Interbank networks

Interac and many of Canada's leading financial institutions enhance Interac e-Transfer to introduce instant digital payments for businesses

Retrieved on: 
Wednesday, August 4, 2021
Financial services, Money, Finance, Payment systems, Banking in Canada, Interbank networks, Interac e-Transfer, Interac, Cheque, Link Interac Inc.

The solution enables real-time digital payments to personal and commercial bank accounts with confirmation of funds received within seconds.

Key Points: 
  • The solution enables real-time digital payments to personal and commercial bank accounts with confirmation of funds received within seconds.
  • Within this period, 83 per cent of finance professionals surveyed say applying digital transformation to their function is a priority.
  • "Interace-Transfer for Business is poised to do for business payments what Interac e-Transfer did for the personal cheque," said Todd Roberts, Canadian Payments Leader at DeloitteCanada.
  • Interac commissioned Phase 5 Consulting to conduct an online survey of 152 financial decision-makers in Canadian mid-sized businesses with 100-499 employees.

Lynx Global's Bank Announces Partnership with China's UnionPay

Retrieved on: 
Wednesday, August 4, 2021
Money, Finance, Interbank networks, Financial services, Credit cards, Banking in China, UnionPay

Vancouver, British Columbia--(Newsfile Corp. - August 4, 2021) - Lynx Global Digital Finance Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) ("Lynx" or the "Company") today announces that its subsidiary Bank ("BRB"), has officially engaged in a worldwide card issuing partnership with UnionPay, a global payment brand with the planet's largest cardholder base.

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - August 4, 2021) - Lynx Global Digital Finance Corporation (CSE: LYNX) (OTC Pink: CNONF) (FSE: 3CT0) ("Lynx" or the "Company") today announces that its subsidiary Bank ("BRB"), has officially engaged in a worldwide card issuing partnership with UnionPay, a global payment brand with the planet's largest cardholder base.
  • The UnionPay global acceptance network has expanded to 180 countries and regions, covering over 61 million merchants and 2.9 million ATMs.
  • To date, UnionPay cards are issued in 70 countries and regions, among which over 150 million are issued outside mainland China.
  • Mr. Huiming Cai, General Manager, UnionPay International Southeast Asia said, "We are pleased to partner with BRB to make money remittance easy, secure and convenient to BRB customers and UnionPay Cardholders.

UnionPay International and bp in Europe Announce New Payment Acceptance Partnership to Allow the Acceptance of UnionPay Cards Across the Network of Fuel Stations in Portugal

Retrieved on: 
Monday, August 2, 2021
Money, Finance, Financial services, Interbank networks, Credit cards, Banking in China, UnionPay

LISBON, Portugal, Aug. 2, 2021 /PRNewswire/ -- UnionPay International, one of the world's leading payment brands, and bp in Europe announced a new acceptance partnership forthe acceptance of UnionPay cards across the network of over 500 fuel stations in Portugal.

Key Points: 
  • LISBON, Portugal, Aug. 2, 2021 /PRNewswire/ -- UnionPay International, one of the world's leading payment brands, and bp in Europe announced a new acceptance partnership forthe acceptance of UnionPay cards across the network of over 500 fuel stations in Portugal.
  • This is the latest agreement signed by UnionPay with a leading European operator of fuel stations.
  • In Europe, UnionPay is now accepted by more than five million merchants, covering around 70% of all the bankcard-accepting merchants in Europe.
  • UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business.

Strong Growth Continues for ACH Network as Volume Climbs Nearly 10% in Second Quarter of 2021

Retrieved on: 
Tuesday, July 27, 2021
Financial services, Banking, Federal Reserve System, Money, ACH Network, Banking in the United States, Payment, NACHA, Interbank networks

HERNDON, Va., July 27, 2021 /PRNewswire/ -- Robust growth continued for the modern ACH Network in the second quarter of 2021.

Key Points: 
  • HERNDON, Va., July 27, 2021 /PRNewswire/ -- Robust growth continued for the modern ACH Network in the second quarter of 2021.
  • Payment volume climbed 9.9%, with particularly strong growth in business-to-business (B2B) payments.
  • The ACH Network processed 7.3 billion payments in the second quarter, 655 million more than the same time in 2020.
  • Nearly 27 billion ACH Network payments were made in 2020, valued at close to $62 trillion.

UnionPay-IATA Partnership Gives Card Users Broader Access to Purchasing Tickets Online

Retrieved on: 
Thursday, July 22, 2021
Money, Financial services, Finance, Credit cards, Interbank networks, Banking in China, UnionPay, Payment systems, Acquiring bank, E-commerce payment system, RuPay

All airlines can enable UnionPay acceptance for different online sales channels simply through an API call without additional system modification.

Key Points: 
  • All airlines can enable UnionPay acceptance for different online sales channels simply through an API call without additional system modification.
  • In recent years, UPI has cooperated with global acquirers and major gateways to step up optimizing online card acceptance.
  • At present, UnionPay online payment has been enabled for more than 22 million merchants in over 200 countries and regions.
  • In partnership with more than 2400 institutions worldwide, UnionPay International has enabled card acceptance in 180 countries and regions with issuance in 70 countries and regions.

UnionPay-IATA Partnership Gives Card Users Broader Access to Purchasing Tickets Online

Retrieved on: 
Thursday, July 22, 2021
Money, Financial services, Finance, Credit cards, Interbank networks, Banking in China, UnionPay, Payment systems, Acquiring bank, E-commerce payment system, RuPay

All airlines can enable UnionPay acceptance for different online sales channels simply through an API call without additional system modification.

Key Points: 
  • All airlines can enable UnionPay acceptance for different online sales channels simply through an API call without additional system modification.
  • In recent years, UPI has cooperated with global acquirers and major gateways to step up optimizing online card acceptance.
  • At present, UnionPay online payment has been enabled for more than 22 million merchants in over 200 countries and regions.
  • In partnership with more than 2400 institutions worldwide, UnionPay International has enabled card acceptance in 180 countries and regions with issuance in 70 countries and regions.

Outseer Summer ‘21 Release Introduces EFTPOS Certification and Innovations for Market Leading Fraud Prevention Products

Retrieved on: 
Monday, July 12, 2021
Data management, Security, Technology, Software, Networks, Internet, Money, Payment systems, Interbank networks, Finance, EFTPOS, Financial services, Fraud

Summer 21 features official EFTPOS certification for Outseer 3-D Secure and new product features improving operational efficiency and management of European regulation requirements.

Key Points: 
  • Summer 21 features official EFTPOS certification for Outseer 3-D Secure and new product features improving operational efficiency and management of European regulation requirements.
  • Summer 21 optimizes our widely used fraud prevention capabilities, keeping at bay the massive increase in fraud activity weve seen since the pandemic started.
  • Outseer Summer 21 Release highlights include:
    EFTPOS Certification: Outseer 3-D Secure 2.0 has been certified by EFTPOS, an Australian card network and scheme, to protect CNP EFTPOS transactions.
  • All Outseer Summer 21 Release updates will be generally available to customers in the coming weeks.

Peak Completes Integration to China UnionPay Network and Processes First Fund Transfer and Payment Settlement Transactions

Retrieved on: 
Friday, July 9, 2021
Financial services, Money, Finance, Interbank networks, Credit cards, Debit cards, Banking in China, UnionPay, LINK, Visa Inc., MasterCard, Maestro

China UnionPay ( http://www.unionpayintl.com/en/ ) is a State-owned entity and China's largest POS electronic funds transfer network.

Key Points: 
  • China UnionPay ( http://www.unionpayintl.com/en/ ) is a State-owned entity and China's largest POS electronic funds transfer network.
  • It's also the only interbank network in China that links all the automatic teller machines (ATMs) of all banks throughout the country.
  • According to Wikipedia, UnionPay is the largest card payment organization (debit and credit cards combined) in the world, ahead of Visa and Mastercard.
  • Over that same period, the Company processed more than 1,200 fund transfer and payment settlement transactions in and out of those virtual bank accounts for an approximate amount of CAD$300,000,000.

UnionPay Upgrades Mobile QuickPass Service to a New Level

Retrieved on: 
Monday, June 28, 2021
Money, Finance, Financial services, Mobile payments, Payment systems, Interbank networks, Banking in China, UnionPay, Contactless payment, QR code payment, QR code, NETS

SHANGHAI, June 28, 2021 /PRNewswire/ -- UnionPay announced today that it launched the new Mobile QuickPass service which would support UnionPay contactless payment, QR code payment and In-App payment.

Key Points: 
  • SHANGHAI, June 28, 2021 /PRNewswire/ -- UnionPay announced today that it launched the new Mobile QuickPass service which would support UnionPay contactless payment, QR code payment and In-App payment.
  • This updated Mobile QuickPass enables customers to make payments in a wide range of payment scenarios, both online and offline, inside and outside Mainland China.
  • So far, UnionPay has extended itsglobalacceptancenetwork to 180 countries and regions, over half of which accept UnionPay QR code or mobile QuickPass payment.UnionPay cardholders can enjoy the convenience of mobile payments in more than eight million merchants outside Mainland China.
  • The upgraded UnionPay Mobile QuickPass service has incorporated multiple payment solutions, supporting a suite of value-addedservices and premium promotions.

CVS Expands Partnership with Cardtronics to Enable Allpoint ATMs at Longs Drugs Stores in Hawaii

Retrieved on: 
Thursday, June 17, 2021
Service companies, Retailers, Retailing, Interbank networks, Allpoint, Cardtronics, Woonsocket, Rhode Island, Embedded systems, Skaggs family, Automated teller machine, Longs Drugs, CVS Pharmacy

Longs Drugs, which CVS Pharmacy owns and operates, can now extend convenient, secure, and surcharge-free ATM access for customers who bank with Allpoint participants.

Key Points: 
  • Longs Drugs, which CVS Pharmacy owns and operates, can now extend convenient, secure, and surcharge-free ATM access for customers who bank with Allpoint participants.
  • Our Allpoint Network of ATMs helps drive consumers to convenient locations like Longs Drugs to satisfy day-to-day cash needs, surcharge-free.
  • Cardtronics Allpoint network is the worlds largest retail-based surcharge-free ATM network, with more than 40,000 ATMs in the U.S. and 55,000 worldwide.
  • Consumers can find Allpoint ATMs in top retail establishments such as grocery and convenience stores, pharmacies, and big-box stores.