Payments

The bank is the first to offer a service from The Clearing House’s Real Time Payments network that lets businesses send bills to retail clients, who are given the option to pay them immediately.

The partnership enables issuers to offer credit and debit cards to spend crypto balances.

The New Payments Architecture was delayed for years due to COVID and other factors. It will move ahead focused only on push payments instead of replacing two national rails.

PayPal said it isn’t pursuing an acquisition of Pinterest, ending days of speculation over a potential $45 billion deal.

Steve Squeri said installment lenders primarily cater to debit card users and that even American Express's own BNPL product does not compete with the company's credit and charge cards.

Until we have true interoperability across payments platforms, competition will be stunted. Cryptocurrencies offer a model solution to breaking the hold banks and card networks have on consumer choice.

Roger Hochschild predicts consumers will keep using their Discover cards in the months ahead, particularly when shopping online.

After Visa's deal to acquire Plaid fell through as a result of regulatory pressure, the data aggregator found new fintech partners including Square and Dwolla to support an account-to-account transfer service.

The Consumer Financial Protection Bureau says Amazon, Apple, Facebook, Google, PayPal and Square must provide details on their use of personal payments data to ensure consumers' privacy is protected and that the data isn't shared without consent.

The bank is predicting a $450 billion “value pool” of data from vehicles by the end of the decade, with the information gleaned encompassing everything from driving patterns to coffee purchases.