Payments

The bank-owned person-to-person network formally went live Monday, enabling direct transfer of funds across 30 U.S. financial institutions. There are a lot of questions around whether it can compete with the current kings of P-to-P — Venmo and PayPal — but Zelle may not be aiming to take them head-on just yet.

This morning the bank owned P-to-P network, Zelle, is formally going live, enabling direct transfer of funds across thirty U.S. financial institutions over the course of the next twelve months. There are a lot of questions around whether it can compete with the current kings of P-to-P — Venmo and its parent company PayPal — but Zelle may not be aiming to take them head-on just yet.

There is an expanding array of choices to reduce paper checking, add speed and reduce cost from billing.

International payments and risk-based services provider INTL FCStone says its London-based global payments division will become a non-bank participant in Swift's global initiative to improve the cross-border transaction landscape.

Grocery shopping may not seem conducive to e-commerce due to the category's massive cart sizes and perishable goods, but many companies are trying to put a digital spin on the process. Here are a few of the latest innovations.

Hoping to convince e-commerce merchants to let Facebook target offers to customers, the social media giant is placing a strong emphasis on “dynamic ads” that include payment buttons.

ExxonMobil's contactless and mobile payment system, Speedpass, is well known as a way to help drivers accelerate the payment process after they fill up on gas. The system's latest updates focus less on the payment process and more on flexibility and rewards.

The agency recently sent a letter to nine banks urging them to stop offering deferred interest cards, arguing that consumers are often unaware of the risks involved.

Alibaba Group Holding Ltd. shares rose the most in almost two-and-a-half years after forecasting sales growth that topped every analyst’s estimate, defying expectations that growth must slow by dint of a decelerating economy and its own sheer scale.

Credit card usage began expanding with the economy, and Walmart wants to ride that wave with several enhancements to its own credit cards, including near-instant access to newly issued credit accounts within its mobile payments app.

The username and password are dying. Only biometrics can unify the age-old opposing forces of user experience and digital security in replacing an antiquated method.

Many companies in the payments industry see B-to-B transactions as ripe for modernization, and Mastercard is no exception. Its recent participation in a $300 million funding round in AvidXchange enables a new approach to this market.

Physical cash is likely to have utility for years to come. If it passes away, better the death blow comes from superior commercial payment systems than government edict.

Within two years, a consumer will be able to tell a voice-activated device like Amazon Echo to order the week's groceries – and the device will know exactly what to order and how to pay for it, without any further instructions.

The Trump administration is stepping away from the government’s 7-year legal fight with Amex that centers on retailers’ right to encourage the use of particular cards. The decision is good news for issuers of credit and debit cards, though it is hardly the last word on the case.

Google is getting in on the card-linked offers movement with a new API enabling merchants to send targeted offers to consumers who store a loyalty card within Android Pay.

Amazon customers in Japan can now charge purchases to their mobile phone bill through a new deal with Bango.

Audi is the latest to adopt a built-in service through a deal with Parkopedia, a London-based provider of dashboard services, to locate and pay for parking spots.

The Trump administration is stepping away from the government’s 7-year legal fight with Amex that centers on retailers’ right to encourage the use of particular cards. The decision is good news for issuers of credit and debit cards, though it is hardly the last word on the case.

Merchants increasingly sing the praises of analyzing customer payment data to learn more about spending habits and deliver customized offers through mobile devices. American Express is kicking off a project to do the same with corporate travel data.