Kate Fitzgerald

The pandemic-era's surge of short-term, interest-free online loans from buy now/pay later fintechs ignited wide-ranging competition from newcomers and legacy providers alike.

The Federal Trade Commission, in a consent agreement, instructed Mastercard to allow other debit networks to decipher 'tokenized' card account data used for online payments.

Early Warning Services' bank-owned peer-to-peer payment service reached eye-popping growth milestones in 2022. But scams targeting Zelle users also soared, drawing lawmaker scrutiny and forcing Zelle to consider reimbursing victims.

Institutions that are already on the fence about joining the peer-to-peer network are expected to balk at the expense of standardized scam reimbursement, industry experts say. Small banks aren't openly opposing the concept yet, but many say they're still cautious about P2P.

Virtual gift cards have lagged plastic in popularity, but consumers could give them a second look in light of a surge in theft of paper checks and gift cards sent through the Postal Service.

After years of fintechs taking the lead in modernizing cross-border payments, fresh momentum is coming from traditional payments and banking infrastructure players, including the card networks and the 50-year-old SWIFT.

Rising interest rates and tightening consumer credit are likely to drive many consumers to use interest-free point-of-sale loans, putting BNPL fintechs' data-driven underwriting to the test.

Longtime Visa president Ryan McInerney will become CEO in February 2023 when Al Kelly steps down from the post he's held since 2016. Kelly will become executive chairman of the board following the transition.

Visa is working with online travel agencies to promote the use of virtual cards and tokens to streamline payments, refunds and add-ons.

Square will launch an Amex-branded credit card next year through its app, targeting its U.S.-based sellers using the card network's fintech-centric approach.