Prepare Now for FedNow
At some point between May and July, the Federal Reserve plans to launch its real-time payments system FedNow, and EasCorp’s Cynthia Nelson wants credit unions to get ready.
Fraud, Scam Cases Increasing on Zelle, Senate Report Finds
Incidents of fraud and scams are occurring more and more often on the popular peer-to-peer payment service Zelle, according to a report issued Monday by the office of Sen. Elizabeth Warren.
KeyBank to Use BlueSnap’s Payments Platform
KeyBank has selected Waltham-based fintech BlueSnap to provide a global payments platform for some middle-market clients.
Boston Banking Advisory Firm to Merge With London Company
Boston-based financial institution advisory firm Aite-Novarica Group plans to merge with RBR, a London-based research and data firm, to create a global research and advisory firm focused on the financial services and retail technology sectors.
A New Payments Solution for Cannabis
Cathy Corby Iannuzzelli has worked at the intersection of technology and financial services before “fintech” was even a word. Now, she’s leading the launch of KindTap, a first-of-its-kind payments service for the cannabis industry.
Survey: Access to Faster Payments Important to Most Businesses
Almost two-thirds of businesses would factor in access to faster payments when deciding whether to switch banks in the future, according to a new survey from the Federal Reserve.
Cross-Border Payments a Challenge for Small Lenders
From companies with global supply chains to small businesses using e-commerce, the growth in international business activities has affected payments processing, making it an important issue for even community banks to grapple with, researchers say.
Community Banks Keep Pace with Payments
2020 has brought opportunities for local lenders to showcase their payments-processing products to business customers who might be lured away by larger, national competitors.
J.D. Power: Small Business Satisfaction with Payment Providers Drops
The small businesses most affected by the pandemic were less satisfied with the companies that support their card and mobile wallet payments, with service-type functions receiving the lowest ratings, according to a new study from J.D. Power.
State Bank Supervisors Streamline Payments Company Exams
The Conference of State Bank Supervisors has launched a nationwide program that will offer a single exam to payments firms, ensuring that they satisfy all state regulatory requirements.
OCC’s Payments Charter Proposal Draws Opposition
A federal bank regulator’s plan to begin processing applications to provide charters to payments firms has drawn opposition from state bank supervisors.
Visa Buys Fintech Plaid for $5.3B
Visa is purchasing the fintech company Plaid for $5.3 billion, a major push by the payment processing giant into other types of money transfer systems outside of Visa’s traditional credit and debit card business.
Circle Raises Another Round of Funding
The Boston-based payments company Circle has raised money yet again, continuing to grow at an extremely fast pace.
