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July 27, 2021

TOP POST

Global

SWIFT Launches SWIFT Go, a Fast, Cost-Effective Service for Low-Value Cross-Border Payments

“SWIFT today announces the launch of SWIFT Go , a transformative new service that enables small businesses and consumers to send fast, predictable, highly secure, and competitively priced low-value cross-border payments anywhere in the world, direct from their bank accounts. Seven global banks, which collectively handle 33 million low-value cross-border payments per year, are already live with the service. SWIFT Go enables financial institutions to offer a seamless payments experience for low value transactions often initiated by small- and medium-sized enterprises (SMEs) to pay suppliers overseas and by consumers sending money to friends and family internationally. Using tighter service level agreements between institutions and pre-validation of data , SWIFT Go enables banks to provide their end customers a fast and predictable payments experience with upfront visibility on processing times and costs.”

On The Web

Deals

Nium Crosses $1B Valuation With $200M Riverwood Capital-led Round

TechCrunch

“Business-to-business payments platform Nium announced Monday that it raised more than $200 million in Series D funding and saw its valuation rise above $1 billion. The company, now Singapore-based but shifting to the Bay Area, touted the investment as making it “the first B2B payments unicorn from Southeast Asia.””

Deals

South African Payments Startup Yoco Raises $83M Series C Backed by Dragoneer

TechCrunch

“Small and medium enterprises (SMEs) contribute heavily to the economic success of many countries, particularly those in the developing world. They are the backbone of most economies: Globally, SMEs represent about 90% of existing businesses and create more than 50% of employment. In South Africa, these businesses contribute around one-third of the country’s GDP. Last year, the coronavirus pandemic threatened the existence of some of these SMEs, and its effects linger as owners worry about revenue, sales and cash flow.”

Regulation

Cryptocurrency Exchanges Huobi, OKCoin Dissolve Beijing Subsidiaries Amid Crackdown

South China Morning Post

“The operators of cryptocurrency exchanges Huobi and OKCoin are closing their respective subsidiaries in Beijing, dealing another blow to investors in bitcoin and other digital tokens in mainland China amid the latest crackdown on this sector. Beijing Huobi Tianxia Network Technology Co applied last Thursday to cancel the company’s registration after its “resolution of dissolution”. Creditors must declare their claims to the liquidation group within 45 days of that announcement, according to company records on the National Enterprise Credit Information Publicity System’s website.”

Regulation

Oman to Make It Mandatory for All Merchants to Accept Cashless Payments

NFCW

“The Omani Ministry of Commerce, Industry and Investment Promotion (MoCIIP) is making the acceptance of cash-free payments mandatory as part of a plan to reduce the amount of cash circulating in the country. “The first phase of rolling out cashless payment options will cover all activities in industrial areas, shopping complexes, commercial establishments, gift stores, companies involved in the sale of food, jewellers, restaurants and cafes, fruit and vegetable shops, electronics stores, shops selling construction materials, and tobacconists,” Times of Oman reports .”

On The Wires

Reports

Juniper Research: Contactless Card Transaction Values to Reach $2.5 Trillion in 2021, Dominating the Contactless Landscape

“A new report from Juniper Research has found that global contactless card transaction values will reach $2.5 trillion in 2021, from $1.7 trillion in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. The pandemic has significantly accelerated an existing contactless card usage trend, and these value increases will be sustained beyond 2021 and into the future. The new research, Contactless Payments: Trends, Opportunities and Market Forecasts 2021-2026 , found that the combination of accelerated card issuance and usage during the pandemic with a series of global transaction limit increases have unlocked significant growth potential for contactless payments, fundamentally changing the payments paradigm.”

Systems

Strong Growth Continues for ACH Network As Volume Climbs Nearly 10% in Second Quarter of 2021

“Robust growth continued for the modern ACH Network in the second quarter of 2021. Payment volume climbed 9.9%, with particularly strong growth in business-to-business (B2B) payments. The ACH Network processed 7.3 billion payments in the second quarter, 655 million more than the same time in 2020. The value of those payments was $18.4 trillion, an increase of 24.6% from a year earlier.”

Systems

Mastercard Launches New Start Path Cryptocurrency and Blockchain Program for Startups

“Mastercard announced today a new Start Path global startup engagement program dedicated to supporting fast-growing digital assets, blockchain and cryptocurrency companies. As a continuation of Mastercard’s digital assets work, seven startups have joined the program, including GK8 , Domain Money , Mintable , SupraOracles , STACS , Taurus , and Uphold , and together with Mastercard seek to expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets.”

July 26, 2021

On The Web

Deals

African E-wallet Startup PayQin Closes €300K Seed Round

Finextra Research

“PayQin, a cross-border payment startup that operates a comprehensive e-wallet service for the underbanked in West Africa, is announcing a new €300K seed investment round that takes the company’s funding up to $1 million. The company aims to reach one million daily transactions in a year and envisions a single payment area for the West African countries.”

Global

Fino Payments Bank Starts QR-based Payments for Merchants

mint

“MUMBAI: Fino Payments Bank on Monday said it is facilitating person-to-merchant (P2M) payments through QR code-based unified payments interface (UPI) solution. Fino’s initiative comes amidst a surge in QR-code based payment solutions riding on increased smartphone penetration, usage of high-speed internet and Aadhaar-linked bank accounts.”

Industry

Consumer Spending Helps Put AmEx Within a Whisker of Pre-Pandemic Times

Digital Transactions

“Driving the improved results was steady improvement in the company’s vital travel-and-entertainment business and increased usage from younger cardholders, the company said. “We saw Card Member spending accelerate from the prior quarter and exceed pre-pandemic levels in June, with the largest portion of this spending growth coming from Millennial, Gen Z, and small business customers,” said Stephen Squeri, AmEx’s chairman and chief executive, in a statement.”

Risk

Venmo Gets More Private—but It’s Still Not Fully Safe

Ars Technica

“Venmo, the popular mobile payment service, has redesigned its app. That’s normally news you could safely ignore, but this announcement is worth a closer look. In addition to making some navigational tweaks and adding new purchase protections, the PayPal-owned platform is finally shutting down its global social feed, where the app published transactions from people around the world. It’s an important step toward resolving one of the most prominent privacy issues in the world of apps, but the work isn’t finished yet.”

Systems

China’s Digital Yuan Puts Ant and Tencent in an Awkward Spot

Wall Street Journal

“The People’s Bank of China in recent months has accelerated the testing of its digital yuan, putting the operators of Alipay and WeChat Pay in a difficult spot: They have little choice but to take part, despite the risk of eroding the huge user bases they have grown over years. Most of China’s 1.4 billion people use at least one of the private services to make mobile payments.”

Systems

Amazon Rumored to Accept Bitcoin by End of 2021 and Develop Own Currency by 2022: Report

Gizmodo

“Amazon has plans to accept the cryptocurrency bitcoin by the end of 2021, according to an anonymously sourced report in the London newspaper City A.M. And while this is just the word of one anonymous “insider” at the Seattle-based mega-retailer, bitcoin’s price skyrocketed overnight and it’s creating a lot of buzz in the world of cryptocurrencies—a world built on little more than buzz.”

Tech

QR Codes Are Here to Stay. So Is the Tracking They Allow.

The New York Times

“QR codes — essentially a kind of bar code that allows transactions to be touchless — have emerged as a permanent tech fixture from the coronavirus pandemic. Restaurants have adopted them en masse, retailers including CVS and Foot Locker have added them to checkout registers, and marketers have splashed them all over retail packaging, direct mail, billboards and TV advertisements.”

On The Wires

Global

FICO UK Credit Market Report May 2021: Markedly Lower Year-On-Year Increase in Credit Card Spend Suggests Consumers Are Adjusting to ‘New Normal’

“Global analytics software provider FICO today released its analysis of UK card trends for May 2021, which suggests that some consumers are practicing pragmatic financial management, as well as continuing to make use of savings accrued during the pandemic. There are, however, warning signs of the financial pressure growing for those already in debt. Whilst the effects of a full month of retail and hospitality re-openings were reflected in a further rise in card spend, the increase was just 4 percent compared to the 12 percent increase seen in April. This suggests that consumers foresee future pressure on income with the prospect of furlough support and payment holidays ending.”

Security

BioCatch Enters Implementation Stage of Strong Customer Authentication (SCA) for Payment Services Directive (PSD)2, Launches SCA Compliance Awareness Events

“BioCatch, the global leader in behavioural biometrics announced it has entered the implementation stage of its offering that will enable financial institutions to leverage BioCatch’s behavioural biometric-based solution to support their journey to compliance with PSD2’s implementation of Strong Customer Authentication (SCA), a regulation that requires multi-factor authentication for online transactions. BioCatch’s behavioural biometrics industry best-practices solution improves banks and financial institutions’ customer experience by applying machine learning to provide superior consumer protection while reducing friction in the digital journey.”

Use

Appsuite and TableSafe Partner to Equip Restaurants With the Ultimate End-to-End Dining Experience

“Through a seamless integration to Oracle MICROS RES 3700 and Simphony platforms, Appsuite and TableSafe offer gift cards, loyalty and CRM together with pay-at-the-table in a premium end-to-end solution for dine-in restaurants. The integrated experience allows restaurants equipped with Oracle MICROS to maximize their existing POS and deliver next-generation hospitality features to strengthen their bottom line.”

Use

RocketFuel Introduces Crypto Payment Solution for Cannabis Dispensaries and Merchants

RocketFuel (OTC: RKFL) (“RocketFuel” or the “Company”), a global provider of one-click online payment options using Bitcoin and 50+ other cryptocurrencies, today announced that it will be making its payment solution available to be used by licensed cannabis dispensaries and merchants. Integrating RocketFuel into the merchant’s payment checkout will ensure that, unlike the typical cash transactions which come with security and logistical problems, merchants can accept crypto payments from users who have cryptocurrencies in a private wallet or in certain crypto exchange accounts. This service will even cover online delivery orders if they fall under permissible local regulations. RocketFuel will be compliant with FinCEN guidance on providing financial services to the cannabis industry.”

July 23, 2021

On The Web

Deals

Paystand Banks $50M to Make B2B Payments Cashless and With No Fees

TechCrunch

“It’s pretty easy for individuals to send money back and forth, and there are lots of cash apps from which to choose. On the commercial side, however, one business trying to send $100,000 the same way is not as easy. Paystand wants to change that. The Scotts Valley, California-based company is using cloud technology and the Ethereum blockchain as the engine for its Paystand Bank Network that enables business-to-business payments with zero fees.”

Deals

‘Buy Now Pay Later’ Provider Zilch Strikes $110m Funding Deal With Goldman and Daily Mail-owner

Sky News

One of the biggest players in Britain’s fast-growing ‘buy now pay later’ finance sector will announce on Friday that it has secured funding from Goldman Sachs and the owner of the Daily Mail.

Sky News has learnt that Zilch has struck a deal to raise $110m (£80m) in debt and equity from Goldman’s asset management arm’s private credit team and DMG Ventures, a division of Daily Mail & General Trust (DMGT).

Tech

Polish Mobile Payments Service Lets Users Make NFC Payments Direct From Bank Account

NFCW

“Consumers in Poland will soon be able to use their Android NFC device to make tokenized contactless payments at the point of sale (POS) directly from their bank account via their mobile banking app without needing a debit or credit card. Polish mobile payments service provider Blik is making the contactless functionality available in the apps of six of the 17 banks that support its mobile payments solution.”

July 22, 2021

TOP POST

Deals

Visa to Acquire Currencycloud

“Visa (NYSE: V) today announced it has signed a definitive agreement to acquire Currencycloud, a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments. The acquisition builds on an existing strategic partnership between the two companies and values Currencycloud at £700 million, inclusive of cash and retention incentives. The financial consideration will be reduced by the outstanding equity of Currencycloud that Visa already owns. Currencycloud’s cloud-based platform offers a broad set of APIs enabling banks and financial services providers to offer currency exchange services, including real-time notifications on foreign exchange transactions, multi-currency wallets, and virtual account management. The Currencycloud platform supports nearly 500 banking and technology clients with reach in over 180 countries.”

On The Web

Companies

Amazon Ends Use of Arbitration for Customer Disputes

The New York Times

“In a brief email to customers, Amazon said anyone using its products would now have to pursue disputes with the company in federal court, rather than go through the private and secretive arbitration process, which critics say puts consumers at a huge disadvantage . “This is a big deal,” said Florencia Marotta-Wurgler, a professor at New York University Law School who focuses on consumer law. “For so long, the tide had been going the other way, with companies adding arbitration clauses to their contracts.””

Deals

Stellar Foundation Eyes Potential Acquisition of MoneyGram: Report – CoinDesk

CoinDesk

“Stellar Development Foundation has contacted MoneyGram International about a potential purchase of the 81-year-old remittance giant, Bloomberg reported on Wednesday. Stellar is partnering with private equity firm Advent on the possible deal, according to unnamed sources cited in the article. Stellar and Advent could decide not to push forward with the acquisition. In May, San Francisco-based Stellar, a non-profit that supports a blockchain-based platform enabling consumers and institutions to move money, made a $15 million investment in AirTM, a digital wallet and peer-to-peer exchange platform based in Mexico.”

Deals

UnionPay-IATA Partnership Gives Card Users Broader Access to Purchasing Tickets Online

prnewswire

“UnionPay International (UPI) announced today the cooperation with the International Air Transport Association (IATA) to launch multiple UnionPay payment products on the IATA Financial Gateway (IFG). UnionPay cardholders can now make easy reservations via all airline distribution channels including travel agents and mobile apps of international airlines that accept UnionPay products.”

Domains

Breaking up with Venmo: The best payment apps for privacy and low fees

Washington Post

“This isn’t the first time Rosenthal — who estimated he receives about 30 Venmo deposits from customers every month — has had to rethink his approach to cashless payments. He started using Venmo after leaving PayPal because of its hefty fees. Now, he’s considering going back to paper checks.”

Global

Russia’s Mir Card Payment System Connects to Apple Pay

US News

“Russia’s card payment system Mir, which was set up in 2015 after the West imposed sanctions on Moscow, is now connected to Apple Pay, the card issuer said on Tuesday. More than 95 million Mir cards have been issued by Russia’s National Card Payment System (NSPK), accounting for about a third of Russia’s card market which was previously dominated by international payment systems Visa and Mastercard.”

Systems

India Considering Phased Roll Out of Central Bank Digital Currency

TechCrunch

“India’s central bank is considering launching a digital currency, according to a top executive, giving a clear indication of its intentions for the first time after previously stating that it was studying the idea. T Rabi Sankar, the deputy governor of Reserve Bank of India, said at a conference today that the central bank is considering introducing the nation’s digital currency in a “phased” manner while legal changes are made to the South Asian nation’s foreign-exchange rules and IT laws. The digital currency, which will be backed by sovereign, will lower the economy’s reliance on cash, enable cheaper and smoother international settlements, and protect people from the volatility of privacy cryptocurrencies, he said.”

On The Wires

Domains

EMQ Bolsters Real-Time Cross-border Payments Across Southeast Asia With Expansion to Thailand

“Global financial settlement network EMQ today announced that it has significantly augmented its real-time cross-border payments across Southeast Asia by adding Thailand’s PromptPay to the network. This major enhancement further expands our global payment capabilities into Thailand, providing global enterprises with the most comprehensive financial solutions to capture new opportunities across the markets.”

Domains

Barclaycard Payments Signs up to Mastercard Track Business Payment Service to Modernise Business Payments

“Barclaycard Payments today announces it has agreed to join Mastercard Track™ Business Payment Service, making new services available to Barclaycard Payments’ customers later this year. The innovative, open loop network delivers value to both Buyers and Suppliers by simplifying and automating the set up and execution of business payments using multiple payment rails and enhancing the exchange of payments-related data. In turn, it enables Buyers and Suppliers to utilise the best available option for paying each-and-every invoice.”

Reports

Full Service Restaurant Transaction Volumes Climb Dramatically in Second Quarter

TableSafe, Inc. , a leading innovator of pay-at-the-table technology designed for the hospitality industry, today shared insight into customer payment transaction data indicating that the recovery of the full-service restaurant industry continued in the second quarter of 2021. TableSafe’s data, gathered from full-service restaurants across the United States, reveals that customer transaction volume increased 47% over the first quarter of 2021. Additionally, transaction revenue increased 55% from the first quarter of the year.”

Systems

Greater Transparency for USDC Reserves

“Since nearly three years ago when the first USD Coin (USDC) entered circulation, Circle, together with Centre Consortium, have prioritized trust, transparency, and accountability. These priorities have helped USDC grow widely within the global blockchain ecosystem… With this latest reserve attestation, we are now including a breakdown of dollar-denominated  reserve assets, which are all held in the care, custody and control of U.S. regulated financial institutions and in line with laws and guidelines from our U.S. state money transmission regulators.  Indeed, as pioneers in the digital currency industry, Circle, together with Centre Consortium, have evolved a reserve management model that is more conservative and transparent than comparatively regulated digital payments systems and financial technology (FinTech) organizations.”

July 21, 2021

On The Web

Deals

Yapily Raises $51 Million for Its Open Banking API by Focusing on Infrastructure

TechCrunch

“Fintech startup Yapily has raised a $51 million Series B funding round led by Sapphire Ventures . The company has been working on a single, unified open banking API for several European markets. Developers can leverage that programming interface to interact with third-party bank accounts directly from their own products…Another difference is that Yapily focuses exclusively on API integrations. Due to recent regulatory changes in Europe (PSD2), banks now have to offer official APIs to integrate with third-party services. While some still don’t offer APIs, many of them are now complying with the rules.”

Deals

WhenThen’s No-code Payments Platform Attracts $6M From European VCs Stride and Cavalry

TechCrunch

“The payments space — amazingly — remains up for grabs for startups. Yes, dear reader, despite the success of Stripe, there seems to be a new payments startup virtually every other day. It’s a mess out there! The accelerated growth of e-commerce due to the pandemic means payments are now a booming space. And here comes another one, with a twist. WhenThen has built a no-code payment operations platform that, they claim, streamlines the payment processes “of merchants of any kind”.  It says its platform can autonomously orchestrate, monitor, improve and manage all customer payments and payments ops.”

Deals

Online Checkout Startup Bolt Valued at $4 Billion

The Information

“Bolt, a San Francisco-based startup that offers software for online shopping, is raising $333 million in Series D funding at a post-investment valuation of $4 billion, nearly five times its valuation in December, according to three people familiar with the matter. London-based venture firm Hedosophia is leading the round, said one of the people. Six-year-old Bolt has six million registered users and next year expects 50 million people to use Bolt’s one-click checkout service through merchants such as Forever 21 and Brooks Brothers, according to a person familiar with the business. The startup makes money by charging merchants a 2% fee on purchases made through Bolt.”

Global

ASEAN Banks Battle Non-bank Fintech Companies – Tech Wire Asia

Tech Wire Asia

“Fintech companies offering digital payments have been rapidly growing their customer bases across the Association of Southeast Asian Nations (ASEAN) region in recent years.  The Big Five of ASEAN — Indonesia, Thailand, the Philippines, Singapore, and Malaysia are a hotbed for non-banks building regional electronic e-wallet platforms. In fact, they are so popular that fintech apps have seen massive demand since last year.”

Providers

Most Consumers Want To Decrease Credit Card Use As BNPL And Debit Gain Favor, a Survey Finds

Digital Transactions

“A majority of U.S. consumers in all age groups—76%—would like to decrease their use of credit cards as they seek to avoid debt, are wary of their ability to pay off their balances each month, and have concerns about making the minimum payments, according to a survey from GoCardless Ltd., a London-based recurring-revenue specialist…What do they want to use instead? Debit cards and no-interest installment payments found a lot of favor. In the 18-25 age group, 89% would rather use a debit card as would 87% in the 25-40 group. That dips to 54% for those 57 or older. Regardless of age group, 78% would choose a debit card instead of a credit card.”

Providers

GrabPay adds Adyen to PayLater options amid BNPL boom

techinasia

“Super app Grab has boosted customers’ buy now, pay later (BNPL) choices in Singapore and Malaysia by expanding its partnership with payment company Adyen . The announcement comes as the region sees increased transactions through deferred payments, with buyers opting to pay installments interest-free through platforms rather than use credit cards for purchases.”

Systems

PayU Purchases CELO Tokens to Kickstart Stablecoin Payment Program

The Block

“PayU, the payments business of the investment group Prosus, has formed a partnership with decentralized payments protocol Celo. The pair plan to launch new stablecoin payment options for PayU’s 450,000 merchant customers using cUSD, Celo’s dollar-pegged stablecoin. Together, PayU’s clients serve millions of people across Latin America, Africa, and Southeast Asia.”

Systems

Spanish Financial Sector Explores Design Concepts for Digital Euro

Finextra Research

“Iberpay in concert with 16 Spanish banks has successfully concluded proof-of-concept trials that tested different design options for a future digital euro. The Smart Money project compared and contrasted different approaches currently under investigation by the European Central Bank, such as token-based and account-based models, DLT technology, online digital money payments and the possibility of making offline payments without internet connection.”

Systems

Yellen Urges Quick U.S. Adoption of Stablecoin Rules

Reuters

“Treasury Secretary Janet Yellen told regulators Monday that the U.S. government must move quickly to establish a regulatory framework for stablecoins, a rapidly growing class of digital currencies. A group of U.S. regulators plans to issue recommendations in the coming months for fixing any regulatory gaps around stablecoins, the Treasury Department said in a statement.”

On The Wires

Companies

Meet Visa: Reintroducing the Iconic Visa Brand to Everyone, Everywhere

“Inviting the world to ‘ Meet Visa ,‘ the global payments technology company today unveiled the initial phase of its brand evolution spotlighting the diverse capabilities of its network and commitment to enabling global economic inclusion. Aligned closely with the company’s business strategy, this phase includes the debut of a dynamic global marketing campaign and a preview of a modernized look for Visa’s iconic brand.”

Deals

Thunes Acquires Limonetik to Accelerate Rollout of Global Payment Collections

“Cross-border payments leader Thunes today announced the acquisition of Limonetik, a European Payment Methods Platform. This move will complement existing Thunes Cross-Border Payments solutions by enabling businesses to get paid in 70 countries, using over 285 local payment methods such as mobile wallets, payment by instalments (BNPL), QR code payments and more. The solution will be known as Thunes Collections. Limonetik is one of the earliest developers of an alternative payment methods platform suitable for international merchants and marketplaces. And like Thunes, the firm closely partners with payment service providers and financial institutions.”

Deals

InComm Payments Invests in Instant Financial, Establishes Strategic Partnership Supporting Earned Wage Access | InComm

InComm Payments , a leading payments technology company, today announced that it has made an undisclosed investment in Instant Financial , a leading provider of fee-free earned wage access (EWA) solutions. Established in 2015, Instant is a financial wellness company that helps employees bridge the gap between workday and payday by allowing them to access a portion of their wages immediately after their shift, simply with the tap of their smartphone.”

Domains

BlackLine and Kyriba Partner to Streamline Digitalization of the Office of the CFO

“Accounting automation software leader BlackLine , Inc. (NASDAQ: BL) and Kyriba , a global leader of cloud-based finance and IT solutions, today announced that they are joining forces to streamline the digitalization of the Office of the CFO and improve collaboration between Finance and Treasury departments. The partnership offers enhanced capabilities for mutual customers through their integrated solutions to accelerate bank connectivity, increasing cash visibility and enabling greater automation within the financial close and accounts receivable processes.”

Domains

Fiserv Integrates E-Commerce Solutions Into Its Portfolio in Mexico

Fiserv Inc. , a leading global provider of payments and financial services technology, today announced the integration of a cutting-edge fraud prevention solution into its e-commerce payment gateway to reduce the fraud-related chargeback risk for Mexico’s online commerce. The Vesta fraud prevention platform helps secure online payment transactions, reduces the decline rate, and includes a “Zero Chargeback Guarantee.”

Domains

Veem Introduces Product Suite, Offering No-fee End-to-end Payment Experience for Domestic and Cross Border Transactions

“Veem, a leading provider of online payment solutions, today announced the release of a suite of products including Veem Invoicing and Veem Collections to help small businesses Pay and Get Paid. The new suite of products provide an end-to-end, industry-first payment solution that enables small businesses to collect and receive payments in local and multi- currencies from 40 countries.  From invoicing to payment collections, the new offering removes friction from the process by allowing small businesses to build, customize, and send invoices, as well as the unique built-in ability to cost effectively collect any payments from around the world, including zero-fee payments in domestic markets. On the payer’s side, the product suite gives them the choice to pay from multiple methods, including bank account, credit card, check or through their Veem Wallet.”

Providers

Finicity and Green Dot Announce Secure Data Access Agreement to Deliver More Accessible, Seamless and Secure Money Management to Customers

“Finicity, a Mastercard company and leading provider of open banking solutions, announced today that it has signed a data access agreement with Green Dot (NYSE: GDOT), a digital bank and fintech focused on delivering trusted, best-in-class banking and payment solutions that seamlessly connect people to their money…The Finicity direct API experience will first be available through Green Dot’s flagship digital bank GO2bank and will allow customers to link their accounts to third-party apps that use Finicity’s secure data network and financial data – further enabling them to connect, manage and move their money in a secure and seamless environment.”

Tech

Afinis Interoperability Standards Releases New APIs to Help Businesses With Cash Management Decisions | Nacha

“Nacha’s Afinis Interoperability Standards announced today it has released three new APIs to assist corporate customers of financial institutions with accessing and reviewing their own financial transaction data to better help them with cash management analysis and informed decision-making. Afinis is a membership-based organization that focuses on the rapid delivery of APIs and other financial services standards across the U.S. and globally.”

Use

Cincinnati Family Tech Pay Theory Announces Launch of Its Cash Acceptance Tool

Pay Theory , a Cincinnati-based startup that provides payment solutions for school districts, childcare, and families, is excited to announce the launch of its cash payments tool to simplify the burden of making school-related payments for the roughly 30 percent of K–12 families in the US who are un- or underbanked. The Pay Theory in-person cash payments function allows users to complete digital payment transactions in the analog world without having to have a credit card. When making a school-related payment online, users can select the “pay cash” option. They will then be issued a barcode that can be scanned by a cashier just like any other coupon. The bill can be paid in cash right along with groceries or a prescription pickup.”

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