Zelle

Report: Americans Experience One of the Lowest Rates of Fraud in the World Despite Climbing Nuisance Calls

Retrieved on: 
Thursday, February 8, 2024
Telecommunications, Software, Networks, Technology, Carriers and Services, VoIP, Mobile, Wireless, Security, Communication, FTC, Fraud, Insurance, Social Security, Tax, News, Samsung, Investment, Human, Federal Trade Commission, Medicare, PayPal, Crime, Failure, HMRC, Social, EDF Energy, Airport, Zelle, Cryptocurrency

The US’s spam rate for the quarter was a relatively high 29% but interestingly, only 1% of those unwanted calls are fraud, giving it one of the lowest fraud rates in the world.

Key Points: 
  • The US’s spam rate for the quarter was a relatively high 29% but interestingly, only 1% of those unwanted calls are fraud, giving it one of the lowest fraud rates in the world.
  • Most fraud calls in the US are blocked by the carrier at the network level, so they never reach consumers.
  • That means that nearly half of the unidentified calls received in France in Q4 were unwanted: either nuisance or fraud.
  • Hiya is constantly improving how it detects and flags nuisance and fraud calls, so fluctuations quarter to quarter do not necessarily indicate an increase or decrease in nuisance and fraud rates.

Innovative Payment Solutions Announces Funding of Second $500,000 Capital Contribution to IPSIPay Express

Retrieved on: 
Wednesday, September 20, 2023
Insurance, W. A. G. Payment Solutions, Partnership, IPSI, Las Vegas Sands, OTCQB, Fintech, Shopify, BigCommerce, Joint venture, Traction, Break My Bank, Growth, A2A, Fraud, Express, Cryptocurrency, Zelle, IPEX, RealTime

CARMEL BY THE SEA, Calif., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Innovative Payment Solutions, Inc. (OTCQB: IPSID) (“IPSI” or the “Company”), a FinTech provider of digital payment platforms, today announced the funding by IPSI of its second of three $500,000 capital contribution to IPSIPay Express, LLC (IPEX), a Joint Venture poised to redefine the landscape of digital payments in the rapidly growing sports betting, online gaming and entertainment sectors.

Key Points: 
  • The funding represents the second $500,000 tranche of IPSI’s $1.5 million commitment to IPEX and raises IPSI’s equity stake in IPEX from 11% to 22%.
  • Instant-Settlement in RealTime positions IPEX as a potential leading payment processor for these and similar industries, promising seamless, secure, and instantaneous account-to-account transfer payments from customers to merchants.
  • OpenPath specializes in providing payment solutions to companies processing large volumes of online payments, including major players like Shopify and BigCommerce.
  • IPSI plays a vital role to the JV Partnership by contributing the necessary working capital and facilitating essential banking partnerships.

Zelle® Announces Q2 Customer Growth and New Safety Measures

Retrieved on: 
Wednesday, August 30, 2023
Risk, MDI, Education, National Council on Aging, National Bankers Association, National Council, NCOA, Fraud, Cryptocurrency, Zelle, Growth

SCOTTSDALE, Ariz., Aug. 30, 2023 /PRNewswire/ -- Early Warning Services, LLC, the network operator of Zelle®, today announces its Q2 2023 results—total Zelle transaction volume was 705 million with a value of $197 billion, 10% and 9% quarter-on-quarter growth, respectively. 

Key Points: 
  • "We support the minority banks utilizing the payment platform Zelle® because of their unique role in providing financial services to communities."
  • Now over 2,100 bank and credit union brands offer Zelle® to their customers—consumers and small businesses—representing more than 80% of U.S. deposit accounts.
  • All banks and credit unions on the Zelle Network® must implement Risk Insights for Zelle®.
  • This free service gives institutions recipient risk attributes to assess potentially high-risk transactions and ultimately reduce fraud and scams.

Checkbook Adds Zelle® Payment Option to Expand Customer Choice

Retrieved on: 
Thursday, July 27, 2023
Software, Finance, Banking, Data Management, Professional Services, Technology, Fintech, Digital Cash Management, Digital Assets, API, Online shopping, Zelle, Cheque

As of today, Checkbook customers can now pay their recipients instantly with Zelle.

Key Points: 
  • As of today, Checkbook customers can now pay their recipients instantly with Zelle.
  • With Zelle, Checkbook reinforces its position as a comprehensive single portal for payments, both digital and physical.
  • “Our goal at Checkbook has always been to offer our customers a comprehensive suite of payment options with a single API,” says PJ Gupta, CEO and Founder of Checkbook.
  • For more information on how Checkbook customers can benefit from this Zelle solution, visit: www.checkbook.io/product/payments/zelle-payments/

Jack Henry Announces Support for the FedNow® Service

Retrieved on: 
Thursday, July 20, 2023
JHA, Federal Reserve Bank, Fed, JKHY, The Clearing House, Organization, Federal Reserve Bank of St. Louis, Federal Reserve, TCH, Clearing house, Federal Reserve Bank of Boston, Cryptocurrency, Zelle

MONETT, Miss., July 20, 2023 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today it is now supporting live transactions on the Federal Reserve's new instant payment rail, the FedNow Service. Jack Henry is among the first service providers supporting transaction activity for financial institutions on the service.

Key Points: 
  • MONETT, Miss., July 20, 2023 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today it is now supporting live transactions on the Federal Reserve's new instant payment rail, the FedNow Service.
  • Jack Henry is among the first service providers supporting transaction activity for financial institutions on the service.
  • Jack Henry is committed to helping community and regional financial institutions stay on the leading-edge of faster payments .
  • "As a provider for the FedNow Service, Jack Henry demonstrates its dedication to innovation," said Ken Montgomery, Federal Reserve Bank of Boston first vice president and FedNow Service program executive.

Fiserv Supports FedNow® Service with Multiple Financial Institution Clients Live at Launch

Retrieved on: 
Thursday, July 20, 2023
Professional Services, Payments, Technology, Finance, Fintech, Banking, Federal Reserve Bank, Face, FI, Federal, Digital, Organization, NYSE, Federal Reserve Bank of Boston, Financial services, Online shopping, Zelle, Fiserv

Multiple Fiserv clients, including Mediapolis Savings Bank and Salem Five Bank, went live on the service at launch.

Key Points: 
  • Multiple Fiserv clients, including Mediapolis Savings Bank and Salem Five Bank, went live on the service at launch.
  • Nearly 100 additional Fiserv clients have committed to be part of the new instant payment rail via Fiserv and will go live in the coming months.
  • “The FedNow Service launch will accelerate the adoption of real-time payments in the U.S. as infrastructure expands to meet demand,” said Matt Wilcox, President of Digital Payment Solutions at Fiserv.
  • “As a service provider of the FedNow Service, Fiserv demonstrates dedication to innovation,” said Ken Montgomery, Federal Reserve Bank of Boston first vice president and FedNow Service program executive.

SOUNDEXCHANGE ENABLES CREATORS TO RECEIVE DIGITAL ROYALTIES THROUGH VENMO AND PAYPAL

Retrieved on: 
Wednesday, July 12, 2023
PayPal, Organization, United Kingdom, Music, SoundExchange, Cash, Online shopping, Venmo, Zelle, Eurozone

WASHINGTON, July 12, 2023 /PRNewswire/ -- SoundExchange, the premier music tech organization powering the future of music, today announced the addition of PayPal and Venmo as royalty distribution payment options for registered creators. SoundExchange is transforming how creators receive compensation for their musical work by distributing royalty payments easily and immediately into their bank accounts – one of the only organizations of its kind to do so. Along with Paypal and Venmo, last year SoundExchange began offering registered creators the choice of receiving royalty payments using CashApp and Zelle.

Key Points: 
  • Along with Paypal and Venmo, last year SoundExchange began offering registered creators the choice of receiving royalty payments using CashApp and Zelle.
  • "SoundExchange is the only collective to offer creators the option of receiving royalties via mobile payments apps on a monthly basis," said Michael Huppe, President and CEO of SoundExchange.
  • Offering PayPal allows international registrants to receive their SoundExchange royalties in places beyond traditional options without requiring a bank account.
  • In order to sign up for either Paypal or Venmo, creators are encouraged to use SXDirect, which offers self-service opt-ins for all payment methods SoundExchange currently offers.

Jack Henry Expands Real-Time Payments Presence with the New FedNow Service

Retrieved on: 
Monday, May 15, 2023
JHA, Federal Reserve Bank, JKHY, Culture, The Clearing House, Organization, Federal Reserve Bank of St. Louis, Bryant Bank, Friction, Federal Reserve, FedNow, TCH, Clearing house, Federal Reserve Bank of Boston, Cryptocurrency, Bank, Zelle

MONETT, Mo., May 15, 2023 /PRNewswire/ -- Jack Henry™ (Nasdaq: JKHY) announced today that it is operationally ready to support the launch of the Federal Reserve's real-time payments network, the FedNowSM Service. Jack Henry has actively participated in the development of the newest network, expected to launch in July 2023. More than 20 Jack Henry clients will participate in the supporting pilot and early adopter program.

Key Points: 
  • More than 20 Jack Henry clients will participate in the supporting pilot and early adopter program.
  • FedNow is an instant payments network that moves funds directly and immediately between financial institution accounts in the United States.
  • "Processors play an important role in enabling the FedNow Service for many financial institutions," said Ken Montgomery, Federal Reserve Bank of Boston first vice president and FedNow Service program executive.
  • "We appreciate the commitment that Jack Henry has made to be ready to deliver instant payments services when we launch in July."

Payments Summit 2023 and U.S. Payments Forum Meeting Unites Industry to Explore Digital Payment Surge, Fraud Shifts, BNPL, Crypto Concerns and More

Retrieved on: 
Tuesday, April 4, 2023
Bitcoin, National Urban Security Technology Laboratory, Payments Canada, Digital, Visa, Trade-weighted US dollar index, FedNow, Government, Wallet, SVP, Cash App, Organization, Federal Reserve Bank, Fed, Generation Z, Federal Reserve, United States dollar, Apple, Growth, J. P. Morgan, Canada, Blockchain, PAN, B2B, Central bank digital currency, Venmo, Eye, Millennials, History, YOY, Max, Bank of America, International use of the U.S. dollar, PAR, Traction, Research, Fraud, Federal Reserve Bank of St. Louis, Forum, Gen, Federal, Central bank, American Express, USDC, BNPL, CBDC, CNP, EMV, Federal Reserve Bank of Atlanta, Nature, Mastercard, AI, Ecosystem, Bank, PII, Cryptocurrency, Mobile phone, Online shopping, Sales, Payment card, Zelle, Health care

While the U.S. Payments Forum Meeting is closed to non-members, The Payments Summit is open to the public.

Key Points: 
  • While the U.S. Payments Forum Meeting is closed to non-members, The Payments Summit is open to the public.
  • Bad actors are gaining access to valuable rewards accounts, crypto wallets and more to utilize loyalty perks and funds.
  • That’s according to data from the Amex Trendex: Digital Payment Edition shared during the U.S. Payment Forum’s meeting.
  • Over the course of the Payments Summit, the industry weighed the impacts and potential risks of digital currencies on a broad scale.

Financial Institutions Joining the Zelle Network® Increased by 40% in 2022

Retrieved on: 
Thursday, February 16, 2023
FIS, Consultant, Fraud, Early warning, Parity, Small business, Cryptocurrency, Bank, Zelle, Curino

Transactions Climb: Consumers and businesses sent 2.3 billion payments with a total value of $629 billion through the Zelle Network® in 2022.

Key Points: 
  • Transactions Climb: Consumers and businesses sent 2.3 billion payments with a total value of $629 billion through the Zelle Network® in 2022.
  • SCOTTSDALE, Ariz., Feb. 16, 2023 /PRNewswire/ -- Early Warning Services, LLC, the network operator of Zelle®, announced today more than 1,800 financial institutions (FIs) are part of the Zelle Network®.
  • In 2022, consumers and businesses sent 2.3 billion Zelle® payments with a total value of $629 billion.
  • Transaction volumes through the Zelle Network® increased by 26% year-over-year, and the total transaction value increased by 28% year-over-year.