For Credit Unions Seeking to Digitalize, Catalyst Offers In-App P2P Solution
As digital financial products continue to evolve, many credit unions have struggled to keep up. To help address this issue, Catalyst, in partnership with Neural Payments, has developed a peer-to-peer (P2P) solution that integrates with credit unions’ mobile apps. This functionality may draw comparisons to Zelle, which allows customers of major financial institutions to send […]
UK Government to Shut Down Its Payments Regulator
The UK has announced it will abolish its payments oversight body, The Payment Systems Regulator (PSR), and transfer its functions to the Financial Conduct Authority (FCA). While many financial institutions have welcomed the move as a step toward reducing bureaucracy, it leaves the UK’s fraud-fighting framework up in the air. The government stated that its […]
Navigating an Omnichannel Payments Strategy
One of the biggest challenges in the payments landscape is that customer expectations are constantly evolving. Thirty years ago, customers knew they could expect one experience when shopping from a catalog and another when shopping in-store. But then, Amazon came along and redefined the process, shifting customer expectations forever. Now, the evolutionary wheel has landed […]
Intuit QuickBooks Adds Contactless Payments for Small Merchants
Amid strong competition to become the go-to point-of-sale provider for small- to medium-sized businesses, Intuit has introduced a solution that allows QuickBooks Online users to accept payments directly on their iPhone. While tap-to-pay tech isn’t new, Intuit’s offering integrates is that it seamlessly with its QuickBooks suite, allowing small business owners to reconcile payments and […]
Barclays Inches Closer to Offloading Its Payment Business
Barclays is close to selling its payment business to investment firm Brookfield Asset Management for £650 million. However, the details of the transaction suggest that Barclays may have been eager to offload the business at almost any price. It’s not uncommon for banks like Barclays to exit the merchant acquiring business when it operates as […]
Payments Modernization: Always Evolving with Tech
Financial institutions have been hesitant to embrace the array of payment types now available, from instant payments to stablecoins. However, these technologies offer more than just a faster means to an end—the operational efficiencies they deliver can have a significant impact across an organization. In a PaymentsJournal webinar, Nick Botha, Global Payments Sales Manager at […]
Questions Arise About Digital Euro Amid ECB Outage, Stablecoin Dominance
Many European lawmakers have advocated for the launch of the digital euro as a solution to the continued dominance of USD-backed stablecoins, but a recent outage at the European Central Bank (ECB) has raised concerns about the viability of the central bank digital currency (CBDC). Plans for the digital euro have been years in the […]
Medical Expenses, Vehicle Costs Drive Older Adults into Credit Card Debt
Many older adults carry credit card debt from month to month, but that is not necessarily a sign of profligacy. In fact, nearly half of respondents surveyed by AARP said they consistently have credit card debt, with many of the debts incurred due to unexpected expenses. Credit card debt remains the most common type of […]
Inefficient Cash Management Practices: 4 Hidden Costs Missing from Your Radar
Time is money. So, it isn’t lost on you that there’s a lot of expense involved with having your finance team log in to various bank portals, transfer balances onto spreadsheets, and perform tedious calculations just to get a handle on your cash position. But it turns out that managing cash manually and monitoring it […]
Rising Delinquencies on Car Loans Send a Warning to Lenders
In a cautionary signal for the lending industry, auto loans delinquencies are reaching new heights, particularly among borrowers with poor credit. A study from Fitch Ratings shows that the number of subprime auto borrowers who are at least 60 days past due on their loans has reached its highest level since the agency began tracking […]