Fintech News

SEPTEMBER 22, 2024

Global highlights: January – December 2023, Source: Confidence Amid Chaos: Managing Fraud and Scams with Data and Analytics, LexisNexis Risk Solutions In financial services, new account creation attacks increased by 12% YoY, driven by increases on the mobile channel, primarily mobile browser. of all cases.

Accounts 142

Accounts Scams Bots Account Takeovers 142

Finextra

NOVEMBER 21, 2024

Pinwheel, a fintech that helps financial institutions win primacy with frictionless activation, has been chosen by MANTL, a leading account origination provider, to be the preferred provider for Direct Deposit Switching.

Direct Deposit 52

Direct Deposit Origination Accounts FinTech 52

Payments Dive

NOVEMBER 15, 2023

The buy now, pay later provider’s account will offer savings-level interest, ATM access and direct deposit, Affirm executives said.

Accounts 88

Accounts Direct Deposit ATM 88

PYMNTS

APRIL 22, 2020

If your $1,200 federal COVID-19 stimulus payment has been deposited into your bank account by the Internal Revenue Service (IRS), consider yourself one of the lucky ones. All he could say is that the IRS will direct-deposit the money or mail checks through the spring and summer. The assistance was made possible by the $2.2

IRS 130

IRS Checks Direct Deposit Bank Routing Number 130

PYMNTS

APRIL 13, 2020

The stimulus checks — some of them, anyway — are coming, via direct deposit, to tens of millions of Americans’ bank accounts over the next several weeks. In other words, the recipients would create checking accounts at the Federal Reserve Banks (there are 12 of them).

Fed 99

Fed Federal Reserve Accounts Direct Deposit 99

PYMNTS

DECEMBER 19, 2019

With a problem at the Federal Reserve that has since reportedly been fixed, direct deposits, as well as other financial transactions, were delayed on Thursday (Dec. Banks were told about a “disruption” in the automated clearing house (ACH) network that brought about delays in settlements, CNN reported. The Fed noted at 10:31 a.m.

Direct Deposit 52

Direct Deposit Fed Federal Reserve ACH 52

Finextra

JUNE 6, 2024

Mastercard has updated its Open Banking platform to enable people to automatically switch their direct deposits and update their recurring bill payments when they open or update an account.

Visa 78

Visa Direct Deposit Accounts Payments 78

PYMNTS

FEBRUARY 22, 2019

In the quest for ill-gotten gains, fraudsters have a myriad of ways to try to scam unwitting victims, intercepting funds or having them sent to their own accounts. Internal Revenue Service (IRS) said that ahead of tax season, preparers and other victims received requests to change direct deposit activity. In December, the U.S.

Direct Deposit 54

Direct Deposit Scams IRS Business Email Compromise 54

Fintech Finance

APRIL 30, 2024

This collaboration brings direct deposit, verification of income and employment (VOIE), and payment method switching solutions to financial institutions aiming to secure more primary account holders and elevate the consumer banking experience. ” Seamless digital experiences are a key piece in account primacy.

Direct Deposit 52

Direct Deposit Online and Mobile Banking Verification Payments 52

PYMNTS

APRIL 9, 2020

The first round of emergency assistance is expected to reach people who have previously provided direct deposit information to the Internal Revenue Service (IRS). Most Social Security recipients get their benefits through direct deposit, according to the congressional committee’s announcement.

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IRS Direct Deposit Social Security Accounts 102

PYMNTS

APRIL 12, 2020

People with direct deposit on file with the IRS will be among the first to get coronavirus relief funds when stimulus payments start going out this week, according to numerous reports Sunday (April 12). Initial payments had already started being deposited into bank accounts on Friday night (April 10), the official said.

IRS 123

IRS Direct Deposit Consumer Payments 123

PYMNTS

AUGUST 18, 2020

The payments will be made in a variety of ways, including direct deposit for around 12 million people and paper check for everyone else. Those who get an interest payment of at least $10 will have to file it on next year’s taxes, the release stated, and the IRS plans to send a Form 1099-INT to those people.

IRS 120

IRS Checks Direct Deposit Tax Refunds 120

PYMNTS

APRIL 16, 2020

.” The prepaid card, which offers cardholders an alternative to brick-and-mortar banks, can accept direct deposit payments, including paychecks and government benefits. They will then receive account information that can be used to update to their direct deposit information once enrollment is completed.

Direct Deposit 94

Direct Deposit Treasury Deposit Account Enrollments 94

Stax

NOVEMBER 13, 2024

Making a payment via the ACH network differs from making a payment with a credit card in that you are sending the money directly from one account to another, instead of charging it to a card you would later be liable to repay. The receiving bank then credits the money to the account of the receiving customer.

ACH 88

ACH ACH Network Payer Payee 88

PYMNTS

OCTOBER 21, 2020

Instead of getting a tiny amount of interest like you would from a traditional savings account, you get the chance to win more substantial prizes.”. Depositors get two free tickets to Yotta’s weekly sweepstakes-style drawings for every $50 they have on deposit. A Popular Format in Britain. New Competitors Seem Likely. Growth Plans.

Accounts 92

Accounts FDIC Direct Deposit Product 92

Fintech Finance

OCTOBER 21, 2024

Atomic is excited to announce a new integration with MX Technologies that combines MX’s data and analytics solutions with Atomic’s Deposit and PayLink products. This partnership is designed to deliver a simplified account switching experience for financial providers and consumers alike.

Direct Deposit 94

Direct Deposit Accounts Consumer Finance 94

The Fintech Times

JANUARY 6, 2025

Merchants using Labamu can get invoice and bill payments directly deposited to their bank accounts.” ” By offering access to financial services such as embedded banking and operating account, and later procurement and working capital financing, Labamu also looks to help accelerate SME growth in the region.

APACS 59

APACS Small Business Direct Deposit Accounts 59

TechCrunch Fintech

MARCH 31, 2025

The digital bank is offering customers who agree to have their paychecks directly deposited into a Chime savings or checking account an APY of 3.75%, it tells TechCrunch exclusively. As it gears up to go public, Chime is going all in on new features in an effort to attract more customers. For those who dont […]

Direct Deposit 94

Direct Deposit API Checks Accounts 94

Nanonets

APRIL 30, 2024

QuickBooks offers a range of contractor payment options, but the base QuickBooks Online platform lets users quickly pay contractors via direct deposit and check. Paying Contractors through Direct Deposit Paying contractors through direct deposit with QuickBooks Online is just as simple.   Of course!

Direct Deposit 98

Direct Deposit Payroll Checks Cross-Border 98

The Paypers

SEPTEMBER 1, 2023

Alkami has partnered with Atomic to offer a direct deposit switch solution to US-based financial institutions, enabling account holders with seamless payroll account connections.

Direct Deposit 41

Direct Deposit Payroll Accounts 41

Finovate

APRIL 18, 2024

Bankjoy will help its more than 70 bank and credit union customers integrate Pinwheel’s digital deposit switching (DDS) solution, Pinwheel Prime. Pinwheel Prime has been credited with increasing direct deposit enrollment by 32%. Emporia State FCU has more than $130 million in assets and 7,800+ members.

Direct Deposit 59

Direct Deposit Accounts Credit Union Online and Mobile Banking 59

The Finance Weekly

NOVEMBER 8, 2022

From accounting and payroll management to budgeting and forecasting, finance is the reason and numbers behind every bit of data that passes through the organization. Here are the 7 best finance software solutions broken down into different categories: 1) Accounting. Perhaps there is no bigger name in accounting than Intuit.

Finance 245

Finance Payroll Payment APIs and Integration PayPal 245

Stax

APRIL 23, 2024

TL;DR Nearly 93% of Americans receive payments through direct deposit; Automated Clearing House makes it simpler for employers to manage funds without handing out physical checks or dealing with pesky extra fees. Many small businesses choose ACH operators because they are more convenient than most direct deposits.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88

PYMNTS

MAY 26, 2020

With features such as free cash deposits and a high-yield savings account, Walmart and Green Dot unveiled updated benefits for the Walmart MoneyCard Reloadable Debit Card program. And, with ASAP Direct Deposit, consumers can get their pay as soon as two days prior to payday or government benefits as soon as four days early.

Direct Deposit 88

Direct Deposit Debit Card IRS Deposit Account 88

PYMNTS

JUNE 29, 2020

The Palo Alto, California startup said the no-fee account is the company’s latest move to build a next-generation banking service that is branchless, automated and optimizes every dollar. A debit card can now be added to the Wealthfront Cash Account to make purchases and get cash from a nationwide network of fee-free ATMs. percent.

Accounts 60

Accounts Direct Deposit Tax Refunds FinTech 60

The Payments Association

JANUARY 13, 2025

Specifically, there are concerns about whether the benefits of additional reporting, record-keeping, and audit requirements outweigh the costs and whether the proposal for firms to receive relevant funds directly into a designated safeguarding account is operationally feasible in all cases.

Compliance 88

Compliance Audit Legal Reconciliation 88

PYMNTS

APRIL 10, 2020

People who provide banking information will get a direct deposit; everyone else will get a check mailed to the provided address. Get My Payment will provide people with the status of their payment, including the date their payment is scheduled to be deposited into their bank account or mailed to them,” the IRS said.

IRS 145

IRS Checks Social Security Consumer 145

Stax

MARCH 27, 2025

TL;DR: Electronic Funds Transfer (EFT) is the umbrella term for all electronic payments made between bank accounts. EFT is the umbrella term for all electronic transactions that transfer funds digitally between bank accounts using only bank account information. You want to simplify payroll processing and government deposits.

ACH 88

ACH Electronic Funds Transfer (EFT) Wire Transfer Wire 88

PYMNTS

APRIL 13, 2020

The Consumer Financial Protection Bureau (CFPB) has made it easier for people to access stimulus CARES Act funds by removing some of the legal barriers barring banks from issuing the payments through prepaid accounts, according to a press release.

Electronic Fund Transfer Act (EFTA) 111

Electronic Fund Transfer Act (EFTA) CFPB Consumer Financial Protection Bureau (CFPB) Direct Deposit 111

Fintech Finance

SEPTEMBER 9, 2024

The DailyPay Visa® Prepaid Card will remain a general purpose reloadable (GPR) card with an app that allows users to transfer a portion of their earned wages to the card in real time*, and with no fee** if the user has updated their direct deposit to the card. Other fees and limits apply. See Cardholder Agreement for details.

Direct Deposit 98

Direct Deposit FDIC Credit Cards Debit Card 98

PYMNTS

MARCH 26, 2020

As reported, those Americans with direct deposit account information stored with the Internal Revenue Service (IRS) — the conduit through which they get refunds — will get those payments within a few weeks after legislation is finalized and signed. Prepaid cards also can allow those without bank accounts (i.e.

Checks 100

Checks Push-to-Card Direct Deposit IRS 100

Payment Savvy

MAY 16, 2023

Instant ACH transfers are a modern innovation in digital payments, allowing for near-real-time movement of funds between bank accounts. Types of ACH Transfers Direct Deposit Direct deposits are electronic transfers of funds from governments or businesses directly into a recipient’s bank account.

ACH 94

ACH Same Day ACH Direct Deposit Consumer Financial Protection Bureau (CFPB) 94

PYMNTS

APRIL 5, 2019

gig workers accounting for more than $1.4 What’s more, workers who find roles through these marketplaces are much more likely to receive their money via direct deposit or PayPal , as opposed to more cumbersome methods like cash or check. In fact, the share of those in the gig economy with highly specialized skills rose to 32.3

Direct Deposit 81

Direct Deposit Economy PayPal Instant Payments 81

Payment Savvy

NOVEMBER 9, 2022

An Electronic Funds Transfer (EFT) is the movement of money electronically from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems. Setting up direct deposit for your paycheck. Transferring money between your own accounts at different banks.

Online and Mobile Banking 98

Online and Mobile Banking Wire Transfer Direct Deposit ACH 98

Fintech Finance

AUGUST 7, 2024

Low Cost: Merchants benefit from no service charges and complete protection against exchange rate losses on collected payments.

Cross-Border Payments 97

Cross-Border Payments Cross-Border Security Direct Deposit 97

CB Insights

AUGUST 2, 2018

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. mobile-first bank accounts.

Debit Card 71

Debit Card Checks Accounts FinTech 71

Fintech Finance

AUGUST 19, 2024

employees whose pay is processed through UKG Pro the ability to easily set up PayPal Direct Deposit through their employer’s payroll portal. Employees can choose to automatically deposit some, or all of, their paycheck into their PayPal Balance account each pay period, and payroll funds may be available up to two days ahead of time.2

Payroll 52

Payroll PayPal Direct Deposit Payment APIs and Integration 52