Payments News

On The Web

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Providers

A Hospitality POS Software Developer Becomes an ISO

“The hotly competitive arena of integrated payments has prompted PointOS, a hospitality software developer, to register as an independent sales organization to gain better control over payment services it offers. The company, which serves customers, announced its ISO registration this week and calls its service PointOS Payments .”
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Goldman Eyes Offering Small-business Loans in Deal With Amazon

“Should the two companies reach a deal, Goldman will be adding itself to Amazon’s lending platform, which has been in place for years and is used as a way to strengthen the online retailer’s ties with small-business clients. The loans are used mostly to provide merchants on the Amazon.com website with funding to procure inventory.”
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Providers

CDR Rules Formalise Open Banking Data Standards

“Momentum is finally building for the July 1 introduction of transformative Consumer Data Right (CDR) legislation after the Australian Competition and Consumer Commission (ACCC) released detailed guidelines about the information banks will be required to give you when you ask for it.”
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Providers

Growth of Digital Payments Set to Cost Australian Banks US$3 Billion

“As much as 13.7% of Australian banks’ payments revenue, or US$3 billion, is likely to be displaced by the growth of digital payments and competition from non-banks, as payments become more instant, invisible and free, according to a new report from Accenture. The report found payments revenue in Australia will likely grow at an annual rate […]
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Providers

Fintech Has Finally Cracked the US Banking Sector

“Varo Money is poised to become a full-fledged bank , making it the first of a new wave of fintech upstarts to win that approval in the US. The company’s long and expensive journey through a thick barrier of regulation is a reason why America’s banks have repelled the tech disruption sweeping through other industries.”
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On The Wires

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Remitly Launches Passbook – Banking Designed for Immigrants

“Beginning today, immigrants living in the United States have access to a banking solution designed specifically for their needs: Passbook by Remitly . Built by Remitly , the largest independent digital remittance company in North America, Passbook is eliminating the barriers and complexity of opening a bank account, removing fees, enabling easy and secure international […]