Audit Payroll 69

PYMNTS

OCTOBER 24, 2016

In a press release , the company said the Visa Direct platform has the ability to transfer funds within minutes to more than 200 million Visa debit cards in the United States. Funds are transferred into the recipient’s account linked to a debit card without the need for deposit account number or bank routing code details.

Debit Card 70

Debit Card Payee Near Real-Time Push-to-Card 70

PYMNTS

APRIL 16, 2020

Goldman’s Marcus registered a $12 billion boost in deposits, and the tally was $72 billion at the quarter’s conclusion. Walmart To Customers: Get Stimulus Check Deposited In MoneyCard Account. The retail company said the process would be easy, safe and affordable.

Cross-Border 60

Cross-Border Direct Deposit Deposit Account Payments 60

PYMNTS

APRIL 17, 2017

Same-day direct deposits accounted for more than half of that Same Day ACH volume, with B2B payments making up a third. And it is this versatility that makes ACH payments a valued payment type and supports the continued growth of the ACH network.

Same Day ACH 40

Same Day ACH NACHA ACH ACH Network 40

PYMNTS

JULY 30, 2019

What MoneyLion is designed to do is offer a mobile financial services platform that combines deposit accounts with low dollar lending, investing and wealth management services. The platform also allows users to connect all their bank accounts and credit cards and receive personalized advice on how to better spend their money.

Consumer 76

Consumer Financial Literacy ATM FDIC 76

PYMNTS

DECEMBER 13, 2017

The claim, then, can be, if using direct deposit with a given FI, recipients will get their money by a certain time. The urgency is especially transparent with the gig economy, he said, “where people want to get paid by direct deposit”; and so, same-day payroll in that environment makes sense.

Same Day ACH 40

Same Day ACH ACH NACHA Payroll 40

PYMNTS

OCTOBER 30, 2020

Using the RTP network can be simpler and more compelling for some types of businesses, such as those already accustomed to delivering payroll via ACH direct deposit. Fifty-six percent of demand deposit accounts in the U.S. are connected to the network at present, and more are expected to join over time.

Faster Payments 59

Faster Payments Payments Tools RTP Same Day ACH 59

PYMNTS

APRIL 15, 2019

HR departments need be on the alert for a new type of phishing scam that asks for reroutes on direct deposit accounts, CNBC reported. To move employee paychecks directly into a criminal’s account.

Money Laundering 51

Money Laundering Wire Wires Identity Theft 51

PYMNTS

FEBRUARY 13, 2020

Profitability remains elusive in the Neobank model — which touts 5 million users, but has yet to see heavy transaction activity across direct deposit accounts. “And they’re doing an amazing job of rethinking experience, but it’s not just about experience. Trust still matters.”.

Online and Mobile Banking 92

Online and Mobile Banking Venmo Direct Deposit Deposit Account 92

PYMNTS

JUNE 10, 2019

Such cross-pollination may mean that a FinTech wants to be able to issue a prepaid card, or is eyeing the ability to create direct deposit accounts down the line. “When push comes to shove, these parties are left having to assemble a lot of capabilities from a whole spectrum of the ecosystem.”.

Processors 70

Processors Issuers API Push-to-Card 70

PYMNTS

JUNE 16, 2016

Britt said he has seen evidence of this firsthand, noting that the average Chime direct deposit user logs onto the app to check their balance on a daily basis. Most also do not send purchase and deposit alerts, he added. Many major financial institutions don’t allow their customers to do that, he said.

Mobile Banking 42

Mobile Banking Direct Deposit Deposit Account Credit Cards 42

PYMNTS

APRIL 10, 2020

Galileo provides savings and checking account-like abilities through its open application programming interfaces (APIs) that can be accessed by mobile or desktop. Direct deposit, account setup, funding and check balance are some of the services they offer, among other features. billion composed of shares and cash.

Payments 68

Payments Consumer Direct Deposit Deposit Account 68

Nanonets

MARCH 27, 2024

QuickBooks Money, is a wide-ranging banking solution that includes interest-bearing deposit accounts, payments, and invoicing – essentially a one-stop shop tailored toward B2B transactions.      Optical character recognition to manage manual and paper documents.

International Payments 52

International Payments Wire Transfer Cross-Border Wires 52

FICO

OCTOBER 4, 2021

Data & Analytics: Define a broad range of input sources available for collections specific decisioning including collections activity data, account performance from initial entry to a past due state, collections transactional data, and relevant alternative data sources.

Facilitators 52

Facilitators Risk Direct Deposit Deposit Account 52

PYMNTS

JULY 3, 2017

now processing more than 24 billion Direct Deposit and Direct Payment transactions annually – a total of more than $41 trillion. Sullivan said the Act contained a provision that would restrict a regulator from ordering a deposit account to be closed without stating a material reason in writing.

NACHA 45

NACHA Faster Payments Same Day ACH ACH 45

FICO

JANUARY 26, 2022

Data & Analytics: Define a broad range of input sources available for collections specific decisioning including collections activity data, account performance from initial entry to a past due state, collections transactional data, and relevant alternative data sources.

Posting 52

Posting Consumer Financial Protection Bureau (CFPB) CFPB Governance 52