John Adams

Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.

The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.

The London-based fintech has launched a suite of financial services as its global expansion gains steam. That and more in the American Banker global payments and fintech roundup.

The e-commerce giant, which is in the midst of a corporate downsizing, is discontinuing its Go and Fresh stores and One palm checkout while it repurposes the underlying technology.

The card network's Start Path engagement program is scouring the technology world for entrepreneurs working on the new form of artificial intelligence.

The bank technology seller closed the sale of its payment processor to Global Payments, which sold its card issuing unit to FIS. Helping banks get a handle on artificial intelligence is a big part of FIS' plan to reach banks.

The acquisition will improve how clients can use agentic artificial intelligence to attract and reel in consumers.

The bank technology seller's deal with Sumitomo Mitsui Card Company is an opportunity to cash in on a government initiative to reduce cash — and comes on the heels of an earnings miss. Plus, Klarna plans to offer more credit options through a partnership with Walmart-backed OnePay, Revolut embraces agentic AI protocols and more in American Banker's global payments and fintech roundup.

The payment company is betting on agentic commerce to get its checkout tech in front of more merchants and consumers.

Cryptocurrency has traditionally been an investment product more than a way to make purchases, but fintechs are betting there's a future for digital assets at the point of sale.

Merchant groups are not taking a position on President Donald Trump's threats to cap interest rates, but they are bullish on the president's endorsement of the Credit Card Competition Act.

Bilt's new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.

The Swedish financial institution adds P2P payments as it tries to bolster its neobank aspirations. Payment firms don't like the U.K.'s potential restrictions on stablecoins and more in the American Banker global payments and fintech roundup.

The $24.3 billion acquisition and $13.5 billion divestiture deal enables Global Payments to focus more on its core payments technology.

Analysts say credit card companies could face a major hit to earnings, while banks would also be under pressure.

The American Bankers Association and other groups contend the president's plan to cap credit card interest rates at 10% would drive consumers toward less regulated, more costly alternatives.

New research from American Banker details how the 50 largest U.S. banks by U.S. assets are using stablecoins, cryptocurrencies and other distributed ledger technology.

The U.K. bank has completed a payment using the stablecoin alternative; while Revolut is trying to acquire Turkish neobank FUBS. Plus: execs tied to the Wirecard scandal are on their way to prison and more in the American Banker global payments and fintech roundup.

With fintechs and legal cases pressuring payment fees, the card companies are leaning more on revenue from other sources.

The bank's Kinexys blockchain unit processes a fraction of the institution's overall payment volume. It's betting that an appetite for the technology's promise of speedy processing and liquidity will make that larger.