Payments

Tidal, the music streaming service once owned by recording artist Jay-Z, laid off more than 10% of staff as part of a wider round of austerity moves announced last month by its parent company, tech billionaire Jack Dorsey's Block.

Canada's government has finalized arrangements with Visa and Mastercard to cap credit card interchange for small businesses; Klarna is expanding its work with the Dutch payment processor Adyen; and more.

MoneyLion and Pagaya, which were among the many payment companies that fought headwinds in the past two years, are using product and capital markets strategies to help them recover.

The credit card company is creating avenues for their staff, veterans and talent outside their organization looking to upskill.

FedNow will transform payments in the U.S., but its adoption might speed up if the Fed adopts some of the strategies Brazil used to roll out its Pix platform.

Commonwealth Bank of Australia has developed an advanced artificial intelligence tool that can spot harassment in transaction messages.

Early Warning Services, which operates the peer-to-peer network, is among the latest to take a creative approach to educating consumers about the relentless onslaught of fraud schemes.

In reality, central bank digital currencies would provide only some of the benefits of a real cryptocurrency and would have numerous drawbacks.

Wells Fargo is expanding into New York City's Hudson Yards, Mastercard launches a new generative AI-powered shopping tool, Banc of California closes PacWest acquisition and more in the weekly banking news roundup.

Zelle owner Early Warning Services has completed a test of its digital wallet, which it sees as a tool to streamline payments and combat the rising tide of fraud schemes, including those driven by generative AI.