Networks Processors & PSPs

Google appears to be working on a new feature that would allow users to add a credit card to Google Wallet simply by tapping the card to their phone. The current process of adding a card to Google Wallet typically involves either scanning or manually entering card information, then going through some sort of verification with your bank. It’s not a difficult process, but it’s one that Google seemingly wants to simplify by letting you add a card by tapping it to your phone.  Code added to the latest Google Play Services update directly explains a process in which you “hold your card” to the back of your phone, using NFC to add it to Wallet. This new code was apparently found alongside the existing “Add payment method” screen, taking out any doubt that it’s for anything but adding a new payment card to the app. Presumably, users will still need to verify with their banking institution and complete other steps, but this would provide a quick and easy way to end the card information. It’s also a fairly familiar process as some banking apps, the Capital One app as one example, use NFC to interact with physical cards.

Read Article

WEX has added a feature that enables fleets with electric vehicles (EVs) to use the WEX Fleet Card at private chargers. With the addition of this feature, WEX EV Depot, WEX now offers an EV charging and payment solution that encompasses depot, public and at-home charging locations. “As fleet managers shift from internal combustion engines to EVs, they face the challenge of consolidating data across different types of chargers and fueling stations for operational efficiency,” Carlos Carriedo, chief operating officer, Americas Payments & Mobility at WEX, said. “With WEX EV Depot, we are helping customers navigate the complexity of infrastructure rollout and giving them the tools to operate efficiently at scale with a 360-degree solution.” WEX EV Depot is part of an integrated reporting system that allows fleets to use their WEX fleet credit line to manage EV charges from any charging source, reducing the number of cards they need. The feature also allows fleets to direct EV drivers to their preferred depot or private charging locations and schedule charging overnight. For drivers, WEX EV Depot enables EV charging payments at private chargers and the WEX public network, provides a payment option via smartphones and reduces the number of cards needed to access chargers.

Read Article

The ACH network, known as the backbone of the US payments infrastructure, is evolving to become a flexible, programmable, and fraud-aware payment rail. This is to ensure the needs of new business models are met across on-demand payouts, gig economy payments, or instant lending disbursements. The expansion of Same Day ACH and the increase of transaction limits to $1 million, is a substantial shift for digital payments in the US. Agile development and scalable workflows should be prioritised, especially as ACH starts to be used for payments across business models that involve complexities such as split payments, multi-party reconciliation, or recurring bills.  ACH will remain the underlying rail, but with enhancements such as support for virtual accounts, automated exception handling, and accurate reconciliation, ubiquity can be bolstered. In line with this, it is important to reiterate that while ACH is not a real-time network, it is to its advantage that it is a key component of the multi-rail engine. ACH will continue to be the backup mechanism when instant payments fail and an option when requiring a cost-effective method for recurring and batch transfers. Taira Hall, head of payments strategy at Citizens, highlighted that the “ACH network’s focus on speed and availability” will be an “evolution catalyst of the payments landscape with the potential to unlocked new use cases for emerging businesses.”

Read Article

Nacha and the U.S. Faster Payments Council announced that 161 payments professionals successfully passed the inaugural Accredited Faster Payment Professional (AFPP) exam, marking an important milestone in demonstrating expertise and commitment within the faster payments ecosystem. The AFPP accreditation, developed as a collaboration between Nacha and the U.S. Faster Payments Council (FPC), with assistance from Payments Associations and other leading payments industry experts and stakeholders, sets a new standard for professionals dedicated to advancing secure, efficient and innovative faster payments solutions. The exam focuses on a variety of payments rails used across the United States, including Same Day ACH, FedNow, RTP and Push-to-Card Debit Card Networks. This credential demonstrates the growing emphasis on professional education and industry excellence in an era where faster payments are becoming a cornerstone of commerce and economic activity. “Passing this exam is a significant feat, and these individuals have validated their expertise and proven their passion for shaping the future of payments,” said Jane Larimer, President and CEO of Nacha. 

Read Article

Xero launched the ability for its US customers to pay bills within Xero as part of its strategic partnership with BILL, a leading financial operations platform for SMBV’s. Xero and BILL are helping small businesses to streamline their accounts payable and make cashflow management even easier and more accessible. The new online bill payment capabilities, powered by BILL, are available to all US Xero small business customers. They can now pay their bills without leaving the Xero platform. This helps customers save time on manual workflows, all while building an accurate picture of their cash flow with even more insights to make informed business decisions. These insights are crucial in preparing US small businesses for the future, 48% of whom said they felt some cash flow pressures over a 12-month period. Xero online bill payments, powered by BILL, include: The ability to pay multiple bills at once in just a few clicks, all without leaving Xero; Access to BILL’s proprietary network of 7.1 million members — enabling small businesses to use the network to find their vendors and easily and efficiently start paying them; The ability to track the status of all bill payments made from Xero. This provides a digital record of which vendors have been paid, and when; A more secure way for small businesses to pay their bills, with two-step verification to help protect payments and financial data from fraud

Read Article

Paze, the digital wallet launched last year by Early Warning Services, has loaded 150 million debit and credit card accounts onto its nascent system. Now, those bank customer card holders can opt into the wallet if they’re interested in using it. More big banks are expected to link to Paze later this year, Early Warning’s Chief Partnership Officer Eric Hoffman said.  He spoke alongside Deva Annamalai, Fiserv’s head of client strategy and solutions for digital payments. The processor is partnering with EWS to attract more banks to offer the digital wallet to their customers for online purchases. With Fiserv, there is “exposure to thousands of banks,” Hoffman said, explaining how additional banks will disclose working with Paze as they announce that the service is available to those banks’ customers. As Fiserv helps bring its bank clients onto the Paze system, it will benefit from the increased transaction volume it processes through the digital wallet. Some 70% of U.S. consumers don’t use a digital wallet so there is a broad opportunity to attract new users without having to do battle with some of the long-time rivals in the field, namely Apple Pay and PayPal, Hoffman said. Paze will be directed at consumers between 35 and 65 years-old who tend to be wealthy, and have been “protectionist” in their thinking about digital wallets, Hoffman said. This group has generally avoided using digital wallets so far, but they’re likely to sign up for Paze if it’s offered by their banks, just like they did with Zelle, he said. 

Read Article

Finastra has launched its Transformation Service, supporting the translation of MT formatted messages to the new ISO 20022 MX messaging standard, among others. The Transformation Service is available to Finastra’s existing and new Financial Messaging customers looking to comply with Swift’s November 2025 deadline for the new cross-border payments and reporting plus (CBPR+) rules. Developed in response to customers’ needs, Finastra’s Transformation Service is extensible to a wide range of message standards. Whether for banks or other financial institutions adhering to mandated migrations or corporate customers needing multiple format translations, the service extends capabilities to meet diverse financial messaging requirements. Embedded as an API-based microservice within the Finastra Financial Messaging platform, the Transformation Service is available to customers running on a SaaS model through managed workflows. It’s also available as a consumable API via Finastra Financial Messaging’s new Self-Serve Portal, where users can access the microservice with a “try before you buy” feature. The service stays up to date with annual market infrastructure-driven message standard releases and offers flexible enrichment and message handling options to ensure a smooth transformation process. Radha Suvarna, Chief Product Officer, Payments at Finastr said, “Our Transformation Service will enable a smooth transition to MX messaging, maintaining operational continuity, and it provides flexibility for strategic planning of future system upgrades.”

Read Article

Cross River Bank launched  its new International Payments solution, now processing transactions with Aion, a modern business finance platform designed to simplify financial management. Leveraging Cross River’s proprietary banking core, API technology, and industry-leading compliance and AML/CFT integrations, this new International Payments solution offers seamless, efficient, and cost-effective cross-border transactions for businesses. Cross River’s International Payments platform is rail-agnostic, dynamically selecting the most relevant payment rails based on transaction size, currency, and corridor. This ensures businesses and consumers benefit from faster processing times so consumers receive their money when and where they need it. “Our goal is to simplify cross-border payments by removing technical barriers that limit global scalability,” said Luca Cosentino, Head of Product at Cross River. “Our International Payments capability uses a flexible, rail-agnostic approach to enable fast, cost-effective, and secure transfers—whether through SWIFT or local bank rails. Aion, an early adopter in B2B and B2C use cases, enables businesses to modernize cross-border transactions Satish Palvai, Founder and CEO at Aion said, “With Cross River’s International Payments, we’re leveling the playing field by giving growing businesses access to the same speed and efficiency once reserved only for large enterprises.” With strict adherence to regulatory standards, Cross River’s International Payments platform integrates advanced AML tools and compliance solutions. Fully routable subledgers and detailed customer records allow businesses to monitor transactions on a sub-entity level, ensuring security and reliability.

Read Article

Two new Samsung Wallet features in the pipeline including a new installment payment function and a money-sending tool, are likely to change how users interact with the app on a daily basis. The installment payments option will allow users to pay using the Samsung wallet in the conventional tap-to-pay method. In action, nothing feels different about using the tool. The main difference here is that installment payments will need to be made after the fact, at Splitit’s discretion. The disclosure notes that the option will be available for all Visa and Mastercard purchases, which should cover most storefront requirements. Send Money also appears in the leaked screenshots. According to the instructions in Samsung’s app, the function will work with a simple tap on another phone or a debit card. It’s likely that users will first need to enter some information prior to tapping, like the money amount. After that, an NFC tap will activate the transfer. The neat detail here is that one can tap someone else’s debit card to send them money. Samsung Wallet’s installment payments and money-sending features will likely be available soon for users in the US through a beta phase. It seems the beta is still open for enrollment, which would give you access to the two new features.

Read Article