April 18th, 2014 by Elma Jane
Capital One joins existing stakeholders equally owned by Bank of America, JPMorgan Chase, and Wells Fargo. Member-owner of the ClearXchange network.
Capital One has taken a stake in ClearXchange, the US bank-backed clearing house for person-to-person online payments transfer.
ClearXchange is the first network in the U.S. created by banks that lets customers send and receive (P2P) person-to-person payments easily and securely using an email address or mobile number.
With only the recipient’s mobile number or email address, the ClearXchange network enables customers to send funds directly from their bank account to the recipient’s bank account without the need to pass on more sensitive account information.
EVP of digital at Capital One, says partnering with clearXchange is another way of bringing safe and secure payments through convenient, digital channels to their customers.
With membership open to banks and credit unions of all sizes, ClearXchange has so far signed up only FirstBank as its sole non-owner participant, although it nonetheless claims to represent more than 50 percent of the consumer online banking market.
Posted in Credit card Processing, Electronic Payments, Merchant Services Account, Mobile Payments, Payment Card Industry PCI Security, Small Business Improvement, Smartphone, Visa MasterCard American Express Tagged with: account, bank account, Bank of America, Capital One, consumer online banking, digital channels, JP Morgan, market, mobile, online payments transfer, p2p, payments, person-to-person, secure payments, securely, U.S. Bank, US Bank, Wells Fargo
December 9th, 2013 by Elma Jane
Credit Cards accepted on the American Express network will be offered by U.S. Bank. in the fall of 2014.
U.S. Bank becomes another major bank to form a partnership with American Express. As previously reported in August, Wells Fargo began issuing new credit cards accepted on the American Express network on a limited basis this year, with a full scale launch planned for the first half of 2014.
Pam Joseph, Vice Chairman of U.S. Bank, said in a statement, We believe that the American Express network provides a combination of benefits and services that many of our customers want.
The cards will be available to bank customers in the 3,088 branches of U.S. Bank, as well as online and by phone. U.S. Bank customers will also have a choice of obtaining a Visa or MasterCard.
Posted in Credit card Processing, Electronic Payments, Financial Services, Visa MasterCard American Express Tagged with: accepted, American Express, credit cards, MasterCard, network, online, U.S. Bank, visa, Wells Fargo
