Payments News

On The Web

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Providers

Coronavirus Prompts Renewed Calls for Postal Banking, Faster Payments

“Federal efforts to provide stimulus checks to Americans hit by the coronavirus’ economic fallout have revived calls for better government-backed financial delivery systems. Millions of households haven’t received their $1,200 payments nearly a month and a half after Congress authorized them. That has led some progressives and other observers to demand reforms to improve underbanked […]
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Deals

Modulr raises £18.9M for its ‘Payments as a Service’

“Modulr, the U.K. fintech that offers ‘Payments as a Service’ as an alternative to commercial and wholesale transaction banking, has secured £18.9 million in growth funding. Leading the round is Highland Europe, with participation from existing investors including Frog Capital. Last year, this saw Modulr became one of only a few non-banks to gain direct […]
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Providers

Google and Gates Foundation Join Forces to Promote Digital Payments in the Developing World

“A coalition of nonprofits and tech companies including Google and the Bill and Melinda Gates Foundation want to [make] it easier for developing countries to build real-time digital payments systems. On Wednesday, they announced the formation of the Mojaloop Foundation, which will develop and promote a free, open-source real-time payments platform intended for nations and […]

On The Wires

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Companies

Western Union Expands Global Real-Time Payments Network

“Western Union, a leader in cross-border, cross-currency money movement and payments, today announced continued expansion of its Global Network for real-time money-movement and payments, benefiting the Company’s consumers and clients across its branded money transfer and payments business as well as its expanding white-label business. Western Union’s vast global retail network of over 550,000 agent locations […]
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Global

Deutsche Bank Launches PromptPay Instant Payments in Thailand

“Deutsche Bank AG, Bangkok Branch today announced the launch of PromptPay instant payments in Thailand. As part of the phase one roll-out, the bank will be offering its clients instant collections throughout Thailand. Later in the year, phase two will enable instant payments to be made throughout the country. PromptPay collections for corporates are fast […]
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Systems

Volante Technologies Joins U.S. Faster Payments Council

“Volante Technologies Inc., a global provider of payments and financial messaging solutions to accelerate digital transformation, today announced that it has officially joined the U.S. Faster Payments Council (FPC), a membership organization devoted to advancing faster payments in the United States. As a member of the council, Volante will be joining as a voting member in the […]
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Providers

100 Financial Institutions to Provide Real-Time Payments With Jack Henry

“Jack Henry & Associates, Inc. (NASDAQ: JKHY ) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. The company announced today that there are more than 100 financial institutions implementing its faster payments hub, JHA PayCenter™, to connect to Early Warning Services’ Zelle Network® and The Clearing House’s […]
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Domains

Redstone Federal Credit Union Taps Fiserv for P2P Payments

“Turnkey Service for Zelle will enable P2P payments for Redstone members. This solution streamlines the onboarding process for financial institutions, helping to reduce costs and accelerate time-to-market for Zelle, which gives members a fast, safe and easy way to send money to and receive money from those they know and trust. In addition, Redstone is adding […]
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Companies

ACI Worldwide Teams with Wundr to Power Cross-Border Payments with Instant Settlement for Mid-Tier Retailers

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions , today announced that Wundr, a retail payments platform that fuses B2C digital payments and B2B business banking, will power its payments with ACI’s UP eCommerce Payments solution . ACI’s secure eCommerce technology, integrating digital payments with multi-layered fraud management […]