Payments

Companies such as Visa and Mastercard, as well as banks and retailers, are stepping up their investments in artificial intelligence to reach small businesses and spot new uses.

The subpoena asks the company to produce documents tied to its work on the dollar-linked stablecoin PayPal USD. The company says in a regulatory filing that it's cooperating with the probe. 

Alex Chriss, the new chief executive, says the firm aims to reverse its stock slump by assessing its business to favor its best-performing products.

The card network sells aggregate information about customer spending habits, which data-privacy advocates say goes past Mastercard's role as a payment processor. Mastercard explained the recent removal of certain advertisements as a business decision.

The U.K.'s Financial Conduct Authority released data that shows buy now/pay later lending on the rise, Ripple is working with Uphold to improve crypto liquidity and more.

Venture capital was pouring into new generative artificial intelligence technology before President Biden issued an order that could cool the rate of funds flowing into the sector. Experts say that's not necessarily a bad thing for banks.

The tech billionaire wants the former Twitter's users to manage all of their finances on the site — the sooner, the better.

The Electronic Payments Coalition said that Sens. Dick Durbin and Roger Marshall are retaliating against the airline industry, which has been critical of their credit-card swipe-fee legislation. The two senators have called for an investigation of airlines in connection with purportedly unfair practices in their loyalty programs.

The product-comparison site, which rates and ranks credit cards, is debuting its own secured credit card that it believes will help users improve their credit scores and pursue better offers.

By purchasing the merchant acquirer Atlantic-Pacific Processing Systems, the fintech Stax has rounded out its offerings in a way that echoes the structure of larger payment companies.