Financial institutions and their trade groups fear a loss of funding for loans if customers migrate in large numbers to a central bank digital currency, according to comments to the Federal Reserve about a possible digital dollar. Industry officials are also worried about heightened cybersecurity and money laundering risks.

The service offered by the Federal Reserve — after years of delays — is expected to expand access to fast payments clearing to a broader selection of banks and financial institutions.

The company is building on other 2022 launches including stock trading and faster remittances from the U.S. to Mexico in its campaign to offer an all-encompassing financial app.

Revolut Ltd. is launching a one-click payment feature in a bid to rival PayPal Inc. and other tech giants at online checkouts.

The Consumer Financial Protection Bureau is expected to issue guidance soon around fraud liability on digital payment platforms, and the thorniest question concerns who pays for customers' mistakes.  

Affinity Credit Union in Iowa is taking the tech giant to court over the levies issuers pay to have their cards work in its mobile wallet.

To keep customer relationships "sticky," Langley Federal Credit Union will roll out a bill pay feature this summer that tries to mimic the advantages customers get by going directly to the biller site.

The tech giant abandoned the Google Wallet brand years ago as it refined its mobile payment strategy. The 11-year-old brand now returns as a means to store vaccine cards, event tickets and more.

Card issuers have pushed for more direct access to iPhones for years, and with the tech giant's policies facing fresh political and legal heat, Wells Fargo exec Ukrike Guigui says a more open mobile payment market would benefit merchants and consumers.