Circle Secures Bank Charter, Lays Groundwork for Expansion
Circle is taking a significant step toward becoming a federally regulated institution. The USDC issuer has won approval from the Office of the Comptroller of the Currency (OCC) to establish its own chartered bank, giving it the ability to custody its own reserves while stopping short of allowing it to accept deposits or issue loans. […]
How Software Turned Payments Into a Seamless Part of Commerce
Payments used to be a distinct step in a transaction. Increasingly, they’re just another feature of the software people already use. As payment capabilities have become embedded in everything from point-of-sale systems to ERP platforms and digital wallets, they’ve faded into the background while enabling entirely new business models—from self-service checkout and subscriptions to, potentially, […]
Swift’s Blockchain Ledger Opens New Possibilities for Global Payments
Swift has launched a blockchain-based ledger, allowing 17 international partner banks to send cross-border payments using tokenized deposits as the traditional banking industry accelerates its adoption of blockchain technology. Banks across six continents will be able to use the Swift ledger to process payments outside normal banking hours. The system is designed to interoperate with […]
Inside the Tech Shift Redefining How Credit Unions Operate
Credit unions don’t want to be disadvantaged by their technology. They aim to offer members the same capabilities available at competing financial institutions. A critical part of that is having an ecosystem they can plug into—one that allows them to run their operations efficiently while staying competitive. To help credit unions achieve that, Velera recently […]
N.C. Banks Can Freeze Some Payments for 30 Days
Banks in North Carolina now have expanded authority to delay certain customer transactions if they suspect financial exploitation. The new law is intended to prevent fraud, but some worry it could also delay legitimate payments. The law allows banks and credit unions to refuse or pause transfers and withdrawals from the accounts of older adults […]
What Embedded Payments Can Solve for Small Businesses
The most expensive resource in any small business isn’t capital—it’s time. And increasingly, that time is being swallowed up by something owners never set out to manage: payments. The last thing business owners want to do is devote more energy to managing payment processes. Many small businesses have discovered business management software with embedded payment […]
Illinois Becomes First State to Tax Crypto Transactions
Illinois has become the first state to tax digital asset transactions, creating a new cost that could apply every time crypto changes hands. The Digital Asset Tax Act, added to the state’s sprawling annual budget bill at the last minute, imposes a 0.2% tax on the value of digital assets involved in each covered transaction. […]
Build Momentum Behind Zelle for Business
One in three U.S. small businesses already use Zelle in some capacity. Yet despite that level of adoption, few business owners view it as a true alternative to Square, PayPal, and other modern payments platforms. That gap represents an opportunity for banks and credit unions. Rather than treating Zelle as simply another way to send […]
Apple Resumes Card Payments in India Following RBI Rule Changes
After a five-year hiatus brought on by disputes with the Reserve Bank of India (RBI), Apple is quietly beginning to accept debit and credit card payments in India again. The move appears to pave the way for the long-awaited launch of Apple Pay in the country. The pause followed RBI rules governing online recurring payments, […]
The Growing Importance of Payments Risk Expertise
Payments risk is no longer confined to a single payment rail or transaction type. Financial institutions and businesses today must manage risk across the ACH Network, checks, wire transfers, real-time payments, and a growing number of emerging payment methods. As the payments ecosystem becomes more interconnected, professionals need a broader understanding of how risks differ […]