Mastercard

As the toll of financial crime rises, the card network is attempting to boost its fraud-fighting game by buying threat intelligence firm Recorded Future.

The card brands and tech giants are expanding their payments reach in one of the world's largest markets, while facing a multi-billion-dollar class action complaint by British businesses over fees. That and more in American Banker's weekly global roundup.

The job reductions come as the card network focuses on emerging markets, artificial intelligence and other nascent technology over transaction volume.

The card brand adds to partnerships that enable data sharing and cross-selling; the U.K. bank is lowering fees based on clients meeting metrics for sustainability; and more.

International health care is a fast-growing multibillion-dollar industry combining two of the most complex transactions to process: travel and medicine. The card network says its technology builds a foundation to tackle the problem.

CEO Michael Miebach told analysts that a court's dismissal of an earlier agreement on interchange charges is disappointing, and he hopes to avoid a trial.

As a senator, the likely Democratic nominee for President championed an agency that did early work on payment technology, setting the stage for a central bank digital currency.

The payments company is pulling Cash out of the U.K. as it tries to expand the peer-to-peer app in the U.S.; firms in Hong Kong and Australia try to make stablecoin transactions global; and more.

A federal judge recently rejected an agreement on transaction fees, ensuring that a multi-year battle between the credit card companies and merchants will continue. Ryan McInerney vented during Tuesday's earnings call.

Nine international fintech companies are participating in the credit card network's accelerator program.