In today’s top payments news, Visa partners with TD Bank to provide real-time transfers for U.S. TD Bank account owners to their Canadian accounts. Also, Softbank’s negotiations with Japan’s three top lenders are hindered by lending limits, and the FTC sues FleetCor over “hidden charges” on fuel cards.
Some 1.5 million Canadians move south for the winter, and cross-border payments can be slow and exasperating. That’s why Visa is teaming up with TD Bank to introduce their latest solution: TD Bank (US) to TD (Canada) Transfer. The partnership will enable real-time transfers for Canadian users to move their money from their U.S. TD Bank accounts to Canada.
SoftBank’s negotiations with Japan’s three dominant lenders to procure $3 billion have been hindered by lending limits. The lenders, which are looking to aid in the $9.5 billion WeWork bailout, have hit a ceiling on the amount of money that can be loaned to one company.
The Federal Trade Commission accused Fleetcor of billing clients hundreds of millions in “hidden” charges, after promising that their U.S. fuel payment card would help firms spend less on gas. The FTC received complaints from tens of thousands of clients who stated they were told there would be no transaction or membership fees, among other claims. Fleetcor has refuted the complaints.
Facebook is getting in on the supposed future of eCommerce: live shopping. The tech giant quietly acquired video shopping startup Packagd earlier this year, which is now building a live shopping feature for Facebook’s Marketplace.
Visa’s real-time push payments service, Visa Direct, has seen many unexpected use cases since its launch. Visa Direct Global Head Bill Sheley spoke with Karen Webster about the most surprising applications for the technology, and why payment tools of today must remain flexible for the unpredictable demands of the next decade of change.
It is amazing all the things you can learn with a good conversation — and over the course of 2019 we’ve had a great conversation most Monday mornings. So, what have we learned? Among other things, how to fight an international barrage of cybercriminals, the secret to teaching financial responsibility and who the secret power in the grocery wars is.