Payments News

On The Web

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Domains

Banks Near Zero Hour on $124 Trillion of Flows

August 9 2019

“While exorbitant currency spreads and hefty bank charges are the norm for payments that cross national borders, the impression that they mostly affect individuals is wrong. Annual people-to-people transactions amount to $400 billion a year. People-to-business payments – like sending fees to schools overseas – come to another $1.5 trillion. Those are substantial figures, but they pale […]
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Domains

Citi Hong Kong Announces New Digital Payment Solution That Enables Credit Cardholders to Settle Big Ticket Payments on Citi Mobile App

August 6 2019

“Citi Hong Kong announced last week the launch of Citi PayAll, a payment solution that enables Citibank credit cardholders to settle one-off or recurring payments on the Citi Mobile App using their credit card while earning Points at the same time. According to Citi Hong Kong, the types of payment Citi PayAll covers include monthly […]
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Domains

After a Quarter Century, E-Commerce Heads Into New Territory

August 14 2019

“Hard to believe, but e-commerce is a quarter-century old. Along the way, e-commerce radically changed retailing and payments, and now it’s heading into a future with more growth certain but where payments are more in the background. Visa Inc. this week reported in a blog post that the first e-commerce payment was made on Aug. […]
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Domains

EMVCo to Support Eight-digit Issuer Identification Numbers From 2021

August 15 2019

“EMVCo is to add support for eight-digit Issuer Identification Numbers (IINs) in 2021, with the result that “point of sale terminals may need to be updated to ensure they recognise and have the ability to process both existing and longer IINs, or transactions may be terminated or processed incorrectly”.”
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Companies

Walmart’s Q2 E-commerce Growth Bolstered by Online Grocery, Prime Day Sales Bump | ZDNet

August 16 2019

“Walmart’s e-commerce business continues to be a bright spot in the company’s sales growth, with online grocery contributing significantly to its gains in digital. Walmart also gave a nod to its “four-day July sales event” that countered Amazon Prime Day for giving its Q2 e-commerce sales a boost. Overall, the world’s largest retailer reported comparable […]
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Domains

The Money-Transfer Newbies Nip at the Incumbents’ Heels

August 16 2019

“Relative newcomers to the world of money transfers such as Remitly Inc., TransferWise Ltd., and WorldRemit Ltd., which specialize in end-to-end digital transactions, are nibbling away at the market share of agent-based leaders The Western Union Co. and MoneyGram International Inc., says a new report from research firm Aite Group LLC.  Overall, the global money-transfer […]
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Domains

Ripple Grants 1 Billion XRP to Content Platform Coil to Boost Adoption of the Token

August 16 2019

“Ripple’s investment subsidiary Xpring has granted 1 billion XRP to Coil, a micropayments platform for content creators, aiming to drive adoption of the world’s third-largest cryptocurrency by market capitalization. The grant, worth roughly $262 million at today’s price, will be used to improve Coil’s business model by making it easier to monetize content using Ripple’s […]
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Domains

TransferWise’s Debit Card Launches in Australia and New Zealand, With Singapore to Follow

August 15 2019

“International money transfer startup TransferWise ’s debit card is now available in Australia and New Zealand, with a Singapore launch expected by the end of this year as the company expands its presence in the Asia-Pacific region. TransferWise’s debit card, which features low, transparent fees and exchange rates, first launched in the United Kingdom and […]

On The Wires

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