John Adams

Regulators said the payment company did not provide sufficient customer identification and monitoring, increasing risk for its transfer app. This week's fine follows earlier penalties in other states and the federal government.

Investors are finding a haven from stock market and crypto volatility, but an economic downturn could slow overall spending, imperiling stablecoins in retail and corporate transactions.

The Bank of Lithuania contends the U.S. fintech broke anti-money-laundering rules; while British contactless payments hit a record. That and more in the American Banker global payments roundup.

The sector includes construction companies and others that rely on materials from outside the U.S., which could challenge lending based on future payment flows.

The Swedish institution's New York listing, which was viewed as a sign of fintech's recovery, has been delayed due to market volatility.

Banks in the U.S. and India will offer cross-border transactions using the technology that underpins cryptocurrency. Our global payments roundup also includes updates from PayPal, Lloyds and a very remote ATM deployment.

The bank technology is launching its signature payment platform in a country where rivals like Square and PayPal are also actively chasing business payments.

Even though it's coming during a volatile period for the markets and economy, the cryptocurrency company's planned listing puts pressure on rivals and regulators.

The industry was already spending billions to automate before 2020. What it needed was a cultural shift to try new things.

Jack Dorsey's payments company cut 931 jobs. Also: Western Union looks to artificial intelligence; Marqeta adds an e-marketplace; Westpac takes on scams; and more news in the global payments and fintech roundup.