April 24, 2019

Early Warning Services LLC, the network operator of Zelle, said that $39 billion was sent over the P2P payment service during the first quarter on 147 million transactions, representing a 54% increase in transaction values at and 72% gain in transaction volume, compared with the year-ago period.

"This past quarter, Zelle achieves several milestones towards our goal of national ubiquity," Lou Anne Alexander, group president, payment solutions at Early Warning Services, said in an announcement. "Our core processor partners have achieved tremendous results, signing more than 130 banks and credit unions in Q1."

During the first-quarter of 2018, the company reported $25 billion moving through Zelle on 85 million in transactions.

Alexander said the company also launched a marketing campaign focusing on everyday case uses for Zelle.

Topics: Bill Payment, Mobile Apps, Mobile Banking, Money Transfer / P2P, Trends / Statistics

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April 24, 2019

Mastercard has entered an agreement with BMO Bank of Montreal to implement Mastercard Send, which will allow faster cross-border payments for its Canadian-based business and commercial banking clients, according to a company release.

Mastercard Send will allow the bank to move cross-border payments to bank accounts in more than 75 countries worldwide. Initially focused on bank accounts, the service eventually will allow payments to mobile wallets and card accounts, as well.

"Consumers today expect quicker access to their funds, but businesses face numerous challenges when making cross border payments," Brian Lang, president of Mastercard in Canada, said in the release. "Mastercard Send helps banks modernize their cross-border services and deliver a better experience to their clients.”

Sharon Haward-Laird, head of North American treasury and payment solutions at BMO Bank, said the bank has a long history of working in the cross-border payment area.

"As a result we have a deep understanding of the complexities involved in running a cross-border business, including as it relates to payments," she said. "And this latest offering with Mastercard Send reflects our commitment to providing customers with solutions that deliver against their changing expectations and needs."

Topics: Card Brands, Mobile Banking, Mobile Payments, Money Transfer / P2P

Companies: MasterCard

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March 26, 2019

Citi is developing a consumer payments business through its treasury and trade solutions unit that will enable payments made directly to institutions through the Mastercard network, according to a company release.

The plan is part of an effort by the TTS unit to expand beyond wholesale payments and enable digital commerce. The plan would allow institutional merchants to collect a wide range of payments, including card, e-wallet and newer forms of bank transfers such as request to pay and open banking as they gain traction in the marketplace.

Citi said it will work with Mastercard payment gateway services, which is already integrated with numerous e-wallets and payment gateways around the world. Citi will allow connections to its proprietary transaction service and foreign exchange businesses. The institution is directly connected to instant payment systems in more than 20 countries, for example, the open banking network in the U.K., the release said.

"Our mission is to power frictionless payment acceptance with nimble technology," Naveed Sultan, head of TTS at Citi, said in the announcement. "We want to extend our leadership beyond the B2B payment space by developing capabilities to enable institutions to collect from consumers in a globally consistent and seamless fashion."

Topics: Bill Payment, Mobile Banking, Mobile Payments

Companies: Citi, MasterCard

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April 24, 2019

Civic Network announced it will release its Civic Pay app to enable partners to combine identity verification, payment and rewards into a single transaction. The company has also announced 12 automated retail partners: AAEON, AR Systems, Fastcorp Vending, Global Vending Group, greenbox Robotics, Invenda, IVM, IVS, Retail Automated Concepts, SandenVendo, The Venders and Wemp, according to a press release.

The Civic Pay app will bring blockchain-powered innovation to the industry with simple access to age-gated products, an improved user experience and personalized rewards.

By integrating the Civic Pay app with automated retail solutions and smart vending machines, these partners will introduce the first real-world, Civic Pay use cases, where people can prove identity and pay for a product in a single transaction. Together, these companies represent over 1 million connected vending machines.

Combining identity with payment will further advance Civic partners' automated retail solutions and expand vending opportunities for a growing market. Currently, there are over 3 million connected vending machines globally, a number expected to grow to 5.4 million by 2022, according to Berg Insight.

Most transactions require some form of identity verification and building identity verification into payment functionality simplifies that process. Vending machines make digital identity accessible and give people the ability to experience new technology. In addition, with the Civic Pay app, once users are verified, they are able to use the same verification over and over again, further streamlining the identity and payment process.

"Vending machines represent an introduction to the mass market, where people can see how digital identity functions in the real world, as well as opening up an entirely new market for automated retail," Vinny Lingham, Civic CEO and co-founder, said in the press release.

Topics: Mobile Apps, Mobile Payments, Retail, Technology Providers

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April 24, 2019

Allset, a San Francisco-based mobile pre-ordering platform, has launched in the Miami restaurant market and expand to other major cities, including Washington D.C., Philadelphia and Phoenix, after previously operating in 10 markets before the Miami launch.

The platform allows diners to make reservations, order restaurant meals and pay for them through a mobile app before arriving at the restaurant.

"Most apps only allow you to book a table or order pickup/delivery,"Stas Matviyenko, told Mobile Payments Today via email. "Allset offers you more options: You can order ahead for dine-in and eat inside the restaurant, or order pickup and enjoy your food whenever you want. Your reservation and check are also taken care of."

In addition, Matviyenko said Allset allows users to get a table at restaurants that don't otherwise take reservations either online or by phone, because the service pays and tips the restaurant in advance, and the restaurant knows exactly when the client arrives.

Lastly, the platform uses artificial intelligence to analyze peak hours at restaurants to determine whether to send more or fewer reservations.

The company has already signed with a number of major restaurant chains in multiple markets, including Buffalo Wild Wings, Bj's Restaurant and Brewhouse, Bareburger, Freshii and other brands. It also launched an integration three months ago with Google Maps, which allows customers to order through the service. In addition, Allset is integrated with multiple POS systems and kitchen printers, including Olo, Checkmate and Ordermark, which makes it easier for certain restaurants to accept reservations through the service, according to the release.

Several Miami restaurants, including Dos Alas Kitchen, Loui, Syndicate Kava Bar & Tap Room and Novello Restaurant & Bar, have signed up for the service, and about 30 area restaurants are set to go live in the first few weeks.

The startup firm has $8.3 million in funding, including backing from private equity investors like Andreesen Horowitz.

Topics: In-App Payments, Mobile Payments, Restaurants

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March 26, 2019

T-Mobile has announced a major expansion into same-day funding for SMEs with GoPoint by T-Mobile for Business.

According to a press release, GoPoint mobile point-of-sale technology provides free same-day funding with no software licensing fees. The service also avoids other excessive charges that businesses usually have to pay, such as security fees, audit fees, conversion fees and over-the-limit fees.

To use GoPoint, a business must have a compatible phone or tablet with T-Mobile One service and a GoPoint card reader. Businesses pay processing fees of 2.75 percent for debit and credit card transactions, the release said.

The carrier also has announced T-Mobile for Business Marketplace, which offers affordable mobile device management and one free year of QuickBooks Online.

"T-Mobile is on a mission to eliminate pain points for consumers and businesses alike," said Mike Katz, executive vice president of T-Mobile for Business. "When we looked at the insidious practices and never-ending fees mobile POS providers charge small businesses we knew the Un-carrier needed to step in."

Topics: Handsets / Devices, Money Transfer / P2P, Technology Providers

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