Payments News

On The Web

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Domains

Why the Business-to-Consumer Payout Market Is a Hot Payments Niche

“Boston-based Aite estimated the size of this payout market in the United States at $10.7 trillion in 2018 on 3.5 billion transactions. The dollar value of disbursements to consumers over age 18 grew 78% from 2014-18. Based on a 2018 survey of 2,538 Americans, Aite estimated that 68% of consumers received funds disbursements via direct […]
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Reports

U.S. Bancorp’s Merchant Volume Rises 10% While BofA Sees Big Zelle Growth

“Minneapolis-based U.S. Bancorp reported $119.1 billion in merchant volume versus $107.8 billion in 2018’s fourth quarter. Transactions totaled 1.69 billion, up 13.8% from 1.49 billion a year earlier. That generated $409 million in non-interest income, a 5.1% increase. The revenue growth was “driven by higher sales volumes and merchant fees,” U.S. Bancorp said in its […]
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Reports

A Thousand EU Financial Firms Plan to Open UK Offices After Brexit

“More than 1,400 EU-based firms have applied for permission to operate in the UK after Brexit, with over 1,000 of these planning to establish their first UK office, according to a Freedom of Information request (FOI) by Bovill. The FOI provides evidence that London and the UK will continue to be a leading player on […]
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Reports

Same-Day ACH Traffic Reaches 1 Million Daily Payments, Nacha Reports

“Faster payments on the nation’s automated clearing house network reached a milestone in the fourth quarter, with each business day recording at least 1 million same-day transactions for the first time since same-day service was introduced, according to data released Wednesday by Nacha, the governing body for the ACH. “We’re delighted to see the growing […]
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Reports

Automation to Be Central to Financial Services, According to Avaloq Study

“The automation study, carried out by fintech firm Avaloq , also found that increased used of open and collaborative platforms (34%) and more distributed ledger technologies and cryptocurrencies (26%) could play a major role in financial services going forward. As for what is aiding digital transformation in financial services currently, participants cited compliance under updating […]

On The Wires

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Companies

Gift Giving Helps Zelle® Wrap Up 2019 With Double Digit Growth

“Early Warning Services, LLC, the network operator behind Zelle®, today announced its Q4 2019 and 2019 full year results. In Q4 2019, the Zelle Network® processed 230 million transactions, totaling $56 billion in money sent — an increase of 14% and 17% quarter-over-quarter, respectively. For the 2019 calendar year, the Zelle Network processed $187 billion in payments on 743 million transactions. […]