Payments News

On The Web

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Systems

Bank credit card profits in question as US consumers pay down debt

“US consumers are continuing to pay down their credit cards as the pandemic crimps spending opportunities, leaving banks fretting over the outlook for one of their most profitable businesses. Total card loans held by US banks stood at $755bn in the last week of October, according to the Federal Reserve — $100bn lower than when […]

On The Wires

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Systems

Payment Alliance International Adds Bitcoin to Cash Capabilities

“Payment Alliance International ( PAI ), the U.S. leader in ATM portfolio management tools and services, today announced it has entered into a strategic partnership with B4U Financial to better serve liquidity needs of the fast-growing cryptocurrency market. PAI’s nationwide fleet of ATMs will be equipped with BitLoad4U (B4U) capabilities, including the ability to redeem […]
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Global

Circle Partners with Bolivarian Republic of Venezuela and Airtm to Deliver Aid to Venezuelans Using USDC

“Through a collaboration with the Bolivarian Republic of Venezuela, led by President-elect Juan Guaido, U.S.-based fintech innovator Airtm, and coordination with the US government, we were able to put in place an aid disbursement pipeline that leveraged the power of USDC — dollar-backed, open, internet-based digital currency payments — to bypass the controls imposed by […]
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Systems

Consumers Turn to Digital Gift Cards Ahead of 2020 Holiday Season

“According to the October 2020 Gift Card Gauge released today by Fiserv, Inc., 65% of U.S. consumers say they will purchase a digital gift card on Black Friday if a merchant offers an incentive, one of several key findings in the new survey…The Gift Card Gauge from Fiserv, a leading global provider of payments and […]
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Systems

Nacha’s New Resource Center Assists Corporate ACH Users

“Businesses and other organizations play an important role in the modern ACH Network, which is why Nacha has created a new ACH Rules for Corporates Resource Center dedicated to assisting them. Nacha’s ACH Rules for Corporates Resource Center is a one-stop hub for corporate end users to keep up with developments to the Nacha Operating […]
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Systems

ECB announces independent review of payments system outage

“The European Central Bank (ECB) will launch an independent review of an incident that affected its real-time gross settlement system TARGET2 on 23 October 2020, causing an outage for almost 10 hours. An initial investigation determined that a software defect in a network device was the specific technical cause of the incident. The independent review […]
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