Fintech

After tests with several banks that established Swift's ability to connect its Global Payments Initiative faster payments rail to domestic networks, the financial and messaging standards organization is activating the service in the U.K.

Visa Inc. said growth in spending on its cards in the U.S. slowed last month as coronavirus cases surged across the country.

Salesforce.com Inc. agreed to buy Slack Technologies Inc. for $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals of the year.

The Federal Deposit Insurance Corp.’s latest report on the industry’s health had positive news about the earnings recovery last quarter, but it also showed that low interest rates amid continuing economic uncertainty are putting downward pressure on asset yields.

Japanese payment card network JCB has teamed with the State Bank of India to launch a cobranded debit card leveraging RuPay, the state’s domestic card scheme operated by National Payments Corporation of India.

Libra is distancing itself from Facebook not only through a name change, but also by attempting to draw attention toward its digital payment rail instead of the creation of alternative money.

CEO James Schenck says the institution's military focus means it must provide services for a group of consumers who move every few years. That has helped it focus more on mobile services and less on brick and mortar.

The California company agreed to acquire WestRiver Group in a move that will expand its debt fund business.

Digital workforce collaboration apps like Slack are hot acquisition targets, particularly for a company like Salesforce, which needs to compete with enterprise technology companies while making it easy for its clients to execute an "invisible payment" that's embedded in cross-selling and marketing.

As the pandemic continues to expose vulnerabilities, executives need to alter and reshape their risk management strategies with purchase to pay in mind for future success, says Proactis' Jan van der Pouw.