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    Real-time payments

    News about Real-time payments.

    Mastercard and Visa join ClearXChange

    August 10th, 2016

    Mastercard and Visa have joined Early Warning’s peer-to-peer network ClearXChange, allowing US consumers to send money to others using their Mastercard or Visa credit and debit cards. The payment networks join Capital One, Bank of America, US Bank, JP Morgan Chase and Wells Fargo in supporting the service, made available to all member financial institutions in June 2015.

    Capital One joins ClearXChange

    July 12th, 2016

    Customers of Capital One in the US can now make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange. The bank joins Bank of America, US Bank, JP Morgan Chase and Wells Fargo in supporting the service which was made available to all member financial institutions in June 2015.

    Wells Fargo joins ClearXChange

    June 28th, 2016

    Customers of Wells Fargo in the US will soon be able to make real-time P2P transactions through Early Warning’s bank-led digital payments network ClearXChange. “Beginning August 1, Wells Fargo’s service will allow its customers to send funds in real-time at no cost to any customer of a bank that participates in the real-time service,” the bank says. ClearXChange was made available to all member financial institutions in June 2015. JPMorgan Chase also signed up to the service earlier this month.

    JPMorgan Chase joins ClearXChange

    June 16th, 2016

    JPMorgan Chase has joined its US rivals in letting its customers transfer money in real time between financial institutions signed up to bank-led digital payments network ClearXChange. “JPMorgan, whose Chase QuickPay product handled US$20bn in P2P transfers last year, began offering the service Sunday after customers requested it,” Bloomberg reports. ClearXChange was made available to all member financial institutions in June 2015.

    ICBPI to launch instant payment platform

    June 7th, 2016

    Istituto Centrale delle Banche Popolari Italiane (ICBPI) is to establish an instant payments solution in the first quarter of 2017 in partnership with Danish payment services provider Nets. “Based on the very successful implementation of Nets RealTime24/7 solution in Denmark, the ICBPI’s instant payment platform will serve the Italian Payment Service Providers (PSPs),” Nets says. “There will be no limit to the use cases but the focus will be on mobile payments, initially targeting P2P payments.”

    Seamless authorised to issue electronic money

    May 11th, 2016

    Swedish mobile payments specialist Seamless has been granted authorisation to issue electronic money by Finansinspektionen, the country’s financial supervisory authority. “This means that Seqr users can send and receive money, worldwide, in real time,” the company says. “Under the terms of the authorisation, Seqr can also be used by minors. Money received can be accessed instantly to make payments anywhere in the world where NFC payments are accepted.”

    US pilot for real-time payments system

    April 20th, 2016

    Financial services provider FIS and banking association The Clearing House (TCH) are to pilot a real-time payments system with financial institutions in the US in the first quarter of 2017, with an initial focus on bill payments. “TCH, which owns and operates the system, has partnered with FIS, who will use the system to develop innovative new services and eventually connect its financial institution clients,” the companies say.

    Santander to offer voice-activated mobile banking

    March 22nd, 2016

    Santander customers in the UK with an Apple iOS device will soon be able to use their voice to interact with their SmartBank mobile banking app in order to make payments, retrieve information such as… More

    Canada’s Interac debit network launches tokenization service

    February 22nd, 2016

    Canadian debit network Interac has unveiled its own token generation and management service that will enable financial institutions, merchants and its partners to build and manage secure digital payment experiences with support for tokenized digital… More

    TCH taps VocaLink to bring real-time payments to the US

    December 11th, 2015

    Banking association The Clearing House (TCH) has contracted UK payments infrastructure operator VocaLink to develop a national real-time payment service in the US. “VocaLink has commenced work to ensure the system is built rapidly,” the companies say. “Individual financial institutions and their service providers have already commenced efforts to integrate and adopt the new real-time payment system.” TCH and its member banks revealed plans to build a real-time payment system in October 2014.

    MasterCard extends tokenization platform to clothing, accessories and wearable devices

    October 26th, 2015

    MasterCard has extended the capabilities of its tokenization service to enable payments to be made using “virtually any device”, including NFC-enabled clothing, jewellery and vehicle keyfobs. “Products will begin rolling out in 2016 in the US,” the payments network says, “with plans to expand to other markets.” More

    Eftpos chooses Bell ID for mobile payments in Australia

    October 19th, 2015

    PARTNER NEWS: Debit card payment network Eftpos is to use Bell ID’s Token Service Provider platform to provide secure tokenization services to the Australian payments industry. The deal will see Bell ID’s tokenization platform being integrated… More

    VocaLink to develop real-time mobile payments for Thailand

    October 12th, 2015

    UK payment infrastructure operator VocaLink has signed a letter of intent with Thailand’s main interbank payments provider National ITMX to collaborate on the development of a mobile payment solution for banks, consumers and businesses in Thailand. “The… More

    ClearXChange offers real-time payments

    June 16th, 2015

    US bank-led digital payments network clearXchange’s real-time payments system is now available to all member financial institutions, allowing real-time transfers to take place within the same bank or bank to bank. Bank of America, Capital One, Chase, US Bank and Wells Fargo are expected to roll out the service to customers over the next year.

    BBVA adopts Dwolla for faster payments

    November 3rd, 2014

    US bank BBVA Compass has joined up with Dwolla to offer real-time payments to its account holders for US$0.25 per transaction. Transactions valued at under $10 are free of charge. “This partnership is a great example of how Dwolla’s existing real-time payments system can work together with financial institutions to provide a platform for innovation, revenue and relevancy,” Dwolla’s Jordan Lampe says.