PaymentsJournal

PaymentsJournal offers up-to-date insights on the evolving trends in the payments industry. As part of Javelin Strategy & Research, PaymentsJournal keeps a close eye on the payments, banking, and fintech sectors. It covers a wide range of subjects including credit, debit, cryptocurrency, buy now, pay later (BNPL), and various other related topics.

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Articles

Xero to Acquire Melio, Advancing Its U.S. Small Business Strategy

3 days ago | paymentsjournal.com | Tom Nawrocki

Xero, a New Zealand-based platform for small businesses, is making a major move into the U.S. market with plans to acquire Melio Limited, a bill pay platform that serves small and medium-sized businesses. The acquisition, valued at $2.5 billion, will be a mix of cash and equity. Melio currently serves 80,000 customers and processes more than $30 billion in payments annually.
Walmart’s Wire Transfer Policies Lead to $10 Million Fine

4 days ago | paymentsjournal.com | Tom Nawrocki

For years, Walmart turned a blind eye to criminals who coerced victims into sending them wire transfers through its in-store money transfer services, according to the Federal Trade Commission. Walmart has now agreed to pay $10 million to settle the allegations. FTC’s investigation found that Walmart failed to implement basic anti-fraud safeguards, such as proper employee training and customer alerts.
FICO Debuts Credit Scores with BNPL Data

5 days ago | paymentsjournal.com | Tom Nawrocki

After a year of research, FICO is introducing two new credit score models that incorporate buy now, pay later data in their calculations. FICO Score 10 BNPL and FICO Score 10 T BNPL will be available alongside the existing versions of the FICO Score at no additional cost, giving lenders the ability to evaluate the impact of BNPL data within their current evaluation processes.
African Trade Turns Inward Amid Growing Tariff Disputes

1 week ago | paymentsjournal.com | Tom Nawrocki

As trade wars escalate globally, an African payment system is accelerating its efforts to enable businesses across the continent to conduct cross-border transactions in local currencies. The Pan-African Payments and Settlements System (PAPSS) allows companies in different African nations to trade without relying on the dollar.
How Banks Can Capture the Wealth Transfer from Boomers to Gen Z

1 week ago | paymentsjournal.com | Tom Nawrocki

As we stand at the gates of the world’s greatest generational wealth transfer, from the Baby Boomers down to their heirs and descendants, banks are positioning to capture those assets. This requires a long-term multigenerational strategy, one for which a bank must start sowing the seeds now so it can win later—perhaps much later.
Inside the Senate’s Newly Passed Stablecoin Bill

1 week ago | paymentsjournal.com | Tom Nawrocki

The Senate’s passage of the GENIUS Act marks the first time stablecoin legislation has cleared either Congressional chamber, along bipartisan lines. The bill—establishing federal standards for the issuance, trading, and custody of stablecoins—passed with a 68-30 vote, including support from 18 Democrats. The House of Representatives must now pass the bill for it to become law. However, the Senate may have been the tougher nut to crack.
Payment Processor Paddle Fined Over Role in Scams

1 week ago | paymentsjournal.com | Tom Nawrocki

The Federal Trade Commission has fined Paddle $5 million over charges that the UK-based payment processor facilitated access to the U.S. credit card system for fraudulent foreign tech support operations. These schemes allegedly defrauded U.S. consumers out of millions of dollars.
Two Trailblazers in Unattended Retail Are Teaming Up

1 week ago | paymentsjournal.com | Tom Nawrocki

The future of unattended retail may have taken a big step forward with the union of two major players in the market. Cantaloupe, a fintech specializing in self-service commerce, has been acquired by 365 Retail Markets for $848 million. The acquisition combines Cantaloupe’s expertise in payment processing and software services with 365 Retail Markets’ self-checkout technology.
New Tools Available in the Fight Against Elder Fraud

2 weeks ago | paymentsjournal.com | Tom Nawrocki

Nacha is expanding its support for banks and financial institutions in addressing elder financial abuse. The organization’s Payments Innovation Alliance has issued new tools designed to help account holders who may be at risk of elder fraud and to raise broader awareness about financial exploitation targeting older adults. The tools are being released in conjunction with World Elder Abuse Awareness Day (WEAAD), observed annually on June 15.
RTP’s Raised Limit Powers New B2B Real-Time Use Cases

2 weeks ago | paymentsjournal.com | Tom Nawrocki

Since The Clearing House increased its real-time payments transaction limit from $1 million to $10 million in February, returns have been positive. Bank of America reports that transactions over $1 million now account for more than half the total value of U.S. real-time payments it processes for corporate clients. The RTP network’s transaction limit had been $1 million since April 2022, when it was raised from $100,000.