Bank Innovation

MARCH 17, 2017

Boston-based money transfer firm Flywire has launched a new offering, targeted at international business-to-business (or B2B) payments. The fintech will enable faster settlement between businesses, seeking to make those transaction “local.”

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PYMNTS

MARCH 22, 2019

“From mobile ticketing to digitizing commuter cards and enabling contactless payments, Mastercard has already embedded its technology in 16 metro areas including Los Angeles, Boston and Denver to make getting from Point A to Point B as simple as buying a morning cup of coffee,” the company said.

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AUGUST 21, 2020

And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the use cases to get there. Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency.

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JULY 31, 2019

says its insurance customers can now receive claim payments through the digital platform PayPal. This is the natural evolution of our claim payment processes, and it is one more way we’re making the entire claim experience easier.”. It is teaming up with NACHA – The Electronic Payments Association to make this happen.

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PYMNTS

DECEMBER 11, 2017

Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. Kenneth Montgomery, first vice president and chief operating officer of the Federal Reserve Bank of Boston, is taking up the position. Treasury and financial market, among other responsibilities.

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PYMNTS

AUGUST 14, 2020

A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. Digital dollars on the horizon? Maybe – but first comes a focus on policy.

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PYMNTS

JUNE 8, 2020

Amy’s payments industry insight and unique experience in properly scaling a company will be valuable assets to our growth strategy,” said Paytronix CEO Andrew Robbins. “I Porter nabbed the 2016 EY Entrepreneur of the Year Award in the Financial Technology category for the Central Texas region.

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PYMNTS

SEPTEMBER 24, 2020

The funding initiative is being led by existing investors Great Hill Partners LP, the Boston-based private equity firm, Eight Roads Ventures, the global venture capital firm based in China and.406 406 Ventures, the Boston venture capital fund. MineralTree Inc.,

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PYMNTS

AUGUST 24, 2019

As diehard baseball geeks pout about having to share TV time with another major sport, and most of the country goes into New England Patriot-hating mode, the digital payments and commerce industry gets pretty optimistic – and even excited. That’s because every NFL season promises to bring advances in payments. Biometric Plays.

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PYMNTS

SEPTEMBER 25, 2020

Her speech, entitled “Payment and the Pandemic,” included a section on digital currencies. And as PYMNTS has previously reported , the Boston Federal Reserve has been working with the Massachusetts Institute of Technology to explore tech infrastructure. The Fed, of course, is hardly alone in mulling digital fiat currencies.

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PYMNTS

AUGUST 7, 2020

For the Federal Reserve, real-time payments will take time — three or four years’ time, to be specific. Federal Reserve Board members this week shed some light on the timing and mechanics of FedNow — an always-on, fully interoperable interbank-settlement service that will give rise to instant payments in the United States.

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America Kansas City Payments Kansas 189

PYMNTS

NOVEMBER 14, 2017

s first new payment and clearing system in more than 40 years is up and running. was moved between accounts at two different banks (there was only one customer with two bank accounts) via RTP, the name for a new “Real-Time Payments” system set up by The Clearing House. At 4:59:40 p.m. on Monday, $3.50 Progress in the U.S.

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PYMNTS

JUNE 23, 2020

New payments infrastructure continues to gain traction with financial service providers looking to modernize their services for business clients. The Clearing House’s RTP finds expansion within the community bank arena, while abroad, the Bank of Thailand is planning its own infrastructure development to accelerate B2B payments.

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MARCH 16, 2018

Through the collaborative efforts of those with backgrounds in payments and security, the Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles.” The profiles provide a perspective on the most common payment types, covering enrollment, transaction flow and reconciliation.

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Security Payments Boston Fraud 100

PYMNTS

FEBRUARY 5, 2020

operated Bacs and partnered with Boston payments firm Bottomline Technologies to enable direct debits for small to medium-sized businesses (SMBs), Metro announced on Wednesday (Feb. By removing the complexity of regular payments we can save customers vital time, that can better be spent running and growing their businesses.”.

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PYMNTS

NOVEMBER 23, 2020

It uses payment data, location data, unique customer data and digital identifiers to detect fraud in real time. The technology enables more intelligent decisions when it comes to identifying and predicting fraud by providing a meta analysis of attacks, allowing QSRs to create fraud profiles and determine where threats may be located.

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DECEMBER 24, 2020

Jeremy Allaire , CEO of financial technology firm Circle , told PYMNTS that digital currencies are ready to transition from speculation to become more broadly adopted in everyday commerce. . At a high level, that means helping crypto companies and FinTechs come to market with crypto payments across the Visa rails.

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PYMNTS

NOVEMBER 6, 2018

In the United States, following the introduction of mobile ticketing on Metro North and Long Island Rail Road (LIRR) in 2016, tap and go payments are expected to become available on New York City’s subway and bus systems as of 2019. And over the next two years, Boston will introduce a new fare payment system, including contactless options.

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PYMNTS

JANUARY 17, 2020

These days, it seems like you can hardly go a minute without hearing about the rise of 5G, the spread of facial recognition or how friction is being removed from all types of payment methods. The agency has approved almost 13,000 low-Earth orbit satellites, which encompass 11,943 for Elon Musk’s Space Exploration Technologies Corp.

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PYMNTS

OCTOBER 31, 2016

From loyalty to inventory management and data to omnicommerce strategy, there’s no shortage of available features and options for retailers looking to upgrade to full-service payments solutions. Around the full-service payments world. To download the October edition of the Payments as a Service Tracker™ , click the button below.

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Payments Boston Retail System 100

PYMNTS

DECEMBER 9, 2019

Automated business payments processing firm AvidXchange is launching a new fundraising round that could give the firm a $2 billion valuation, The New York Times reported on Monday (Dec. Investment bank Financial Technology Partners is advising AvidXchange on this fundraising round, according to sources. 9), citing sources.

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PYMNTS

JUNE 14, 2020

In an email, Square told Tamara Hudson , Bluebonnet’s owner, the decision was based on the fact that she works in an industry where payment disputes are common, and she hasn’t been using Square’s service for very long, the newspaper reported. Some categories, including travel, had chargebacks of 40 percent.

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PYMNTS

OCTOBER 13, 2020

The partnership with LevaData comes as Boston-based Bain, through its supply chain management consulting practices, works with companies looking to digitalize their supply chain network. LevaData’s cognitive platform is delivering the future of supply management to sourcing and NPI teams,” said David Schannon, partner at Bain & Company.

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Payments Source

APRIL 21, 2016

social payments are even newer in the U.K., where Circle hopes a collaboration with Barclays and a dash of blockchain will interest consumers in sending payments the same way the send tweets and texts. A relatively new concept in the U.S.,

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Payments Source

MARCH 15, 2017

The surge of students seeking an overseas education in recent years powered rapid growth for Flywire, a Boston-based payments technology firm that handles cross-border tuition payments. It must now test whether the global network it built can serve the B-to-B market as well.

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PYMNTS

DECEMBER 18, 2020

In terms of mechanics in the Bahamas, the Sand Dollar is issued directly into digital wallets that are in turn held by a half-dozen money transfer and payment firms. Meanwhile, the Boston Fed has been working with the Massachusetts Institute of Technology to explore the necessary tech infrastructure.

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Cleveland Massachusetts Boston cryptocurrency 357

PYMNTS

DECEMBER 12, 2019

When Visa launched a contactless payments pilot with New York’s Mass Transit Authority (MTA) seven months ago, the company started small, and with modest goals. This “public pilot” made contactless payments available on a few train lines, and only at 16 stations, including Grand Central Station and Union Station. Yesterday (Dec.

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New York US Payments Training 167

PYMNTS

JANUARY 15, 2021

Despite that, there have been early studies of such payment methods at the central bank’s Boston location, CoinDesk reported. According to Powell, the Fed is “investing heavily” in the technology and is looking into the policy questions posed by CBDCs.

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PYMNTS

JANUARY 25, 2018

Beyond the technology and the plate lies concept. In an interview with PYMNTS, CEO and Founder of Reviver Auto Neville Boston said that for the firm, which traces its genesis to 2009, the “initial thought process was simplifying the registration process. The conversation, as it often does with technology, turned to security.

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NOVEMBER 24, 2020

Record sales following a massive staff reduction prompted point-of-sale (POS) restaurant technology (ResTech) startup Toast to hold a share purchase offering on an $8 billion valuation. The secondary offering gives Boston-headquartered Toast a valuation of about $8 billion, up from a $4.9 A Toast spokesperson told CNBC on Tuesday (Nov.

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PYMNTS

SEPTEMBER 30, 2019

As weaknesses in authorization systems can be exploited by online thieves, financial services firms are more vulnerable to hackers and get hit 300 times more often than other businesses, according to the Boston Consulting Group. As cyberattacks grow in scale and sophistication, it is critical that we advance trust in our payments system.”.

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Boston Security System Cards 177

PYMNTS

SEPTEMBER 17, 2020

One key reason: the New Payments Platform is doing just fine. But: The bank is keeping an eye on the experiences and progress of other nations, and still is researching its own technological and “policy implications” of wholesale forms of CBDC. As reported by Cointelegraph Thursday (Sept.

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Policies Boston Examples ATM 181

PYMNTS

FEBRUARY 13, 2020

Vertical payments startup Flywire has acquired healthcare technology startup Simplee , while also closing a $120 million Series E investment round led by Goldman Sachs, the company announced on Thursday (Feb. The global payments industry is expected to increase at a CAGR of 5.9

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Boston Capital Industry Payments 130

PYMNTS

MARCH 17, 2017

And it was in the spirit of Festivus that Alexander met the crowd at Fenway last night — ready, willing and more than able to begin a good-natured airing of the grievances about payments, commerce and the Innovation Project as a whole. Gold: Payment Source. Alexander questioned, for example, how Adm. Not much of a chat.”.

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Innovation Payments social media America 175

PYMNTS

MARCH 2, 2020

Experiences marketplace Groupon is teaming up with tours and activities technology firm Redeam to expand local and global experiences, Groupon announced on Monday (March 2). . It reduces manual processes while increasing payment reconciliation timelines. . It strives to advance ticket sales while offering a seamless check-in process.

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PYMNTS

SEPTEMBER 14, 2020

The dine-in payment feature will launch in Atlanta, Boston, Chicago, Indianapolis, Philadelphia, New York City, Vermont, and Washington, D.C. In July, Uber Technologies agreed to purchase delivery firm Postmates Inc. The food pickup option will be available everywhere Friday (Sept. Instacart came in fourth.

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APRIL 28, 2020

And in those cases, Jonathan Parker, an economist at the Massachusetts Institute of Technology, told the Boston Globe , the attempt was pretty successful. Next year’s budget is a mystery, she told the Boston Globe – which meant when her stimulus funds arrived, they went straight into rainy-day savings. .

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