The payment option has grown beyond underbanked consumers. For issuers, a $1 trillion market is at stake.

Afterpay co-founder Nick Molnar will lead a centralized sales structure, part of a larger organizational change as the firm battles firms like PayPal and Stripe to reach merchants.

The London challenger bank has added deposits in an effort to keep customers from using banks and other fintechs; the Australian bank Westpac is offering cards to kids as young as 8; and more in our global payments and fintech roundup.

CEO Alex Chriss contends the payments company can get a boost from greater access to mobile payment technology while competing against the technology giant on other fronts.

New funding would increase valuations for both firms, reversing a slump that has impacted the entire industry for the past two years.

The big box retailer's move comes amid a broader decline for the traditional payment option.

Nine international fintech companies are participating in the credit card network's accelerator program.

The bank plans to turn away transactions for apps like Afterpay, Affirm, Klarna and others. Its move comes as these third parties face increasing scrutiny from regulators and industrywide concerns over risk.

CTrust is providing scores specific to the legal weed business, an industry that poses a lot of challenges and opportunities for banks and other lenders.

The Chinese technology giant is partnering with BNP Paribas to reach more merchants; Sequoia makes an investment offer that could boost confidence in Stripe; and more.