Circle’s USDC to Become “First and Only” USD Stablecoin in Japan
In the latest step toward global stablecoin adoption, the crypto subsidiary of Japan’s SBI financial services company will soon support Circle’s USDC stablecoin. SBI Group is a vast conglomerate with businesses spanning industries from banking to biotechnology. Its crypto division, VC Trade, was launched almost a decade ago and currently supports digital assets like bitcoin, […]
How Merchants Are Driving the Rapid Adoption of Tap-to-Phone
Visa’s Tap-to-Phone technology has seen a threefold increase in adoption over the past year, driven by widespread support from millions of merchants and consumers alike. Tap-to-Phone transforms any smartphone into a payment terminal using its near-field communication (NFC) capabilities. Unlike traditional tap-to-pay technology—where an NFC-enabled payment terminal read a card’s credentials when tapped—Tap-to-Phone allows the […]
Item Processing Migration Success: A Client Case Study
Many financial institutions are feeling the urgency to make headway on payments modernization and digital transformation initiatives. However, all the factors involved in outsourcing an essential function like item processing might make a migration project seem like a daunting task. In a recent PaymentsJournal podcast, Candace Burleson, Senior Implementation Analyst at Fiserv, Amina Moyer, SVP […]
As Cyberscams Grow, So Do Protections Against Them
More than two-thirds of U.S. adults have experienced a financial scam or fraud in their lifetime, with nearly a third falling victim in the past year, according to research from Bankrate. However, there’s some good news—more consumers are taking steps to protect themselves from scams. The financial fraud survey from Bankrate found that 34% of […]
Amazon Expands Pay-by-Palm Reach from Retail to Healthcare
First introduced in retail checkouts, Amazon is now bringing its contactless palm-scanning technology to the healthcare sector. Patients at NYU Langone Health facilities will soon be able to check in for appointments using the Amazon One biometric authentication system. This marks the platform’s first application in healthcare and its largest deployment in any industry. NYU […]
The True Costs of Poor Payment Experiences (And How Modern Technology Can Help)
For more than 15 years, PayNearMe has helped billers optimize the payment experience. In a PaymentsJournal podcast, John Minor, PayNearMe’s Chief Product Officer, joined Brian Riley, Co-Head of Payments at Javelin Strategy & Research, to discuss how poor payment experiences contribute to rising operational costs and drive up the total cost of acceptance. Lowering the […]
Seven-Hour ECB Outage Leaves Trillions of Euros in Limbo
A malfunction in a critical system at the European Central Bank (ECB) left more than three trillion euros up in the air for hours. The Target 2 (T2) system settles $3.12 trillion in payments from businesses and consumers, as well as investment trades. The ECB stated that a “hardware defect” in T2 caused a system-wide […]
FedNow to Raise Transaction Limit, Offer New Risk Features
FedNow will raise the limit on many of its real-time transactions to $1 million later this summer. It will also implement new risk mitigation features to help financial institutions feel more confident in sending payments at the higher limits, a key factor in the network’s growth. The service’s new account activity threshold functionality will allow […]
Stealing Children’s Identities: The Threat That Parents Overlook
In January, hackers launched a cyberattack on what might seem an unlikely target: PowerSchool, a provider of student systems for the educational industry. While the young individuals tracked by PowerSchool may not have much money of their own, their identities are worth a great deal to cybercriminals. A report from Javelin Strategy & Research, 2024 […]
Raise Gets Funding to Develop Blockchain-Based Digital Gift Cards
Financial services providers across the spectrum have increasingly sought to leverage digital asset technologies over the past few years. Now, Raise plans to launch its digital gift card platform, built on blockchain technology. The Chicago-based startup raised $63 million in its latest funding round, which further bolsters previous investments from companies like PayPal and Accel. […]