Cross-border payments and receivables specialist Flywire has added PayPal to its platform as a funding option, enabling businesses, students and patients to fund cross-border payments via PayPal accounts. PayPal now is available as a payment method for Flywire users in the U.S., Canada, U.K. and European Union, Flywire said.
More than $809 billion is set to switch to the fledgling instant payments system in Europe by 2027, representing a significant threat to cards, according to a new report from Ovum, a London-based consultancy. Instant, or real-time, payments enable account-to-account bank transfers in seconds instead of days.
Google has a new plan to become a bigger player in payments. The search engine and web marketing giant said that it’s enabling merchants and developers to “turbocharge checkout conversion” by making it easier for consumers to use the credit cards and debit cards stored with Google.
The Alipay online payment platform operated by Ant Financial Services Group is moving further into North America through an agreement with payments technology provider First Data. Alipay is considered the world’s largest online and mobile payment platform, with more than 450 million global active users.
With 27 percent of U.S. households unbanked or underbanked, according to the most recent FDIC report on the subject, PayNearMe continues in its efforts to make it easier for such consumers, as well as those who prefer not to use plastic or checks, to pay bills using cash.
The recent performance of Zelle Network, the P2P payments platform with the funny name, is no laughing matter for competing P2P providers. Early Warning Services, a provider of real-time payments, authentication and risk mitigation services, announced April 17 that its Zelle Network processed more than 170 million P2P payments in 2016, totaling $55 billion in transaction value.
PayPal’s bid to acquire Vancouver-based bill payment specialist TIO Networks has been approved by TIO shareholders, who overwhelmingly voted in favor of the proposed sale at a special meeting this week.
With funds flowing from some of the biggest names in payments, including PayPal and Ant Financial, March got off to a hot start for worldwide e-commerce and fintech investment. Providers around the globe have landed hefty financing rounds from some venture capital, payments and financial services heavyweights during the first half of the month.
A deep dive into a packed panel discussion on disruption at the annual conference shows how payments providers are mapping the future with new technology, and how traditional players can endure.
Bots, biometrics and wristbands stood out as examples of payments innovation this week at the annual Mobile World Congress in Barcelona. Judging by the product releases and displays, the future promises to involve more use of fingerprints in payments, and technology that allows quick purchasing from social media.
Seeking to increase its foothold among customers who prefer cash, PayPal will spend approximately $233 million to buy Vancouver-based bill payment firm TIO Networks. The acquisition is not PayPal’s first move to gain the business of consumers using cash.
PayPal has a new pal—namely its first bot that enables Slack users to move and manage their money in a conversational and casual style. The PayPal bot is available to 5 million Slack users in Australia, Canada, the U.K. and the U.S.
Paybefore’s first-ever payments year-in-review report, sponsored by The Bancorp, is available now. Offering an in-depth look at key trends and the Top 10 payments stories from 2016 that will continue to shape the industry in 2017 and beyond, this must-have resource examines everything influencing the industry from the CFPB and Uber to Brexit and Trump and much more.
