Payments

Vodafone Group hinted it could spin off its African mobile money service M-Pesa after its popularity soared through the coronavirus pandemic.

MoneyGram International, one of the largest money-transfer services in the U.S., has received preliminary takeover interest from Stellar Development Foundation and the private equity firm Advent International, according to people familiar with the matter.

Blending its existing technology with new authentication measures, the company aims to cut costs for credit unions that don't want to join the bank-run peer-to-peer network.

The Consumer Financial Protection Bureau's recent advisory on the products was mild, but some analysts say it's only a matter of time before the agency develops more prescriptive rules and targets providers for enforcement.

The fintech's new checking, savings and lending package caters to clients who want to separate their corporate accounts from personal banking.

Citigroup stopped taking applications for its $495-a-year Prestige card, a competitor to American Express’s Platinum line and JPMorgan Chase’s Sapphire Reserve.

As payments steadily migrate to cloud-based, digital channels with the rise of mobile e-commerce, Intuit’s QuickBooks unit is augmenting its online payment acceptance options with a mobile payment device that links to its accounting software.

Fintech companies with narrow-purpose banking charters pose a safety-and-soundness risk and should be denied access to the payment system and other perks unless they meet the same strict regulatory criteria as traditional financial institutions, trade groups for banks and credit unions told the Federal Reserve.

The card issuer, which is offering its customers a chance to purchase non-fungible tokens created from a recent performance by the singer SZA, is betting that the digital art-trading phenomenon will become more mainstream.