Visa

A $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation.

Rather than compete against the rising tide of account-to-account transactions, the two card networks are looking for ways to make themselves essential to this growing market.

The card network is working with Salesforce to use large language models to be more proactive in how it resolves these interactions.

Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.

Visa is working with Thunes; LemFi and Western Union to expand its reach; Swift has completed testing of 38 global digital currencies, and more.

Criminals who buy and sell consumer data on the dark web are perpetrating increasingly complex credit and debit card fraud schemes, according to the card network's latest threats report.

Monzo raises a $430 million investment to accelerate its expansion in the U.S.; Stripe adds support for Tap to Pay on iPhone; and more in this week's global payments news roundup.

Brazil's Pix network, at just three years old, now accounts for 15% of all global real-time payments — and its success is inspiring projects in other countries.

Mastercard, Visa and American Express are reportedly preparing to add merchant codes to identify firearm purchases, forcing the networks to straddle a hot-button issue in an election year.

The card network said that recent weeks' cold snap in key cities had a chilling effect on U.S. spending, and reaffirmed its sunny outlook for the year.