Merchant

In a post-Brexit move, Mastercard is raising interchange rates for card-not-present transactions on U.K.-issued cards when spent with European merchants.

Biometric authentication has always been a challenging subject with consumers, who are accustomed to using the technology to unlock their phones but are still wary about how much personal information they share with retailers and card issuers.

Spurred by the coronavirus pandemic, 88.6% of Barclaycard in-store transactions were made using contactless technology last year, up from 86.4% in 2019, an increase of about 2.5%.

Mergers and acquisitions were largely on ice in 2020, but banks' mounting need to control expenses and invest heavily in technology could spur a comeback this year.

Pandemic-induced shifts in how people work and bank will allow the Tennessee company to shed more branches and office space. It now projects it will slash expenses by an additional $30 million a year.

The Connecticut company said it will take several years to shut down the locations, which are located in Stop & Shop stores. About 80% of the branches are within five miles of traditional locations.

The fast-growing buy now/pay later industry is drawing scrutiny from legislators and regulators who fear it could become predatory.

The fast-growing buy now/pay later industry is drawing scrutiny from legislators and regulators who fear it could become predatory.

Hundreds of branches temporarily shuttered during the pandemic are now permanently closed.

The state's Department of Financial Protection and Innovation alleged potential violations of “unlawful, unfair, deceptive or abusive” practices by a dozen companies.