Payments

The international messaging system is participating in projects that test or develop central bank digital currencies, with a goal of making them interoperable.

The company's first-ever acquisition, of Power Finance, will allow it to fuel a banking-as-a-service model for credit cards and other financial products under the direction of its new CEO, Simon Khalaf.

Stripe, one of the world's most valuable startups, has hired JPMorgan Chase and Goldman Sachs Group as it explores options for raising liquidity.

The U.S. payment companies say their tie-in to the Chinese digital wallet is a doorway to one of the biggest e-commerce audiences on the planet.

CEO Steve Squeri says many of these companies still employ more people than before the pandemic.

While not committing to any specific strategy, the card network may find opportunity in the merger and acquisition market, CEO Al Kelly said.

The company formerly known as Alliance Data Systems produced strong fourth-quarter sales, but was unable to report a profit due to factors such larger loan-loss reserves for its acquisition of the American Automobile Association's credit card portfolio.

The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.

This week's global financial news roundup includes CBDC details from Europe, a new stablecoin in Australia and more.