Blockchain payment network Zone raises $8.5 million
Finextra
MARCH 18, 2024
African blockchain payment network, Zone, has raised $8.5 million in an oversubscribed seed funding round led by VC firms Flourish Ventures and TLcom Capital.
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Podcast: JPM connects to French payments network Cartes Bancaires
Bank Automation
AUGUST 20, 2024
Morgan is joining French payments network Cartes Bancaires, Mike Lozanoff, managing director and global head of merchant services at J.P. The bank is tapping cloud-based Renovite to build the connection to the network, Lozanoff says. Morgan, tells Bank Automation News on this episode of “The Buzz” podcast.
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AMINA Bank Launches the AMINA Payments Network (APN)
Fintech Finance
JUNE 20, 2024
AMINA Bank , a licensed and FINMA-regulated digital assets bank, has today announced the launch of the AMINA Payment Network (APN). Designed to address the needs of the crypto banking world, APN helps to facilitate real-time payments to other APN members. Members must have an AMINA current account to access the network.
Billtrust Teams Up With Visa to Extend Business Payments Network (BPN) Collaboration
Fintech Finance
JULY 11, 2024
Billtrust , a B2B order-to-cash and digital payments market leader, announced that it has extended its collaboration with Visa, a world leader in digital payments, to support its Business Payments Network (BPN).
Introducing: the human-powered payments network
The Payments Association
NOVEMBER 22, 2023
So we’ve built a brand that champions not just our global network, leading-edge tech and 15 years’ of proven delivery, but the human brilliance, partnership and passionate people that sit at the centre of it all. Introducing the human-powered payments network. Because together, we make money move. -
Nium Enables Financial Institutions to Connect to Its Real-Time Payments Network via Swift
Fintech Finance
OCTOBER 21, 2024
Nium , the leading global infrastructure for real-time cross-border payments, today announced that financial institutions can now leverage Swift capabilities and their existing Swift infrastructure to connect to Nium’s global real-time payments network. For more information on how to connect to Nium via Swift, visit here.
UK Banks Urged to Act Now Ahead of New Cross-Border Payments Legislation ISO 20022 to Prevent Exclusion from International Payment Networks
Fintech Finance
APRIL 24, 2024
The post UK Banks Urged to Act Now Ahead of New Cross-Border Payments Legislation ISO 20022 to Prevent Exclusion from International Payment Networks appeared first on Fintech Finance.
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Flywire Acquires Invoiced to Bolster its Global B2B Payment Network with Award-Winning Accounts Receivable SaaS Platform
Fintech Finance
AUGUST 6, 2024
The post Flywire Acquires Invoiced to Bolster its Global B2B Payment Network with Award-Winning Accounts Receivable SaaS Platform appeared first on FF News | Fintech Finance. More details will be shared on the upcoming earnings call scheduled for August 6, 2024.
Car IQ links with PDI to expand c-store payment network
Payments Dive
JUNE 29, 2023
The partnership will make vehicle-recognition payments for fleet owners available to more retailers across the country.
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Fed seeks 8,000 financial institutions for FedNow
Payments Dive
APRIL 25, 2024
About 700 financial institutions have connected to the Fed’s instant payment network since last July, with at least 1,000 more in the pipeline, a FedNow official said this week.
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Open Payment Network acquires ExcheQ instant payment app
Finextra
DECEMBER 19, 2024
Open Payment Network today announced that it has acquired ExcheQ, a payment application from North American Banking Company (NABC) that gives financial institutions an easy to use instant payment app to offer their customers.
JP Morgan joins French payments network Cartes Bancaires
Finextra
MARCH 5, 2024
JP Morgan is joining Cartes Bancaires (CB), enabling its merchant clients to process card payments via the French network rather than Visa or Mastercard.
Universal Digital Payments Network (UDPN) and FORUS Digital Announce Strategic Cooperation to Advance Financial Innovation in Africa
Fintech Finance
NOVEMBER 21, 2024
By providing African governments and financial institutions with blockchain-driven tools, UDPN will support enabling an inclusive, scalable digital payments system for the African continent.
Bank CEOs defend Zelle in Senate hearing
Payments Dive
SEPTEMBER 23, 2022
Elizabeth Warren called the peer-to-peer payments network “unsafe,” claiming Zelle users were defrauded out of $500 million last year.
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Bank-backed DLT-based payments network Partior raises $60m
Finextra
JULY 14, 2024
Partior, the bank-backed fintech behind a global unified ledger-based interbank rails for real-time clearing and settlement, has raised $60 million in Series B funding.
UDPN launches digital currency sandbox
Finextra
MARCH 18, 2024
The Universal Digital Payments Network (UDPN) has launched a digital currency sandbox for both commercial and central banks.
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Interledger Foundation foots bill for fintechs to build global interoperability network
Finextra
MAY 29, 2024
The Interledger Foundation, an organisation dedicated to the creation of an open, interoperable payment network, is promising to fund fintechs that use its protocol to bring payments to emerging markets and underserved populations.
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Turkey's Papara joins Thunes cross-border payments network
Finextra
NOVEMBER 11, 2024
Thunes, the Smart Superhighway to move money around the world, today welcomed Papara, Türkiye’s leading fintech company, as a new Member of its Direct Global Network, and allies to facilitate cross-border payments to and from Türkiye.
FedNow may have spurred RTP adoption
Payments Dive
DECEMBER 13, 2023
The number of banks participating in The Clearing House’s real-time payments network surged this year after the launch of the rival FedNow system.
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Thailand-India QR Payment Link to Launch by Q3 2024
Fintech News
MAY 5, 2024
Announced by Dr Daranee Saeju, Assistant Governor, Payment Systems Policy and Financial Consumer Protection Group, Bank of Thailand at the recent Money20/20 Asia event in Bangkok, this move aims to enhance the speed and security of international transactions.
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Nium Offers Swift Connectivity for Faster Cross-Border Payments
Fintech News
OCTOBER 20, 2024
Nium, a global payments infrastructure provider, announced that financial institutions can now connect to its real-time payments network using their existing Swift infrastructure. This eliminates the need for complex and costly API integrations, making cross-border payments faster and more affordable.
Satispay Partners with Stripe to Offer the Most Versatile and User-Friendly Payment Solution for Businesses and Consumers in Italy
Fintech Finance
SEPTEMBER 5, 2024
Satispay , the leading independent mobile payment network in Italy, today announced a strategic partnership with Stripe , a financial infrastructure platform for businesses, in order to eliminate the barriers in online digital shopping experience for Italian merchants and consumers.
ACI moves real-time payments onboarding to cloud
Bank Automation
APRIL 4, 2024
ACI Worldwide is exploring the use of its cloud platform to onboard bank clients to The Clearing House’s Real-Time Payments network.
HitPay Rolls Out Mass Payout Services in Singapore, Malaysia, and the Philippines
Fintech News
DECEMBER 10, 2023
It supports various payment networks such as FAST in Singapore, RTGS in Malaysia, and InstaPay and PESONet in the Philippines. In 2024, HitPay plans to extend its services to include domestic payouts in Indonesia, Thailand, Vietnam, and Australia and global cross-border payouts using various payment networks and channels.
Coupa and Bottomline simplify business payments
Finextra
APRIL 22, 2024
Coupa, the margin multiplier company, and Bottomline, a global leader in business payments, announced a strategic partnership to simplify and optimize payment processes for businesses. Coupa can now connect to Paymode-X, Bottomline’s business payments network that offers Premium ACH, to automate payments from buyers to suppliers.
Demystifying Credit Card Interchange Fees: What You Need to Know [2024 Rates and Updates]
Stax
DECEMBER 20, 2023
Understanding the concept of interchange fees is crucial for businesses looking to optimize their payment processing costs. These fees are set by the payment networks and are typically expressed as a percentage of the transaction value or as a fixed amount per transaction. Interchange fees are simply a cost of doing business.
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PayPal Ventures Leads Ume’s $15 Million Series A Funding Round
Fintech Finance
SEPTEMBER 5, 2024
Ume , a payment network and merchant services platform for small- and mid-sized businesses (SMBs) on Pix, has announced it has raised $ 15 million in Series A equity funding. The round was led by PayPal Ventures, with participation from NFX, Globo Ventures, Clocktower Ventures, Big Bets, FJ Labs, Endeavor and Norte Ventures.
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AI helps Klarna cut marketing agency spend by 25% and run more campaigns
Finextra
JUNE 4, 2024
Klarna, the AI powered global payments network and shopping assistant, has cut its sales and marketing spend by 11% in Q1 2024 while increasing the number of campaigns and updating marketing collateral more frequently.
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Orum uses FedNow to launch account verification tool
Payments Dive
OCTOBER 10, 2023
The service, built on top of the Fed’s instant payments network, allows customers to verify a bank account within 15 seconds before sending a payment, Orum said.
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TerraPay partners with Diamond Trust Bank Uganda
Finextra
FEBRUARY 23, 2024
TerraPay, a leading global cross-border payments network company, and Diamond Trust Bank Uganda (DTBU), a prominent member of the Diamond Trust Bank Group, today, announced a strategic partnership to expand international money transfers and strengthen financial inclusion in Uganda.
The Clearing House raises RTP transaction limit to $10M
Bank Automation
DECEMBER 6, 2024
The Clearing House raised the transaction limit on its Real Time Payments network to $10 million, opening the door for new uses of the rail for commercial transactions.
Klarna becomes official Apple reseller
Finextra
OCTOBER 2, 2024
Klarna, the AI-powered global payments network and shopping assistant, has unveiled “Apple from Klarna”, a storefront in the Klarna app and Klarna.com where customers can purchase Apple products using its flexible payment options.
Zilch Surges to Profitability, Surpasses $130M in Revenue, and Welcomes Mark Wilson to the Board
Fintech Finance
SEPTEMBER 3, 2024
Zilch , the world’s first ad-subsidised payments network (ASPN), today announced its first month of operating profit while surpassing a revenue run rate of more than $130m (£100m). The business has reached these milestones within just four years of launching its groundbreaking consumer payment platform.
Universal Digital Payments Network and Forus Digital co-operate on CBDC testing environment
Finextra
NOVEMBER 21, 2024
In Sub-Saharan Africa, approximately 105 million adults are unbanked and lack proper identification documents.
Standard Chartered Joins Forces With Visa to Enhance Cross-Border Payments
Fintech Finance
APRIL 24, 2024
Standard Chartered today announced that it has joined Visa B2B Connect, a multilateral payment network that enables faster and frictionless account-to-account cross-border payments for its corporate clients. We will join as a participant bank and as Visa’s new settlement partner for a set of currencies.
FedNow overtakes TCH in adoption
Bank Automation
MARCH 22, 2024
FedNow, launched just eight months ago, has overtaken its main competitor, The Clearing House’s Real-Time Payments network, in terms of the number of banks on the platform.
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Stables Announces European Expansion of Stablecoin Virtual Card, powered by Mastercard
Fintech Finance
JULY 22, 2024
Bernardo Bilotta, co-founder of Stables, emphasised the company’s mission to create an open payment network that empowers anyone, anywhere to transact freely. Stables’ new market presence is a strategic move for the payment startup, with Europe emerging as a crypto-agnostic hub of capital and regulation. “As
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Payhawk and J.P. Morgan Payments to Boost Payment Innovation for Payhawk’s Enterprise Customers
Fintech Finance
NOVEMBER 19, 2024
With this collaboration, the spend management company, which holds EMI licence status in the UK, is set to have greater control of its payment stack and better access to payment networks, giving the company the ability to enhance its payment offering for customers. Morgan Payments.
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Klarna Expands Global Partnership with Expedia Group, Offering Flexible Payments to US Consumers
Fintech Finance
APRIL 22, 2024
Klarna, the AI powered global payments network and shopping assistant, today announced the expansion of its partnership with Expedia Group to the US market.
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KeyBank to hold off on FedNow until DDA reach hits 5%
Bank Automation
SEPTEMBER 11, 2024
NEW YORK — KeyBank is hesitant to join the Federal Reserve’s real-time payments network FedNow until the payments rail shows some growth. The $184 billion bank wants FedNow to reach 5% of demand deposit accounts (DDA) before joining the payment network.
Get to Know the Card Networks
Basis Theory
JULY 11, 2024
We introduce card networks, the main players in the space, and explain how a payment network works. Read the blog for details!
The Clearing House's Real-Time Payment network now averages over one million payments a day
Finextra
NOVEMBER 12, 2024
The RTP network, the largest instant payments system in the United States operated by The Clearing House, now averages over 1 million payments per day.
PayDo Selects ClearBank to Enhance Service Offerings to Their UK Customers
Fintech Finance
JULY 23, 2024
The partnership with ClearBank will allow PayDo customers to convert their transactions into 12 different currencies and gain access to the faster payments network. Our technology has allowed them to offer transactions in more currencies and access the faster payments network.
Cake by VPBank Leverages Visa for Cloud-Based Card Management
Fintech News
NOVEMBER 13, 2024
The system, built on Google Cloud infrastructure and using Visa Cloud Connect, integrates with Visa’s global payment network. The CMS aims to enhance payment processing in Vietnam by leveraging cloud infrastructure, allowing for secure and streamlined operations.
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