John Adams

Public transit is recovering slowly from the pandemic, but ridership could increase if cities cater to a strong demand for contactless ticketing and digitized fare discounts, according to Visa.

The mobile-focused challenger bank is adding payments hardware, expanding its services for consumers and businesses.

By acquiring the Latvian data-sharing specialist, the London-based payment company hopes to beat fintech rivals in the race to power account-to-account transactions.

Fears of a recession abound, but payment and other financial technology companies that can address pressing business challenges will draw funding, according to venture capital investors.

Meta's Facebook has discontinued a digital wallet that was originally meant to help people use the Diem stablecoin. But its Meta Pay platform is more conventional — and thus more likely to succeed where Novi failed.

Meta's wallet, which was designed to support the Diem cryptocurrency, will close in September. It's the latest setback for Meta's goal to build a broader payments system.

Banks and payment companies may have to decide whether to proactively protect or prohibit transactions for abortion treatment. Any action — or inaction — can be seen as taking a position on the highly divisive issue.

More banks, fintechs and organizations are launching projects or implementing plans to speed transaction processing.

The card network has found common ground with retailers, revising its policies to help them better combat a type of fraud where consumers attempt to dispute legitimate purchases.

The U.K.'s Payment Systems Regulator is reviewing the card brands' fees, and promises to support competition for the U.S.-based companies.