Payments Dive

APRIL 2, 2019

Millions of Chinese consumers are using mobile payments as their favored method shopping and funds transfer and retailers should leverage that opportunity.

Mobile Payments 151

Mobile Payments Consumer Funds Transfer Payments 151

EBizCharge

JUNE 3, 2024

With the introduction of electronic funds transfers (EFTs), gone are the days of paper checks and manual money handling. What is an electronic funds transfer (EFT)? An electronic funds transfer , or EFT, is a core pillar of modern banking and transactions. What is the Electronic Funds Transfer Act (EFTA)?

Funds Transfer 52

Funds Transfer Electronic Fund Transfer Act (EFTA) Electronic Funds Transfer (EFT) Wire Transfer 52

Payments Dive

OCTOBER 31, 2022

Elizabeth Warren told the Consumer Financial Protection Bureau that it should amend Regulation E of the Electronic Fund Transfer Act “to increase consumer protection.”

Zelle 131

Zelle CFPB Funds Transfer Consumer Protection 131

Fintech Finance

FEBRUARY 29, 2024

Nium , the leader in real-time cross-border payments, announced today that it is the first non-Japanese company to have secured a Type 1 Funds Transfer Service Provider (FTSP) license from the Japanese Financial Services Agency (JFSA).

Funds Transfer 52

Funds Transfer Cross-Border Cross-Border Payments Security 52

The Paypers

APRIL 5, 2024

Xoom , PayPal's cross-border money transfer service, now allows US users to fund transfers abroad using USD converted from the PayPal USD (PYUSD) stablecoin.

Funds Transfer 36

Funds Transfer Stablecoins Cross-Border PayPal 36

Fintech News

MARCH 18, 2024

With this new connection, Mastercard is pleased to expand its partnership with Alipay to enable people around the world to easily make international fund transfers to China in near real-time, simplifying the transaction for senders as well as receivers.”

Visa 118

Visa Cross-Border Cross-Border Payments Security 118

Finovate

DECEMBER 2, 2024

based international funds transfer company Atlantic Money. Payroll and compliance company Deel has acquired international funds transfer company Atlantic Money. Payroll and compliance company Deel has acquired international funds transfer company Atlantic Money. Deel has acquired U.K.-based

Acquirers 72

Acquirers Funds Transfer Payroll Facilitators 72

PYMNTS

JUNE 21, 2020

The service will let businesses incorporate the instant electronic Direct Debit Authorisation (eDDA) into their own systems, along with real-time funds transfer services.

API 143

API B2B Cash Management Funds Transfer 143

Fintech News

FEBRUARY 28, 2024

Global payments platform Nium announced that it has secured a payments license to conduct higher-value financial transactions from Japan’s Financial Services Agency (JFSA).

Regulations 123

Regulations Non-Bank Funds Transfer Transactions 123

PYMNTS

JANUARY 11, 2021

Electronic-fund-transfer systems are much more easily tracked. Another reason was that stricter limits on border crossings compelled workers who typically would ferry cash home personally to instead send it electronically.

Cross-Border 125

Cross-Border Funds Transfer Central Bank Economy 125

PYMNTS

MAY 19, 2020

Nium, formerly known as InstaReM, has closed four funding rounds totaling $59 million since it was founded in 2014. Silawat Santivisat, KBank senior executive vice president, said the funds transfer service is meant to address the challenges of the “new normal” brought on by the COVID-19 crisis.

Cross-Border Payments 97

Cross-Border Payments Cross-Border FinTech Funds Transfer 97

Fintech News

AUGUST 5, 2024

The new CNY remittance corridor by YouBiz aims to streamline fund transfers from Singapore to China, offering a cheaper, more secure, and convenient alternative to traditional methods. This move addresses the growing need for efficient and cost-effective cross-border transactions between Singapore and China.

Multi-Currency 110

Multi-Currency Cross-Border Payments Cross-Border Funds Transfer 110

Fintech News

MARCH 4, 2024

Wise entered the Indonesian market in 2020 and is backed by its local entity, PT Wise Payments Indonesia, licensed by Bank Indonesia as a Fund Transfer Provider. .” Ciptono also emphasised the company’s commitment to reintroducing and expanding services for Indonesian users in the future.

Payment APIs and Integration 113

Payment APIs and Integration Debit Card Funds Transfer API 113

Finextra

AUGUST 30, 2024

For the second time in three months, the NatWest banking app has suffered technical issues, leaving some customers unable to make payments or fund transfers on Friday morning.

Funds Transfer 72

Funds Transfer Payments 72

Finextra

DECEMBER 12, 2024

Visa Direct will soon ensure that funds transferred to US bank accounts will be available within a minute or less.

Funds Transfer 59

Funds Transfer Accounts 59

Fintech News

APRIL 22, 2024

In 2024, Nium secured a Funds Transfer Service Provider license in Japan , two distinct licenses from the Reserve Bank of India , and a registration in New Zealand. In Thailand, Nium’s platform is utilised by four of the country’s leading banks: Kasikorn Bank, Krungsri (Bank of Ayudhya), Krungthai Bank, and Siam Commercial Bank.

Cross-Border Payments 117

Cross-Border Payments Cross-Border APACS Funds Transfer 117

Fintech News

JANUARY 31, 2024

This collaboration comes as a solution for consumers affected by a recent ban on fund transfers to China through non-bank and non-card channels. Singapore’s payment service provider AXS has announced a new partnership with fintech company Aleta Planet to offer remittance services to China.

Money Laundering 109

Money Laundering Cross-Border Non-Bank Funds Transfer 109

Fintech News

JULY 14, 2024

This initiative will enhance the efficiency and speed of online cross-border payments and fund transfers within the SEPA Zone. BNP Paribas will sponsor WorldFirst’s integration into SEPA, allowing WorldFirst’s clients to access real-time payment schemes under SEPA and automate treasury payments.

Cross-Border Payments 123

Cross-Border Payments Cross-Border Treasury Management Treasury 123

The Paypers

SEPTEMBER 3, 2024

UK-based fintech company Atlantic Money has announced the launch of Portals, a new solution that enables customers to make international transfers directly from their bank accounts.

Funds Transfer 41

Funds Transfer Accounts FinTech 41

The Paypers

APRIL 12, 2021

Morgan has announced it will be using blockchain technology to improve its funds transfers solutions for banking institutions globally. US-based financial services firm J.P.

Blockchain 74

Blockchain Funds Transfer Technology 74

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 News

APRIL 15, 2024

Nium secured a Type 1 Funds Transfer Service Provider license in Japan , while in India , it obtained a Prepaid Payment Instrument license and a Payment Aggregator license, both issued by the Reserve Bank of India.

Continuity 109

Continuity Cross-Border Payments Cross-Border Funds Transfer 109

Fintech Finance

DECEMBER 12, 2024

Visa , a global leader in digital payments, today announced that with Visa Direct, funds transferred to U.S. Consumers, businesses, and governments can use Visa Direct to deposit funds to bank accounts linked to eligible debit cards in real-time1. bank accounts will be available within 1 minute or less starting in April 2025.

Funds Availability 87

Funds Availability FPC Accounts Debit Card 87

PYMNTS

JULY 29, 2020

SWIFT is the world’s largest electronic payment messaging network, although it does not itself do any of the funds transfers. In theory, this would help protect China’s global payments data from possible U.S.

ISO 20022 116

ISO 20022 SWIFT Cross-Border ISOs 116

Fintech Finance

OCTOBER 1, 2024

As a Marketplace Partner, Neural Payments will be able to integrate its flagship white-label peer-to-peer (P2P) payments platform and other payments solutions into the ebankIT platform to enhance client financial institutions’ digital offerings, making payments and funds transfers easier, faster and more secure and flexible.

P2P 98

P2P Payments Funds Transfer Payment Solutions 98

PYMNTS

JUNE 23, 2020

Business clients of HSBC Hong Kong can integrate instant electronic Direct Debit Authorization (eDDA) within their own systems to support real-time funds transfer, the bank said, without requiring those businesses to separately log in to their banking portals and set up direct debit instructions.

Federal Reserve 106

Federal Reserve RTP Payment APIs and Integration Fed 106

Finextra

JUNE 2, 2024

A legal case involving how Citi responded to customers who had money stolen via wire transfers has caused a spat between the CFPB and industry associations over the scope of the Electronic Fund Transfer Act (EFTA).

Electronic Fund Transfer Act (EFTA) 64

Electronic Fund Transfer Act (EFTA) CFPB Wire Transfer Disputes 64

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. Q: Are EFT payments safe?

Electronic Fund Transfer Act (EFTA) 88

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

PYMNTS

APRIL 13, 2020

In some of those cases, the faster option might be a fresh prepaid account through which the intended funds can be disbursed. However, the Electronic Fund Transfer Act (EFTA) prevents that from happening, not letting banks require people to sign up for accounts just to receive government benefits.

Electronic Fund Transfer Act (EFTA) 111

Electronic Fund Transfer Act (EFTA) CFPB Consumer Financial Protection Bureau (CFPB) Direct Deposit 111

Payments Source

JANUARY 21, 2021

Digital financial services platform Wari is working with Lycaremit to add low-cost fund transfers across Europe, Africa and the Middle East to its network.

Cross-Border Payments 67

Cross-Border Payments Cross-Border Funds Transfer Payments 67

Fintech News

NOVEMBER 5, 2024

Edward Yue, General Manager for Southeast Asia, Australia, and New Zealand at Ant International, noted that the partnership with StraitsX and Grab aims to provide global travelers with more convenient payment options and supports more efficient, secure, and cost-effective fund transfers.

Stablecoins 108

Stablecoins Cross-Border Payments Cross-Border Blockchain 108

PYMNTS

NOVEMBER 18, 2020

Licensed and regulated in each country where it does business, Veem said it strives to reduce risks associated with global funds transfers. . Veem recently closed a $31 million funding round led by Truist Ventures.

B2B 109

B2B Payments Funds Transfer Small Business 109

Fintech Finance

JULY 11, 2024

Pix was developed to combat the challenges created by traditional fund transfer methods offered by Brazil’s banking sector which incurred high transfer fees, were limited by settlement time and restricted to ‘working day’ operational hours.

Instant Payments 98

Instant Payments Embedded Finance Real Time Payments Payments 98

Global Fintech & Digital Assets

DECEMBER 18, 2023

General use would therefore encompass most forms of person-to-person (P2P) and consumer-merchant fund transfers by or on behalf of a consumer to another US-based person for personal, family, or household purposes. Importantly, the proposal specifically states that the covered person does not actually need to ever hold the funds.

CFPB 75

CFPB Regulations Consumer Financial Protection Bureau (CFPB) Non-Bank 75

Fintech Finance

JULY 9, 2024

.” Enabling wire capabilities benefit end users in several ways: Fast Transactions: Recipients receive their funds on the same day they’re sent. Enhanced Security: Each transaction undergoes rigorous validation processes, ensuring the safety and integrity of the funds transferred.

Wire Transfer 97

Wire Transfer Wire Wires FedWire 97

Fintech Finance

NOVEMBER 14, 2024

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

Finextra

NOVEMBER 26, 2024

We are thrilled to announce that Kyú Reion, an innovator in cross-border fintech, has partnered with Netbank to accelerate cross-border fund transfers and make them more accessible for individual users through a smartphone app.

Cross-Border 52

Cross-Border Cross-Border Payments Funds Transfer Innovation 52