Payments

U.K. regulators approved the acquisition, which is part of Global Payments' plan to scale its point of sale restructuring.

Revolut receives a banking license, while SumUp introduces its payments hardware. That and more in the American Banker global payments and fintech roundup.

Some customers reportedly complained about getting locked out of their accounts after signing up for the bank's new Strata Elite credit card. "We feel like we have done the right thing for all of our good customers," Pam Habner, Citi's head of U.S. branded cards, said Tuesday.

Banks and credit unions are steering away from stablecoins chiefly due to lack of customer demand, per new American Banker research.

The two companies are collaborating on making the digital asset private for payroll and other business transactions. While it's unusual, as the most well-known stablecoins are on public ledgers, tech firms are warming to the idea.

The number of states with earned wage access legislation doubled in 2025 with six states passing new laws. Connecticut regulators have been particularly strict, creating conflict between lenders and the government.

The payments division of the country's largest bank posted $4.9 billion in revenue in the third quarter as transaction volumes in merchant services outpaced volume in 2024.

SEO Steve Squeri told analysts its platinum card upgrade has gotten off to a strong start, and added he's not noticing signs of consumer weakness due to recent political battles.

Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.