Payments News

On The Web

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Domains

Even in a Pandemic, Venmo Tells Conned Customers to Pay Up

“Venmo has fostered a compassionate public image during the pandemic, touting the popular payments app as a way to virtually tip out-of-work bartenders and give to hospitals. Yet it has taken a harder line against users who ended up overdrawing their accounts. In some cases, it has threatened to dispatch debt collectors against victims of […]
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Domains

Colombia using instant payments to drive financial inclusion amid the pandemic

“Transfiya, a blockchain-based funds transfer system, is transforming payments in Colombia for the benefit of underbanked and financially excluded consumers. Mobile wallet providers, a Facebook Messenger payments chatbot, WhatsApp and a cash pay-in/pay-out network are joining established banks in Transfiya to extend the reach of interoperable real-time P2P payments. A key accelerator for usage of […]
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Companies

Zelle Users at BofA Defy the Pandemic Gravity

“Payment card usage in the U.S. might be taking a hit during the Covid-19 pandemic, but not the Zelle person-to-person payments service among Bank of America Corp.’s customer base. Charlotte, N.C.-based BofA reported Thursday that it had 11.3 million active Zelle users, including small businesses, in the second quarter, up 41% from 8 million a […]
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Deals

TransferGo raises $10M additional funding, launches in 11 new markets

“TransferGo , the London-based international money transfer service, has raised another $10 million in funding, as it discloses that its customers numbers has surpassed two million. The round was co-led by Seventure, and Vostok Emerging finance, with follow-on funding from Hard Yaka, Revo Capital, and Bootstrap Europe. The startup is also announcing it has launched […]

On The Wires

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Domains

Xoom Launches Direct Money Transfers to Bank Accounts and Debit Cards in the U.S.

“Xoom , PayPal’s remittance service, today announced that customers in the U.S. can now send money directly to a recipient’s eligible bank account or debit card. Available to customers in the U.S., this new functionality allows people to securely send fast money transfers online or using the Xoom mobile app to support family and friends […]
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Domains

Mogo to Launch Mobile Peer-to-Peer Payment Solution

“Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or “the Company”), one of Canada’s leading financial technology companies, today announced plans to launch a mobile peer-to-peer (P2P) payment solution that will enable users to quickly and easily make and share payments with friends and family through Mogo’s mobile app. The Company expects to launch the solution in Q1 […]
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Companies

Consumers and Small Businesses Significantly Increase Use of Zelle® In 1st Half Of 2020

“Early Warning Services, LLC, the network operator behind Zelle®, today announced $133 billion was sent through the Zelle Network® on 519 million transactions during the first six months of 2020.  Physical distancing requirements continue to drive strong adoption of Zelle, with enrollment growing 17% over the prior year. Active sender usage – those who have sent […]