Cards

More than a dozen large European banks plan to launch a payment system that would rival U.S. payment companies and technology firms, an idea that hasn’t worked in the past but may have a better chance given the current global health, economic and political crises.

When PayActiv ended its coronavirus-related fee holiday this month, it didn't just go back to the way things were before; it adopted a modified business model that could bring it new markets and partnerships.

Wirecard North America is seeking a buyer, an otherwise routine corporate move that requires a large number of assurances, given its parent company's descent into scandal.

Visa Inc. and Mastercard Inc. are considering revoking Wirecard AG’s ability to process payments on their networks in a move that would cause further pain for the firm after it started insolvency proceedings.

Wirecard AG filed for insolvency, the culmination of a stunning accounting scandal that led to the arrest of its CEO and left the German payment-processing firm unable to find over $2 billion missing from its balance sheet.

Wirecard AG won a short reprieve from the lenders on its $2 billion revolving credit facility after banks decided to assess the embattled company’s long-term viability before telling it to repay the loan.

The spending and account management capabilities of corporate prepaid cards have been given new purpose in a pandemic-struck world dependent on government and charity aid.

Consumer spending has improved as state lockdown orders are lifted but many continue to hold off on taking trips and entertainment activities.

The Biblical narrative of the Tower of Babel was meant to explain why people throughout the world speak different languages, but in the modern-day payments version it apparently applies to the complex and problem-ridden transaction chargeback process.

The coronavirus has spawned a fear over handling cash, creating a problem for the common practice at restaurants of using a card to pay while leaving cash for the tip. Given the challenges and restrictions tied to reopening, it's a conundrum eateries can ill afford.