Bangkok Bank plans to issue a “platinum” credit card that carries the China UnionPay brand starting in February, a bank spokesperson tells CardLine Global. The bank says this card will be the first high-end credit card in Thailand to carry the UnionPay logo, but CardLine Global was unable to confirm the claim. The card launch coincides with the bank’s “recent receipt of a license from the Chinese government to operate Bangkok Bank China, a locally incorporated bank in China, which will open” in late December, the spokesperson adds. The cards in Thailand will have contact chips, the spokesperson says.
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Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh's leadership at the central bank.
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The Beaver State measure gives de novo banks up to $1 million per year in tax credits. Oregon lawmakers modeled their legislation on a 5-year-old Ohio law.
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The Spanish banking giant is seeing improvement in its U.S. business, which is set to expand significantly if its pending acquisition of Webster Financial gets approved.
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Expenses and foreign exchange pressured Western Union; while Visa added more blockchains to its stablecoin settlement pilot. That and more in American Banker's global payments and fintech roundup.
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Tipalti has developed a set of agentic artificial intelligence agents designed to help businesses navigate transactions and apply for refunds.
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The digital bank and lender did not increase its full-year outlook in anticipation of an interest rate freeze.
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