Fintech

The pending law, which has passed the Assembly and Senate, prohibits food and retail stores from refusing to accept cash payments. Cashless establishments have been prohibited in New York City since 2020.

Pro-crypto regulations could draw U.S. banks into the market, providing fresh competition. CEO Paolo Ardoino spoke with American Banker about the digital asset firm's strategy.

Synchrony issued the Walmart credit card for nearly two decades until 2018, when it lost the partnership to Capital One Financial. The latest deal does not include the balances tied to Walmart's existing credit card program.

The payments company hopes to build its brand outside of its U.K. home base while attracting a deeper investor pool.

Oxford Bank appears poised to reap benefits from a substantial investment in building out its commercial finance subsidiary. The business, which provides credit to companies that aren't a good fit for bank loans, has moved into the banking mainstream over the last 15 years.

The Swedish buy now/pay later provider and the San Jose, California-based payments system separately launched payment cards in an effort to bring their digital finance offerings to brick-and-mortar stores and compete with established credit card issuers.

The payments fintech is partnering with credit unions such as Michigan State Federal Credit Union to offer cash-back rewards on debit transactions using account-to-account payment schemes.

A focus on client relationships, rather than products, and investments in AI are helping the company in an increasingly competitive market.

When a card gets canceled or expires, Visa, Mastercard and other networks send replacement information to merchants. This can be a problem for consumers.

BMO Financial Group has sold a U.S. credit card portfolio and exited a franchise loan portfolio as part of an effort to achieve a return on equity of at least 12% in its U.S. business.