Fintech

Retail and hospitality payments software provider Veea Inc. is partnering with cross-border mobile payments provider Citcon to allow businesses using Veea services in the U.S. to accept Alipay and WeChat Pay mobile payments.

Circle Internet Financial says it is now worth $3 billion following latest funding round; proposed changes would give banks more leeway to make some trades.

Despite Canada's high penetration of contactless POS terminals and consumer affinity for the technology, the country has lagged behind nations such as the U.K. and Singapore in contactless payments. That is set to change as Canada's transit schemes launch contactless open-payment systems.

In the battle that’s raged over the last two years to win top-of-wallet status among luxury card users, the only clear winners may be savvy consumers who’ve learned how to game the system.

The $18 million-asset credit union has lost money each year since at least 2015. Service 1st, meanwhile, made more than $3.1 million last year.

U.S. credit card issuers are already caught in the middle of intense debates over guns, marijuana and cryptocurrencies. Gambling on sports is next.

Buyers who rely on paper-based payments often struggle to onboard new suppliers. This "process overhead" can be so cumbersome that many buyers become resistant to change, opting instead to limit their supplier choices to a small number of partners, writes Patrick Bermingham, the CEO of Adlex.

Regalii has changed its name to arcus and switched from cross-border bill payment to helping banks use tokenization to reissue lost, stolen or breached cards.

Bank of Hawaii will serve Japanese citizens looking to conduct business in the United States.

The former Citigroup CEO is investing $100 million in Fair Square Financial, a midmarket card issuer; the exit leaves one executive atop the bank’s securities division.