Payments

JPMorgan Chase is buying a majority stake in Volkswagen AG’s payments platform, extending its services further into the auto industry.

PayPal Holdings said it will acquire the Japanese upstart Paidy for 300 billion yen ($2.7 billion) as it seeks to deepen a push into buy now/pay later products.

Aiia brings thousands of banks to the card network's global open-banking platform.

The creators hope CU Offers, which lists discounts at local and national businesses, will attract new members and strengthen ties with existing ones. But observers are skeptical that it will drive real growth or inspire frequent use.

The bill-payments company Doxo is bringing more than 100,000 utilities and other billers to the technology firm InComm's retail network to make it easier for consumers to pay bills in person.

The payments firm Boku is uniting hundreds of fragmented mobile apps to compete with Visa and Mastercard for unbanked consumers in different regions of the world.

The bank, which helped launch the real-time network for peer-to-peer payments, is trying to duplicate that success by helping corporate clients process certain transactions instantly with wholesale partners and, in some cases, retail customers.

The central bank wants financial institutions to enable additional routing options for online purchases, a change industry advocates say would strain the resources of smaller card issuers.

Paul Camp will join the company in November to run its new Global Treasury Management division. Wells Fargo says the goal in combining its treasury management and global payments units is to improve service for clients doing business in multiple countries.

Walmart is looking to hire a cryptocurrency expert to develop a blockchain strategy, joining a growing number of major corporations exploring the viability of digital currencies such as bitcoin.