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.

SolarisBank and Visa have provided the technology to enable Vivid Money to launch its mobile banking app in Germany with virtual cards and cash-back rewards.

Landesbank Berlin, a major issuer of co-branded cards in Germany, has launched a contactless card with German Automobile Club ADAC as its first project with European payments services provider SIA.

Many of the payment innovations of the past decade got an early start in Canada, building a base of users and habits the nation hopes will make the pivot to post-coronavirus commerce easier than other markets.

Brian Brooks says coronavirus mandates, such as masks, could potentially harm banks; some recipients of the Treasury prepaid cards don’t believe they are for real.

The bill, which now goes to the Senate, would give small businesses greater flexibility in how they use the funds; not everyone's on board with Otting's signature achievement.

Sony has invested in digital transaction security firm MagicCube, citing it as the Sony Innovation Fund's first investment outside of Japan.

The online retailer is reportedly set to push its biggest shopping event of the year from July to as late as September. The move could impact credit unions' card volumes.

The reloadable debit card resembles a bank account with new high-yield savings account and other tweaks.

Many companies are postponing product rollouts until the economy improves, but the Samsung Money debit card could be better suited for spending habits during the coronavirus pandemic.

Credit card and debit card spending have improved for several weeks in a row, according to a report from PSCU.