Kate Fitzgerald

United Arab Emirates plans to launch a central bank digital currency this year; Adyen adds travel payment cards; and more.

Travel disruptions make it crucial for hospitality providers to handle bookings, cancellations and postponements — and the underlying payments and refunds — with ease. Software vendors are tailoring their products to address the needs of this and other niches.

The payments company said the Consumer Financial Protection Bureau has closed a probe it began in 2020 after a consumer advocacy group accused PayPal of offering students at for-profit universities high-cost financing for unaccredited courses.

Sluggish single-digit e-commerce growth drove PayPal to postpone its forecast for the coming year, as CEO Dan Schulman, who plans to retire this year, itemized further cost cuts.

Schulman, president and CEO of PayPal since 2014, will leave at the end of 2023. He will continue to serve on the company's board and will join in its search for a successor, the company said.

Amex and Microsoft are developing a business-travel expense approach that gives users a green, yellow or red code indicating whether an expense is approved, under consideration or rejected.

Bank of England releases digital pound details, CBA adds anti-scam tech, and more. Here's what's happening around the world.

The loyalty tech provider aims to bypass credit card networks with an account-to-account payment option leveraging faster payment rails. Observers say it faces long odds for mass adoption.

EWA provider ZayZoon is seeing steady growth with an option that offers extra funds when users choose to receive their payouts on a retailer gift card

Twitter signals plan for payments, Barclays opens banking pods as a branch alternative, and more. Here's what's happening around the world.

Economic woes have driven more consumers to disavow legitimate card purchases via "friendly" fraud, but new card-network guidelines could help merchants fight back — and leave more issuers on the hook.

Citing challenging economic conditions, PayPal on Tuesday said it's cutting 7% of its global workforce with reductions in upcoming weeks.

The company formerly known as Alliance Data Systems produced strong fourth-quarter sales, but was unable to report a profit due to factors such larger loan-loss reserves for its acquisition of the American Automobile Association's credit card portfolio.

The Canadian fintech is collaborating with PayPal to power the firm's technology that merchants can place anywhere — from blogs to product packaging — to enable purchases.

Early Warning Services, owner of the Zelle peer-to-peer payment app, has tapped former Mastercard executive James Anderson as managing director of the online digital wallet the bank-owned consortium is developing.

Most U.S. consumers have used a peer-to-peer payments app like Zelle, Cash App, Venmo or Apple Cash, while 12% of frequent users admit they sent funds to the wrong party and 9% said they've been victimized by a scam, according to a Consumer Reports study of top P2P apps.

Early Warning Services plans to create a retail payment option for its peer-to-peer system. Experts say it's a long shot, but it could displace Apple, PayPal and others if successful.

A new paper from the Federal Reserve Bank of Boston finds Blacks and low-income consumers absorb a larger share of bank account and credit card fees than other groups.

Discover Financial Services posted a healthy fourth-quarter increase in card spending and lending, but analysts raised concerns about a sharp rise in credit account charge-offs that's likely to continue into 2024.

The digital card platform operator Marqeta is working with buy now/pay later provider Bread Financial on a pilot to instantly connect consumers' mobile wallets with merchants via the web, bypassing the need to download an app.