Singapore’s banking association has debuted an ePayments tool to help businesses transition from paper checks. EDP and EDP+, announced by The Association of Banks in Singapore (ABS) on Monday (July 28), follows an effort by the country’s financial regulator to phase out corporate checks. “The...
Mastercard has launched a service designed to protect account-to-account (A2A) payments against fraud. Mastercard A2A Protect, announced Monday and launching first in the U.K., is designed to offer fraud prevention technology and a “new clear” dispute resolution framework. “With Fast A2A comes fast fraud, and...
Samsung is bringing installment payments to its digital wallet in collaboration with Splitit. The new feature for the Samsung Wallet lets users pay over with their existing credit at in-store points of sale, according to a Thursday (July 24) news release. It marks the first time an...
A new report suggests that while initial cost concerns may deter merchants from adopting pay by bank, the long-term financial and operational benefits for consumer-facing businesses could be substantial, potentially surpassing the expenses of traditional payment methods. The pay-by-bank study, produced by PYMNTS Intelligence in...
Visa and ICBA Payments, a subsidiary of the Independent Community Bankers of America (ICBA), have renewed their 40-year partnership and plan to expand it by providing community banks with streamlined access to the Visa Direct real-time money movement platform. Streamlined access to Visa Direct will...
Mastercard has introduced a new suite of benefits aimed at experience-seeking consumers. The Mastercard Collection, announced Wednesday (July 16), is available across the company’s World, World Elite and newly created World Legend Mastercard cards, offering rewards on things like dining, entertainment and travel. “Time well-spent...
A new analysis from PYMNTS reveals that consumer payment behavior is largely driven by entrenched habits and the nature of the purchase, with distinct patterns emerging between everyday transactions and more specialized purchases like travel. The recent “How People Pay” eBook, based on November 2024...
Open banking, and specifically pay by bank, promises to transform commerce by letting consumers make purchases and funds transfers directly from their accounts. But as PYMNTS Intelligence has demonstrated over the course of several months and several reports, though the payment option promises faster fund...
The Bank of England has fined Mastercard-owned Vocalink $16.2 million for inadequate risk management. The penalty, announced Wednesday (July 9), relates to the failure of the company — which provides real-time payments in the U.K. — to comply with governance weaknesses identified by the central...