Interbank networks

Publix Employees Federal Credit Union Selects Payrailz To Deliver Smarter Digital Payments Experience

Retrieved on: 
Tuesday, April 13, 2021
Professional services, Data management, Technology, Finance, Software, Banking, Interbank networks, Publix, CO-OP Financial Services, Economy of the United States, Companies, Service industries, Publix Employees Federal Credit Union, Payrailz®

b"Payrailz\xc2\xae , a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, announced that Publix Employees Federal Credit Union (PEFCU) has signed on for digital payments.\nPEFCU serves current and retired Publix Super Markets, Inc. associates and their families across the Southeast.

Key Points: 
  • b"Payrailz\xc2\xae , a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, announced that Publix Employees Federal Credit Union (PEFCU) has signed on for digital payments.\nPEFCU serves current and retired Publix Super Markets, Inc. associates and their families across the Southeast.
  • The credit union also cited Payrailz\xe2\x80\x99 vision for and commitment to the future of AI and machine learning within the payment experience as a key factor in its selection.
  • As the credit union considered its digital transformation and strategy for providing a competitive digital payment experience for its members, PEFCU knew that having a smart, proactive payments platform would set it apart from other credit union and bank competitors.\n\xe2\x80\x9cWe chose Payrailz for their best of breed digital payments platform and because they are a trusted partner that will help us build for the future,\xe2\x80\x9d said Ted Hassenfelt, CIO of Publix Employees Federal Credit Union.
  • \xe2\x80\x9cPublix Employees Federal Credit Union is a great example of a credit union that shares our vision for payments and truly wants to create the best digital experience for its members.\xe2\x80\x9d\nHeadquartered in Lakeland, Fla., Publix Employees Federal Credit Union (PEFCU) is a member-owned co-operative that was founded in 1957 to meet the financial needs of current and retired Publix Super Markets Inc. associates and their family members.

Splitit Partners with UnionPay, the World’s Largest Card Network of 9 Billion Cardholders

Retrieved on: 
Tuesday, April 13, 2021
Professional services, Technology, Other Technology, Mobile, Wireless, Software, Finance, Banking, Money, Finance, Financial services, Credit cards, Interbank networks, Banking in China, UnionPay, UnionPay International, Splitit

This will give UnionPay card holders and those accepting UnionPay the opportunity to utilize Splitit\xe2\x80\x99s installment payments product.\nThe UnionPay global acceptance network has expanded to 180 countries and regions, covering over 55 million merchants.

Key Points: 
  • This will give UnionPay card holders and those accepting UnionPay the opportunity to utilize Splitit\xe2\x80\x99s installment payments product.\nThe UnionPay global acceptance network has expanded to 180 countries and regions, covering over 55 million merchants.
  • To date, over 9 billion UnionPay cards (debit and credit) are issued in 68 countries and regions, among which over 150 million are issued outside mainland China.
  • Headquartered in New York, Splitit has an R&D center in Israel and offices in London and Australia.
  • The company is listed on the Australian Securities Exchange (ASX) under ticker code SPT.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210412005991/en/\n'

ACH Network Volume Rises 11.2% in First Quarter as Two Records are Set

Retrieved on: 
Thursday, April 15, 2021
Financial services, Banking, Federal Reserve System, Money, ACH Network, Banking in the United States, ACH, Interbank networks, FedACH

b'The modern ACH Network saw volume soar in the first quarter of 2021, setting two new records in the process.\nQuarterly volume of 7.1 billion payments was an increase of 11.2% from the same period in 2020.

Key Points: 
  • b'The modern ACH Network saw volume soar in the first quarter of 2021, setting two new records in the process.\nQuarterly volume of 7.1 billion payments was an increase of 11.2% from the same period in 2020.
  • The value of those payments was $17.3 trillion, reflecting a nearly 19% increase from a year earlier.\nThe first new record was set in February, when ACH volume averaged more than 118 million payments per day, the ACH Network\'s highest daily average for a month.\nThe second was in March, when ACH volume hit 2.7 billion payments, the largest monthly volume in ACH Network history.
  • "The ACH Network is doing its part to get Americans the assistance they need while keeping billions of other payments moving seamlessly.
  • Nearly 27 billion ACH Network payments were made in 2020, valued at close to $62 trillion.

Brink’s Acquires Largest Privately Owned Provider of ATM Services in the U.S.

Retrieved on: 
Tuesday, April 6, 2021
Technology, Science and technology, Financial technology, Brink's, Automated teller machine, ATM, NCR Corporation, Asynchronous Transfer Mode, Interbank networks, Automated teller machines

PAIs field services are built around its VTS (Vantage Technical Services) cash management and maintenance solution for ATM devices.

Key Points: 
  • PAIs field services are built around its VTS (Vantage Technical Services) cash management and maintenance solution for ATM devices.
  • A primary goal of Brinks Strategy 2.3 is to offer ATM solutions integrated with other Brinks solutions to provide complete, end-to-end cash management.
  • PAI provides Brinks with a platform of proprietary ATM services and more than 100,000 ATM service locations in the U.S., accelerating its execution of Strategy 2.3 initiatives in North America.
  • With PAIs proprietary technology, Brinks is now uniquely positioned to offer U.S. customers a complete range of ATM services, including full-service outsourcing, which increases the value of their ATM networks.

Nacha Releases the 2020 Top 50 Financial Institution ACH Originators and Receivers

Retrieved on: 
Tuesday, March 30, 2021
Financial services, Banking, NACHA, Articles, Payment, Electronic funds transfer, ACH, ACH Network, Automated Clearing House, Interbank networks

HERNDON, Va., March 30, 2021 /PRNewswire/ -- Nacha today released its Top 50 rankings of financial institution originators and receivers of ACH payments for 2020.

Key Points: 
  • HERNDON, Va., March 30, 2021 /PRNewswire/ -- Nacha today released its Top 50 rankings of financial institution originators and receivers of ACH payments for 2020.
  • The Top 50 originating financial institutions handled ACH volume of almost 23.1 billion payments last year, an increase of nearly 8.6% over 2019.
  • Among receiving financial institutions, the Top 50 recorded ACH payment volume of 16.4 billion.
  • These are primarily "on-us" ACH payments in which the originating and receiving financial institution are the same, and so are not submitted to an ACH Operator.

The ACH Network Marks the Successful Expansion of Same Day ACH

Retrieved on: 
Monday, March 22, 2021
Financial services, Banking, Money, NACHA, Federal Reserve System, ACH Network, ACH, Electronic funds transfer, Automated Clearing House, Interbank networks

On March 19, 2021, the operating hours of Same Day ACH were extended through the establishment of a third daily opportunity to clear and settle Same Day ACH payments.

Key Points: 
  • On March 19, 2021, the operating hours of Same Day ACH were extended through the establishment of a third daily opportunity to clear and settle Same Day ACH payments.
  • "Same Day ACH is a cornerstone of the modern ACH Network," said Jane Larimer, Nacha President and CEO.
  • "The expansion of Same Day ACH is a textbook example of collaboration among the organizations that make up the ACH Network."
  • In 2020 nearly 350 million Same Day ACH payments were made; and more than 850 million Same Day ACH payments have been made since its inception.

Discover Announces Alliance with Malaysia’s PayNet to Expand Worldwide Acceptance

Retrieved on: 
Monday, March 22, 2021
Networks, Finance, Banking, Professional services, Technology, Discover Financial, Payment systems, Money, Finance, Interbank networks, Riverwoods, Illinois, Citigroup, Discover Card, Diners Club International, Pulse, Malaysian Electronic Payment System, PayNet, Discover

Working with PayNet was key to opening the Malaysian market to our partners around the globe, said Ricardo Leite, senior vice president of international markets at Discover.

Key Points: 
  • Working with PayNet was key to opening the Malaysian market to our partners around the globe, said Ricardo Leite, senior vice president of international markets at Discover.
  • Discover Global Network has more than 50 million merchant acceptance locations and 2 million ATM and cash access locations around the world.
  • The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 20 alliance partner networks across the globe.
  • Payments Network Malaysia Sdn Bhd (PayNet) is the national payments network and shared central infrastructure for Malaysias financial markets.

UnionPay Acceptance Network Expands to 180 Countries and Regions

Retrieved on: 
Friday, March 19, 2021
Money, Financial services, Finance, Credit cards, Interbank networks, Banking in China, UnionPay, Card reciprocal agreements

SHANGHAI, March 19, 2021 /PRNewswire/ -- UnionPay International (UPI) announced today that with significant progress in Latin America, UnionPay acceptance network has now extended to 180 countries and regions, over half of which accept UnionPay mobile payments.

Key Points: 
  • SHANGHAI, March 19, 2021 /PRNewswire/ -- UnionPay International (UPI) announced today that with significant progress in Latin America, UnionPay acceptance network has now extended to 180 countries and regions, over half of which accept UnionPay mobile payments.
  • With its vast network, UPI is striving to serve more overseas residents, facilitate China's exchange with other countries, and boost the internal and external circulations.
  • A total of more than 150 million UnionPay cards have been issued in 67 countries and regions outside Mainland China.
  • Meanwhile, UnionPay is leading the development of digital payment in some of the Asia Pacific countries and regions through its services offered to local consumers.

UnionPay Acceptance Network Expands to 180 Countries and Regions

Retrieved on: 
Friday, March 19, 2021
Money, Financial services, Finance, Credit cards, Interbank networks, Banking in China, UnionPay, Card reciprocal agreements

SHANGHAI, March 18, 2021 /PRNewswire/ -- UnionPay International (UPI) announced today that with significant progress in Latin America, UnionPay acceptance network has now extended to 180 countries and regions, over half of which accept UnionPay mobile payments.

Key Points: 
  • SHANGHAI, March 18, 2021 /PRNewswire/ -- UnionPay International (UPI) announced today that with significant progress in Latin America, UnionPay acceptance network has now extended to 180 countries and regions, over half of which accept UnionPay mobile payments.
  • With its vast network, UPI is striving to serve more overseas residents, facilitate China's exchange with other countries, and boost the internal and external circulations.
  • A total of more than 150 million UnionPay cards have been issued in 67 countries and regions outside Mainland China.
  • Meanwhile, UnionPay is leading the development of digital payment in some of the Asia Pacific countries and regions through its services offered to local consumers.

China Securities Initiates Yeahka at BUY

Retrieved on: 
Thursday, March 11, 2021
Finance, Money, Financial services, Interbank networks, Banking in China, UnionPay, Short, Security

HONG KONG, Mar 11, 2021 - (ACN Newswire) - Chinese investment bank China Securities initiates coverage on YEAHKA LIMITED (9923) with a BUY rating.

Key Points: 
  • HONG KONG, Mar 11, 2021 - (ACN Newswire) - Chinese investment bank China Securities initiates coverage on YEAHKA LIMITED (9923) with a BUY rating.
  • Key takeaways from the research report include:
    - UnionPay, Lakala and Yeahka are the leading players among third-party non-financial payment service providers.
  • While Yeahka is slightly behind the two peers in terms of transaction volume, it has a larger number of transaction counts.
  • China Securities' research estimates the market share of these three leading players in China is no more than 30%.