Payments

Truist Financial Corp. has hired Sal Karakaplan to head its newly formed Enterprise Payments Group, which will be responsible for driving and executing a coordinated strategy across Truist’s various payments businesses.

It will take years to fully complete the project, but Mastercard has announced the availability of real-time account-to-account corporate payments for U.S. firms through its Mastercard Track Business Payment Service (BPS), with plans to add cross-border payments next year.

The pandemic has altered a variety of consumer behaviors, and that could make a difference in what sort of interchange and interest revenue financial institutions see in their credit and debit portfolios as they close out 2020.

Even given the huge jump in digital transactions from e-commerce, card brands are holding out for COVID-19 vaccines as a path out of the payment declines that have accompanied 2020’s health and economic crises.

As the pandemic transforms the way corporations pay suppliers, many banks are watching nimble fintechs rush in with streamlined solutions customized for remote workforces. U.S. Bank didn’t want to risk getting cut out of that equation.

Ahead of a holiday shopping season that should focus heavily on e-commerce, Amazon is updating its rewards program to keep delivery drivers interested in handling its packages.

The everyday occurrence of patients leaving medical appointments or hospital stays with no idea what their insurance will cover, what they owe or what payment options exist would change dramatically if health care facilities turn to technology that delivers accurate billing at checkout.

While we can’t know what the post COVID-19 landscape will look like, we do know that business expenses will ramp back up, and with them, higher expectations for digital payments from both suppliers and vendors, says Wex's Jay Dearborn.

My Digital is working with Modulr to deliver automated payroll services for U.K. contract workers.

Crypto played a key role in Square's 140% year-over-year growth in revenue for the third quarter — and 212% growth in gross profit for the Cash App alone.