Alacriti has launched its enhanced version of Orbipay Payments Hub for ACH, bringing automation-first design and intelligent processing to the ACH payment lifecycle. By incorporating automation, intelligent routing, and real-time insights, Orbipay Payments Hub for ACH helps financial institutions reduce processing costs, improve transaction accuracy, and enhance customer experiences while maintaining compliance with Nacha operating rules and regulatory standards. This modern ACH processing solution provides seamless integration with the Federal Reserve’s clearing systems, supporting a full range of ACH transactions, including consumer payments, corporate disbursements, bill payments, and Same Day ACH. Designed with advanced automation, configurable exception handling, and embedded compliance tools, Orbipay Payments Hub for ACH helps financial institutions modernize operations and gain full visibility of their ACH performance while keeping their existing core banking systems or without changing their other existing systems. Beyond ACH, Orbipay Payments Hub provides a unified payments infrastructure to process wires and real-time payments through the RTP® network, the FedNow Service, and Visa Direct. By bringing these payment rails together under a single platform, financial institutions can optimize, report, and manage their operations today while preparing for future payment innovations. Key Features and Benefits of Orbipay Payments Hub for ACH: Automated exception handling, Seamless ecosystem integration, Configurable posting and settlement , Advanced fraud prevention and compliance, and Unified reporting and analytics.
Goldman Sachs-backed firm triples sales after US tariffs – TheStreet
Back Market, is a France-based operator of a global marketplace for refurbished electronics, including laptops and smartphones, aiming to help people do more with what they already have to avoid unnecessary carbon emissions and reduce tech waste. To date, it has sold more than 30 million refurbished devices across 17 markets, avoiding approximately 1.6 million tons of carbon emissions. Over the years, Back Market raised money from high-profile investors such as Goldman Sachs, Aglaé Ventures (the venture arm of Group Arnault), and Eurazeo Growth. The platform is available in 13 European countries, Australia, Japan, South Korea, the UK, and the United States. The company’s CEO Hug De Larauze told that Back Market sales have tripled in a single week amid Trump’s tariff announcement. “Maybe some people rushed into [replacing their smartphones or computers] earlier, because they were afraid it’s going to cost so much more weeks from now,” de Larauze said. According to Hug De Larauze, it is possible that more Americans could start choosing used or refurbished devices if tariffs raise prices. “This is a big opportunity to change the way American people consume this stuff, because the incentive has never been as high to avoid those tariffs,” he says. Dan Ives, Wedbush Securities’ global head of technology research, agrees that prolonged tariffs could result in a significant jump in short-term sales of used and refurbished devices, especially smartphones. However, in the longer run, Ives is skeptical that a typical American consumer would permanently shift to refurbished alternatives. “We believe 80% to 90% of consumers like buying a new smartphone, [and] buying behavior is hard to change,” Ives says. Some analysts estimate that tech conglomerates such as Apple might need to raise their prices by hundreds of dollars per product, depending on the eventual electronics-specific tariffs. If that happens, it will be interesting to see how a typical American consumer would remain faithful to the habit of buying new devices.
Lowe’s launching omnichannel initiative that blends social media posts, mail and poster, to express gratitude to first responders and volunteers who rebuild its hurricane-damaged store
Lowe’s Companies Inc. is celebrating the reopening of a hurricane-damaged store with a nationwide initiative to show gratitude to first responders, volunteers and nonprofits. As the home improvement giant prepares to reopen its East Asheville, N.C. store, which was heavily damaged by Hurricane Helene, the company is asking consumers nationwide to help share one million “thank yous” for personnel who help rebuild after disasters by May 2. Lowe’s is calling the effort “#BuildThanks.” To participate, consumers can post a message of gratitude on social media using the hashtag #BuildThanks. They can also deliver or mail a thank you poster, sign or note to Lowe’s East Asheville, N.C. store on Tunnel Road, with sample signs available for download at the Lowe’s corporate site. Lowe’s will post the culmination of the initiative on its social media channels on Saturday, May 3. The retailer invested nearly $14 million in response and recovery efforts in the wake of Hurricanes Helene and Milton and $2 million to support wildfire relief in Southern California. The wildfire donation assisted first responders and nonprofits that responded to critical needs such as supporting evacuations, emergency shelter and distributing urgently needed supplies like water, N95 masks, air purifiers, ash sifters and storage.
Capital One 1Q25: Credit card purchase volume is up 5%, auto loan originations are up 22%
Capital One Financial Corporation announced net income for the first quarter of 2025 of $1.4 billion, or $3.45 per diluted common share, compared with net income of $1.1 billion, or $2.67 per diluted common share in the fourth quarter of 2024, and with net income of $1.3 billion, or $3.13 per diluted common share in the first quarter of 2024. Adjusted net income(1) for the first quarter of 2025 was $4.06 per diluted common share. “Last week, we received regulatory approval for our acquisition of Discover and we’re fully mobilized to complete the transaction on May 18th,” said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer. “The combination of Capital One and Discover will create a leading consumer banking and payments platform with unique capabilities, modern technology, and powerful brands. It leverages Capital One’s technology transformation and digital capabilities across a significantly larger customer franchise. And it offers the potential to enhance competition and create significant value for merchants and customers.
Credit Card
- Ending loans held for investment up $6.6 billion, or 4%, year-over-year; average loans held for investment up $6.8 billion, or 5%, year-over-year
- Purchase volume up 5% year-over-year
- Revenue up $417 million, or 6%, year over-year
Consumer Banking
- Ending loans held for investment up $3.8 billion or 5% year-over-year; average loans held for investment up $3.4 billion, or 5%, year-over-year
- Ending deposits up $24.1 billion, or 8%, year-over-year
- Auto loan originations up $1.7 billion, or 22%, year-over-year
A huge portion of the integration will involve Capital One bringing Discover up to speed on the technology infrastructure it has spent years modernizing; however, running a payment network is new to Capital
Days after winning regulatory approval for its blockbuster acquisition of Discover Financial Services, Capital One Financial said that its expectations for what the integration will cost haven’t changed. The $35 billion transaction has been and will continue to be costly, but Capital One Chairman and CEO Richard Fairbank said that the $1.5 billion estimate for integration expenses during 2027 remain intact — except shifted out by about six months to account for the deal’s longer-than-expected regulatory review. Fairbank told that he thinks this transaction is different from other acquisitions, where the goal is “to take two companies, squash them together and rip out the costs.” “I think that Discover brings us a growth platform, both on the network side and with respect to their card franchise, that allows us to preserve the best of what they do, leverage a lot of Capital One’s capabilities that we bring and build something really special,” Fairbank said. Upon the closing of the Discover merger, the combined company will have $660 billion of assets. Capital One will own a massive chunk — estimated to be between one-fourth and one-third — of the subprime card market. And it will operate Discover’s payment network, instead of having to use Visa’s or Mastercard’s — an element of the transaction that Fairbank has called “the holy grail.” But the road to getting there isn’t completely nailed down. A huge portion of the integration will involve Capital One bringing Discover up to speed on the technology infrastructure it has spent years modernizing. Meanwhile, Discover will take Capital One “back to the world of data centers,” Fairbank said. He added that his bank has experience ramping up the tech stack of a credit card company. However, running a payment network is new to Capital One, and “very complex and very high stakes,” Fairbank said. Another key facet of the merger is Capital One’s effort to increase acceptance of Discover’s payment network internationally. Fairbank characterized this spending as a long-haul type of investment, measured in “a whole bunch of years.” Kyle Sanders, an analyst at Edward Jones, thinks it will take several years for the merger’s benefits to manifest themselves, and that near-term integration challenges “will present obstacles.” Last week, the deal earned the approval of the Federal Reserve and Office of the Comptroller of the Currency, but regulators ordered Discover to pay more than $1 billion in fines and restitution in connection with the company’s earlier overcharging of merchants. When asked about recent regulatory developments, Fairbank said that Capital One knew risk management would be “a big investment,” but the company hasn’t changed its outlook on how much those efforts will cost.
TD announces a new Layer 6 office in New York City to . drive the bank’s ability to deploy advanced Machine Learning solutions
TD Bank Group announced it will open a new Layer 6 office in New York City. As TD’s AI research and development center, Layer 6 has driven TD’s ability to deploy advanced Machine Learning solutions since it was acquired by TD in 2018. Currently operating from its head office in Toronto’s MARS Innovation District, the new Layer 6 office will now grow to more closely support TD Bank, America’s Most Convenient Bank®, as well as TD’s other U.S. based operations. It will also allow TD to take advantage of an expanded pool of world-class talent and further cement its leadership and competitive advantage driving innovation in banking through AI. The Layer 6 office will formally open later in 2025 with a mixture of an initial 20 data scientists, applied machine learning scientists, GenAI implementation specialists, and others, who will sit at TD’s New York office, One Vanderbilt. “Our U.S. expansion of Layer 6 underscores our commitment to deepening our presence in New York City and investing in the future of innovation,” said Leo Salom, President and CEO of TD Bank. “The new Layer 6 office establishes a strong foundation for advancing our GenAI capabilities and bringing critical expertise and delivery in-house.”
Q1 2025 Homeownership Program Index (HPI) reports the number of entities offering homebuyer assistance programs increase by 55, offering more ways to qualify buyers and close loans in a tough market
Down Payment Resource (DPR) released its Q1 2025 Homeownership Program Index (HPI) report, which saw the number of entities offering homebuyer assistance programs increase by 55 year-over-year. The number of programs increased by 43 during the first quarter, bringing the total number of available programs to 2,509 — the highest recorded by DPR. That marks a 2% increase from Q4 2024. Of the programs, 952 programs (38%) are available to repeat buyers, 240 programs (10%) do not have income restrictions and 19 programs support first-generation homebuyers, an increase of 16% over the last quarter. Lenders can use down payment assistance (DPA) to lower a homebuyer’s loan-to-value (LTV) ratio by an average of 6%. The average benefit is $18,000. “Rates are still high and prices keep climbing, but we’re seeing expanded program offerings, new providers and greater flexibility in how funds are used — not just for down payments but also to cover closing costs, lower the rate or meet other buyer needs,” said Rob Chrane, founder and CEO of DPR. “More programs now include manufactured and multi-family homes, opening new paths to affordability and steady income. For lenders, that means more ways to qualify buyers and close loans in a tough market.” ”Other homebuyer assistance” programs increased 35% from the previous quarter, below-market-rate (BMR)/resale-restricted programs, which offer housing at prices lower than the open market, with restrictions on resale to ensure affordability for future buyers, typically low-to moderate-income households, increased 18% and grant programs grew 7%. Other stats:
- 80% of DPAs in Q1 were deferred payment programs, a 3% increase from the previous quarter. Deferred payment loans, which are often forgivable, mean that borrowers don’t make monthly payments, and the balance is typically due when they sell or refinance or the loan matures.
- Over half (53%) of DPAs in Q1 offered partial or full forgiveness over time, as long as the homeowner meets certain requirements, such as maintaining primary residency.
- Of the programs, 990 (39%) were offered through local housing finance agencies (HFAs), a number that was virtually unchanged from the previous quarter. Nonprofits accounted for 21%, a 2% increase over Q4 2024. State FHAs represented 18%.
- Manufactured housing programs saw growth, increasing from 914 in Q4 2024 to 971 in Q1 2025. For multifamily housing, a total of 833 programs were available, marking a 3% increase from Q4 2024. Of these, a growing number of programs support purchasing three-unit homes (562) and four-unit homes (536).
- A total of 20 programs offered special funding to surviving military spouses, an 18% increase from the previous quarter, while energy efficiency programs grew by 17%. Other incentive programs included 69 for educators, 56 for protectors (jobs focused on safeguarding people, property or information), 50 to assist military veterans and 50 for Native Americans.
- Of the 2,509 homebuyer assistance programs, 81% of programs are funded, 10% of programs are inactive, 4% of programs have a waitlist for funding and 5% of programs are temporarily suspended.
- Of the programs, 74% in the database are for down payment or closing cost assistance, 10% of programs are first mortgages, 3% of programs are Mortgage Credit Certificates (MCCs) and 13% are other program types.
Nacha: Same Day ACH Value Leaps 25% YoY in First Quarter as the payment method continued to gain acceptance
Same Day ACH saw double-digit increases in both volume and value during the first quarter as the payment method continued to gain acceptance.
The volume of Same Day ACH payments rose 19.1% year over year to reach 326 million, while the value increased 24.8% to reach $897 million, Nacha, which governs the ACH Network, said in a Wednesday (April 23) press release emailed to PYMNTS.
“As Same Day ACH nears moving $1 trillion in a quarter, it is clear that this faster payment method is gaining acceptance across a range of use cases,” Nacha President and CEO Jane Larimer said in the release.
According to the Nacha website, Same Day ACH is commonly used by businesses, government entities and consumers for purposes like urgent bill pay, payroll, insurance claims and disaster relief, refunds and reimbursements, and tax payments.
Standard ACH also continued to grow, according to the press release.
During the first quarter, compared to the same quarter a year ago, ACH payment volume rose 4.2% to 8.5 billion, while the value increased 6.6% to $22.1 trillion, the release said.
Among the major transaction types, the volume of person-to-person (P2P) leapt 20.4% to 109 million, B2B jumped 9% to 1.9 billion, healthcare rose 8.1% to 125 million and internet climbed 6.9% to 2.8 billion, according to an infographic released Wednesday.
Goldman Sachs extends $100M program for rural small businesses to Utah, including $75 million for small business loans
Goldman Sachs announced applications are open in Utah for its $100-million investment initiative to provide education and loans to small businesses in rural communities.
The initiative is an extension of the global investment firm’s 10,000 Small Businesses program, which aims to provide education, capital and support services to small-business owners through a 12-week curriculum. After seeing the success the program had in urban areas, Goldman Sachs committed $100 million in 2023 to expand the program to rural communities in 20 states in the next five years. Applications for the program are open through July 16 and can be found online. Utah’s first program cohort will begin in October. “Businesses outside of the metro Salt Lake area … can now all access this best-in-class educational program, access to capital and an all-important peer network,” said Asahi Pompey, global head of Corporate Engagement at Goldman Sachs. According to Goldman Sachs, 86% of small businesses in rural communities plan to grow, but less than 10% believe they have the needed resources. The $100 million investment includes $75 million for small business loans. Goldman Sachs’ 10,000 Small Businesses program has produced 16,600 graduates nationwide in its 15-year career, far surpassing its original goal. Salt Lake City’s small businesses program celebrated the graduation of its 1,000th small business on Thursday at a graduation ceremony for its 35th cohort, made up of nearly 30 business owners. According to Pompey, the cohort has provided 24,000 jobs to Utahns and made $2 billion in revenue. The success of the 10,000 Small Businesses program in Salt Lake City has reflected the state’s overall success in business, according to Pompey. “What we’ve seen in Utah has been really incredible with our 1,000 graduates. They are growing their business faster than other demographics. They’re creating more jobs for families and communities in the state,” she said. Looking forward, Goldman Sachs’ 10,000 Small Businesses is working toward graduating 20,000 entrepreneurs from the program.
Morgan Stanley research shows Apple Intelligence platform has been downloaded and engaged with by 80% of eligible U.S. iPhone owners in the last six months and has an above average NPS of 53
Consumers’ perception of Apple’s AI platform is more favorable than that of investors, Morgan Stanley said in a research note. Morgan Stanley said it found that the Apple Intelligence platform has been downloaded and engaged with by 80% of eligible U.S. iPhone owners in the last six months, has an above average net promoter score of 53, and is characterized by iPhone users as “easy to use, innovative, and something that improves their user experience.” “While much of the public critique of Apple Intelligence is warranted, and investor sentiment and expectations on Apple’s AI platform couldn’t be lower, our survey of iPhone owners paints a more positive picture,” Morgan Stanley said in the note. Since September, the share of iPhone owners who believe it is extremely or very important to have Apple Intelligence support on their next iPhone rose 15 points to reach 42%. Among iPhone owners who are likely to upgrade their device in the next 12 months, the percentage saying that about the AI platform rose 20 points to reach 54%, according to the note. Morgan Stanley also found that consumers are willing to pay more for Apple Intelligence than they were in September. Those who have used the AI platform are now willing to pay an average of $9.11 per month for it, a figure that’s 11% higher than the $8.17 average seen in September, per the note. While we don’t expect Apple to put Apple Intelligence behind a paywall until the platform is more built out, the potential long-term monetization of an Apple Intelligence subscription could reach tens of billions of dollars annually when considering a 1.4B global iPhone installed base, 32% (and growing) of US iPhone owners have an Apple Intelligence support iPhone, and users are willing to pay up to $9.11/month for Apple Intelligence,” Morgan Stanley said in the note.