Digital payments

Card issuers have pushed for more direct access to iPhones for years, and with the tech giant's policies facing fresh political and legal heat, Wells Fargo exec Ukrike Guigui says a more open mobile payment market would benefit merchants and consumers.

A few months after cutting ties with its Diem stablecoin project, the company formerly known as Facebook is testing a virtual world marketplace.

These tech titans still depend on banks to back their payment cards and loans. But their vast audiences mean any financial product they offer is a competitive threat.

Tap to Pay on iPhone turns any of the tech giant's recent smartphones into a card reader, but since Apple doesn't provide its own merchant services, it stops short of becoming a direct threat to acquirers and payment facilitators.

The upgrades merchants made to accept chip cards and mobile wallets have made it easier to add new services via software updates. NCR and other point-of-sale vendors are using these systems to support digital currencies without requiring new hardware.

Few banks have adopted an instant invoicing technology called Request for Pay, but more may get on board to help their customers avoid overdraft charges.

The automaker plans to overhaul its online car-shopping portal, while also developing an in-car system for purchasing fuel, parking and other goods and services.