Payments

The midsize companies that the Kansas City, Missouri, bank caters to may not be salivating to settle transactions in real time, so UMB says it's being cautious about when and how it implements new technology.

In global news this week, Walmart and Payoneer team up for U.K. e-commerce, metaverse banking advances in Italy, Stripe expands its global bank transfer footprint, and more.

Bank of America is rolling out a host of travel sweeteners to ultra-high-net-worth customers. It’s partnered with the luxury-travel firm Indagare to offer the experiences to members with more than $10 million in their accounts.

Inter is listing on Nasdaq and plans to offer banking and payment products tailored for immigrants in the States.

Companies like Euronet are focused on the international use cases for real-time payments that often get overlooked by domestic transaction rails.

The U.K.’s Payment Systems Regulator will focus a pair of market reviews on the rising card fees charged by Visa and Mastercard. 

The rising use of peer-to-peer transfers continues to attract scammers due to the transactions' speed and finality. If the banking industry can't solve the problem, regulators or judges are likely to step in.

The Federal Reserve Bank of Kansas City's Esther George is refusing to provide the Republican senator answers about certain internal deliberations at the regional Fed bank over the revocation of the master account granted to Reserve Trust. The fight could set up a bigger showdown over how the central bank grants such accounts.

Mastercard can add new customers after the Reserve Bank of India removed restrictions on the firm, effective immediately, citing compliance with data-storage rules.

It took less than a day for Citigroup’s now-infamous payment error to Revlon lenders to come up in the cosmetics giant’s bankruptcy.