PayPal adds support for iPhone payments, BNY Mellon's Regelman exits

PayPal has made Tap to Pay on iPhone available for all Venmo business clients and PayPal Zettle users in the U.S. Tap to Pay, or softPOS, enables businesses to receive payments on iPhones without additional hardware, such as a dongle. The technology has become popular among payment companies  and banks such as TD Bank and JPMorgan Chase as a way to enable merchants, particularly sole proprietors and other small businesses, to accept payments at a lower cost. Adding Tap to Pay gives PayPal another payment alternative for its small-business clients. in 2018, PayPal acquired Zettle, then known as iZettle,  to compete with Block, then known as Square, in Europe. PayPal in 2022 introduced Zettle's point of sale technology to the U.S.  "As consumers increasingly turn to non-cash options to pay, small businesses are looking for affordable and flexible ways to offer their customers more payment choice without being tied down to a fixed location," said Nitin Prabhu, vice president of small businesses and financial services at PayPal, in a release. — John Adams 

Roman Regelman will leave his role as head of securities services and digital at BNY Mellon next month to pursue other career opportunities, he wrote in a Wednesday LinkedIn post. During his nearly-six-year tenure at the global bank, Regelman oversaw the company's dive into digital asset products, including tokenization and crypto custody, along with efforts to digitize all aspects of operations.

Regelman helped accelerate innovation and performance in asset servicing and led digital asset strategic partnerships and investments to meet "the changing needs of our clients," said CEO Robin Vince in an internal memo seen by American Banker.

In an interview with American Banker last year, Regelman said he wanted custody, clearing and all other functions at the bank to be applicable to digital assets. He added that he saw the potential for tokenization to be a boon to BNY Mellon going forward.

"Tokenization could be the next wave of securitization, but done in a way that is much more accessible, easier and more digital," Regelman said at the time. —Catherine Leffert

FleetCor, the largest business-to-business Mastercard issuer in North America, has announced plans to formally change the company's name to Corpay, an existing brand in the Atlanta-based firm's portfolio of B2B payment products, according to a press release. The corporation, which generated $3.75 billion in revenue last year, began aligning its various corporate payments businesses under the name Corpay in 2021 after acquiring several other firms, including Nvoicepay in 2019 for $225 million and Associated Foreign Exchange for around $500 million. Corpay competes with firms including WEX and U.S. Bank Voyager in the B2B payments channel, including with millions of fuel card programs for fleets and trucking firms. — Kate Fitzgerald