Open Payments Coalition Launches Universal Payment ID
More than 40 different FinTechs, digital currency companies and nonprofits are teaming up to launch a universal payment ID in a bid to make transferring money akin to sending an email. Members of the newly-formed Open Payments Coalition, which include GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, and Mercy Corps, say the newly minted PayID will … Continue reading Open Payments Coalition Launches Universal Payment ID Continue Reading
Payments technology company InComm is expanding its offerings in the OTC benefits card business to include transportation for seniors needing a ride to the doctor’s office. The Atlanta-based payments company said Thursday (June 18) it is teaming up with American Logistics and Uber Health to launch a transportation benefit program. The new program will enable Medicare … 
DoorDash said it is raising roughly $400 million in Series H financing led by new investors Fidelity Management & Research Co. as well as Durable Capital Partners LP in addition to current investors, accounts and funds that T. Rowe Price Associates, Inc. advises. The financing puts the delivery company’s worth at nearly $16 billion, according to … 
Vendorcom wants answers. The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority, the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). Introduced two years ago, SCA is designed to ensure electronic payments are authenticated in multiple ways to boost security and curb fraud. Credit cards … 
A pair of former Federal Reserve economists said they think the government should ease the rules on who can participate in the U.S.’s Main Street Lending Program intended to aid small- to medium-sized businesses (SMBs), The Wall Street Journal (WSJ) reported. The program is intended to help companies with up to 15,000 employees or less than $5 billion in revenue from … 
The Independent Restaurant Coalition (IRC) has proposed a $120 billion relief package to prevent further closures and job losses due to COVID-19. The trade group, founded in March by U.S. chefs and restaurant owners, said it has built a grassroots movement to protect the nation’s 500,000 independent restaurants and millions of restaurant workers impacted by COVID-19. Dubbed the Restaurant … 
Some residents of France who use Western Union online services to wire money to friends and family in certain African countries will be offered free one-month, 1,000-euro life and disability policies benefiting those recipients under a pilot program, according to a press release. The Transfer Protect service offered by Western Union and French insurer AXA includes numerous features aimed at … 
To let financial institutions provide trade finance functions to their small and medium-sized business (SMB) customers, Toronto-based Surecomp has rolled out its Fastrade front office product. The company said the technology lets trade-finance providers bolster customer service with an “easy-to-deploy, intuitive and scalable multi-bank channel” to automate trade-finance procedures, according to an announcement. “We have responded to demand … 
As the pandemic continues to disrupt everyday life the world over, educational institutions are providing refunds. Students at Louisiana State University (LSU), in one case, are set to receive reimbursements for some charges. LSU said it foresees returning almost $5.2 million to students, with the inclusion of dining plan and housing reimbursements, WDSU reported. The report comes as classes … 
Albertsons Cos., the nation’s second-largest supermarket chain, is preparing for an initial public offering (IPO), according to a U.S. Securities and Exchange Commission (SEC) filing. Founded 80 years ago, the Boise, Idaho, chain has been owned for the past 14 years by private equity firm Cerberus Capital Management, according to Supermarket News, which first reported the IPO in …