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Some Central Banks Have Dropped Out of the Digital Currency Race

“As countries around the world race to launch a central bank digital currency (CBDC), some jurisdictions have slowed down or dropped out of the race altogether. While many observers were pushing a narrative of urgency around CBDCs, some countries have decided that launching a CBDC isn’t currently necessary, while others have tested CBDCs only to dismiss […]
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Companies

Real-Time Payment Networks Grow, But Banks Still Search for Uses

“The future success of real-time payments platforms owned by the Federal Reserve and the largest U.S. banks hinges on whether financial institutions and fintechs can find real-world uses for the technology. Real-time payments are still in their infancy in the U.S.: The Clearing House, a company owned by Bank of America Corp.; JPMorgan Chase & […]
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Companies

Immediate Cross-Border Payments (IXB) Pilot Set to Revolutionize International Payments

“EBA CLEARING, The Clearing House (TCH) and SWIFT announced today that the delivery of the Immediate Cross-Border Payments (IXB) pilot service is on track and is set to revolutionize cross-border payments. The IXB pilot service will leverage the existing real-time payment systems RTP® in the United States, run by TCH, and RT1 in Europe, run […]
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Domains

Green Payments Announces Partnership with OVE Touch & Go®, Expands Point of Sale System with Novel Fingerprint Solution for Digital Payments

“Green Payments, a credit card processing and point of sale disrupter, today announces its partnership with OVE Touch & Go®, a novel fingerprint payment system that makes digital transactions secure, quick and easy with a simple touch. Green Payments CEO, Cliff Green, recently onboarded as an advisor to the company to help with the launch of […]
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Domains

Tassat® Successfully Completes Launch of The Digital Interbank Network™

“Tassat Group Inc., the leading provider of private blockchain-based business-to-business (B2B) real-time payments and financial services solutions to banks, announced that The Digital Interbank Network completed over $500 million in real-time transactions among three banks using Tassat-controlled accounts on Saturday, October 1. The groundbreaking launch saw over 400 transactions conducted without failure during an 8-hour period, […]
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Companies

Survey: Check Use Drops to All-Time Low for B2B Payments

“Check usage continues to decline for business-to-business (B2B) payments in U.S. and Canada (North America), falling to an all-time low of 33% since AFP began tracking this data in 2004, according to the 2022 AFP Digital Payments Survey, underwritten by J.P. Morgan. B2B check payments have dropped 9 percentage points in North America since 2019. This is consistent with the […]
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Domains

IntelliPay Announces Patent for Government Point of Sale Processing

“Today, IntelliPay a leader in no-cost payment processing and a premier provider of customized solutions for local and state governments, announced the issuance of U.S. Patent # 16,409,359 by the USPTO entitled “System and Method for Processing Chip-Card Transactions from a Host Computer.” IntelliPay’s patented technology allows government customers to make a single payment. Behind the […]

On The Wires

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Domains

Australian Buy-Now, Pay-Later Sector Faces Fresh Hurdle: Regulation

“When Melbourne barista Melinda Elliott had to cut back on casual work shifts this year, she asked her buy-now, pay-later (BNPL) provider, Afterpay, to lower her credit limit. She did not want debt she could not afford to repay. The Australian company, owned by Twitter founder Jack Dorsey’s Block Inc, cut her limit to A$2,000 […]