The Bank of England said Thursday (July 18) that a global payments issue that was affecting CHAPS, the United Kingdom’s high-value payment system, is now resolved. “We are pleased to confirm that the third-party supplier has restored service following their earlier issues, and CHAPS payments are settling...
Cash App says it will exit the British market as it focuses on the U.S. The mobile payments service announced Thursday (July 19) that it was shutting down Cash App UK on Sept. 15 after six years. “We do not make decisions like this lightly,...
Two United Kingdom regulators have begun gathering information on the benefits and risks of digital wallets for people and businesses. The Payment Systems Regulator (PSR) and Financial Conduct Authority (FCA) launched a joint call for information “from a wide range of stakeholders,” according to a Monday (July 15) press...
Argentina-based payments processor Tapi has reportedly raised $22 million in new funding. The company will use the Series A funding to help fuel its expansion into Mexico, Co-Founder/CEO Tomas Mindlin said in a Bloomberg News interview Friday (July 12). According to the report, Tapi processes...
The future of money movement is accelerating globally. With real-time payments on the U.S. RTP® Network and in Europe setting new usage records, and awareness of instant payments growing in the U.S. since the launch of the FedNow® Service last July, organizations and observers may...
Galileo Financial Technologies has begun offering wire transfer capabilities to FinTechs. The So-Fi-owned company announced the new offering Tuesday (July 9), saying it provides FinTechs with another option for fast and secure money movement. Through its wire transfer API, Galileo connects FinTechs working with Community Federal Savings Bank to Fedwire,...
Paying with paper checks at Target will soon be a thing of the past. The retailer said it will stop accepting personal checks at its stores later this month, according to a recent report by the Minneapolis Star-Tribune. “Target is committed to creating an easy and...
Mastercard is expanding its partnership with Dubai-based retail conglomerate LuLu Group. The collaboration, announced Friday (July 5), will extend across the markets of Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and newly-added Saudi Arabia, integrating Mastercard’s expertise into Lulu Group’s operation. “The partnership will...
The very nature of commerce itself is changing. We’re no longer doing everything online, and the post-pandemic economy demands that a broad — and growing — range of payments options be on offer, no matter where consumers are shopping. The payments modalities and data analytics...
