Amid Increasing Competition, Zelle Leads the P2P Pack
Peer-to-peer (P2P) platform Zelle processed over $1 trillion in total payment value last year, which the company stated was the highest amount ever sent on a P2P payments platform in a single year. Overall, Zelle processed 3.6 billion transactions last year, marking a 25% year-over-year increase. The platform also added 16 million users, bringing the […]
As Powell Commits to No CBDC, Global Momentum Stalls
Fed Chair Jerome Powell’s firm stance that a central bank digital currency will not happen under his watch aligns the U.S. with other nations that have been slowing their own CBDC developments. While the Fed has no plans to pursue a CBDC, nearly a third of central banks worldwide have delayed their own digital currency […]
Fast, Secure, and Future-Ready: Santander Consumer’s Payments Tech Transformation
In the fast-changing world of financial services, modernizing payments technology has become essential for businesses looking to reduce costs, enhance customer experiences, and stay competitive. Santander Consumer, a full-spectrum auto lender, stands as a prime example of how bold leadership and strategic decision-making can transform payments infrastructure to deliver long-term value. On a PaymentsJournal podcast, […]
Klarna Adds JPMorgan Payments to Its Ever-Growing BNPL Pipeline
Nearly one million businesses will soon be able to offer buy now, pay later (BNPL) services to part of their menu of payment options. JPMorgan Chase’s payments processing unit, the world’s largest merchant acquirer, is partnering with Klarna to bring BNPL plans to its merchants. The service is set to roll out later this year, […]
More Merchants Consider Payments Technology Indispensable
An increasing number of merchants are shifting their view of payments systems from functional tools to key drivers of business growth. According to a survey conducted by PXP among U.S. and UK merchants, nearly two-thirds recognize payments technology as essential for expansion. Over half of respondents are actively leveraging payments tech to unlock new revenue […]
What’s Driving the Adoption of Virtual Cards?
Virtual cards have been a popular option for consumers for years, but they’re just now gaining traction among businesses. With an increasingly globalized economy, corporate entities are seeking efficient ways to move money across borders, and virtual cards are filling that role—maximizing efficiency while reducing costs. Mark Anthony Spiteri, Global Head of Card Business at […]
Mastercard Rolls Out Numberless Debit Cards in Australia
As part of Mastercard’s plan to remove the 16-digit number from its credit and debit cards by 2030, Australia’s AMP Bank is rolling out the first numberless debit card for small businesses. AMP, a mobile-first bank, is introducing the cards to both its small business and personal banking customers. Other Australian banks plan to launch […]
Artificial Intelligence: The Key to Saving More on Every Debit Payment
For everyday consumers, using a debit card is a simple and direct choice, transferring funds straight from their banking account. For businesses, however, it’s a different story. The Durbin Amendment to the landmark Dodd-Frank banking law, passed in 2010, limited the transaction fees that card processors could impose on businesses. This had the happy side […]
In a Fragmented Cross-Border Payments Landscape, Consumers Seek Stability
The rise of digital payments has made the world more connected than ever, driving demand for cross-border transactions. However, a report from Visa found that 77% of consumers still rely on multiple payment methods for international transactions. In fact, Visa revealed that the average consumer uses four different payment methods for cross-border payments, and two-thirds […]
Senate Debates the Debanking of Crypto
The U.S. Senate held hearings this week on whether the traditional banking industry has debanked accounts connected to cryptocurrency. While both Republicans and Democrats agree that debanking is a real problem, their approaches to a solution differ significantly. The crypto industry maintains that federal regulators have quietly supported its debanking, though there is no definitive […]