On The Web

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How check maker Deluxe is working to digitize coronavirus relief payments

May 29 2020

• in
• Checks
• Government Payments

“Deluxe, trying to diversify from its declining checking-business model, has developed a platform enabling EAF recipients to receive relief funds via ACH, PayPal or a virtual prepaid card instead of a check. The EAF works with about 60 major corporations, most of them based in the U.S., to distribute IRS-approved employee hardship grants, typically sending […]

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Rakuten Refiles With FDIC for ILC Charter

June 1 2020

• in
• Remote Commerce

“Two months after Rakuten withdrew its bid for a banking charter in the United States, the Japanese e-commerce giant has resubmitted its application to the Federal Deposit Insurance Corp. Rakuten, which operates in the U.S. as a shopper rewards program and has built an online banking and credit card empire in Asia, revised its application […]

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African Migrant Workers Are Unable to Send Money Home, Cutting Off a Lifeline to Vulnerable Communities

June 1 2020

• in
• Remittances

“The coronavirus pandemic is leaving migrant workers unable to send money or goods home to families, cutting off a vital lifeline for communities already under siege from a barrage of external shocks. Remittance flows to low and middle-income countries (LMICs) are projected to fall by almost 20% in 2020, one of the sharpest declines in […]

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Western Union Makes an Offer to Buy MoneyGram

June 2 2020

• in
• Remittances

“Western Union Co. is seeking to acquire MoneyGram International Inc. in a transaction that would bring together two of the largest U.S. providers of money-transfer services, according to a person familiar with the matter. Western Union has made a takeover offer for MoneyGram, said the person, who asked not to be identified because the matter isn’t […]

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Pinterest adds a ‘Shop’ tab to its Lens Camera search results to showcase matching in-stock products

June 2 2020

• in
• Remote Commerce

“As more retailers are bringing their products online via Pinterest, the company this morning is launching a new “Shop” tab in its Lens camera search results that will show the matching in-stock merchandise similar to a photo you take of something offline in the real world or even uploaded as a screenshot. To use the […]

On The Wires

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Vesta Secures $125 Million Investment From Goldfinch Partners

May 29 2020

• in
• Ecommerce fraud
• Remote Commerce

“Vesta , a fintech pioneer in fraud protection and fully guaranteed payment technologies, has secured $125 million in new growth capital from private equity firm Goldfinch Partners . The funding will provide Vesta with the resources to invest in growth and continue the global deployment of its fraud protection and e-commerce payment solutions. Vesta enables […]

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Subscription Usage Patterns Worldwide – 2Checkout Survey

May 29 2020

• in
• Remote Commerce

“2Checkout, the leading all-in-one monetization platform for global businesses, today released the key findings from its recent consumer subscription usage survey, conducted on a global audience during the months of March and April 2020. The survey results provide valuable insights into consumer sentiment across multiple dimensions, including popular subscription categories, adoption rates, preferred billing cycles […]

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Request to Pay Rules and Standards Framework Launched

May 29 2020

• in
• Bill Payment
• UK

“Today (Friday 29 May 2020) Pay.UK is pleased to launch the Request to Pay Framework – the message standards, rules, and terms and conditions for the development of Request to Pay services.   The new Framework can now be used by organisations to create the first Request to Pay propositions, set to underpin a vibrant […]

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GoCardless and YayPay Form Partnership to Address YayPay’s Growing Global Customer Base

June 2 2020

• in
• B2B

“GoCardless, the leading fintech for recurring payments, today announced a strategic partnership with YayPay, a leading predictive accounts receivable (AR) automation solution. This wide-ranging partnership will see YayPay integrate GoCardless’s global network with its AR offerings to provide direct debit payments to its expanding base of customers in North America and Europe. By offering bank […]

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South Africa’s Mama Money Expands Global Reach With Western Union – Customers Can Now Send International Money Transfers To 200 Countries And Territories Via The Mama Money Mobile App

May 29 2020

• in
• Remittances
• South Africa

“Western Union, a leader in cross-border, cross-currency money movement and payments, and Mama Money, a rapidly growing international money transfer company, have joined forces to enable Mama Money customers to send money to their loved ones around the world via Western Union’s Global Network. This collaboration will gear Mama Money’s more than 500,000 customers in […]