Fintech

The bank has agreed to act as a payment agent for the card brand's Track BPS to sign up participating businesses in the U.K. and Europe.

For years mobile wallets have been a solution in search of a problem — until now.

CEO Stephen Squeri told analysts a fresh crop of rivals, possibly including Wells Fargo, will be quick to fill the void created by Citi's departure from the high-end market.

The London interbank offered rate will phase out in a matter of months, and lawmakers have to step in to prevent a legal fiasco. They need to make Secured Overnight Financing Rate the sole fallback benchmark.

Vodafone Group hinted it could spin off its African mobile money service M-Pesa after its popularity soared through the coronavirus pandemic.

The goal is to add customers and prop up borrowing until business travel rebounds and consumers burn through their excess cash, CEO Roger Hochschild says.

MoneyGram International, one of the largest money-transfer services in the U.S., has received preliminary takeover interest from Stellar Development Foundation and the private equity firm Advent International, according to people familiar with the matter.

The London interbank offered rate was a flawed benchmark, but it was nonetheless a centerpiece of finance for decades. Congress should ensure it doesn't replace one interest rate monoculture with another as Libor winds down.

The card brand's spots will focus less on credit cards and more on real-time payroll, cryptocurrency and mobile commerce.

Blending its existing technology with new authentication measures, the company aims to cut costs for credit unions that don't want to join the bank-run peer-to-peer network.