Payments

JPMorgan Chase is cutting the annual fee of its top-tier card while American Express is raising the fee of its own premium card. Both banks hope to win consumers' travel dollars by finding the sweet spot between cost and rewards.

Walmart has hired a veteran of American Express to run Walmart+, the membership program it unveiled less than a year ago to counter Amazon.com’s Prime plan.

The hospitality chain and its fintech partner Bakkt are trying to tap into the crypto craze by asking guests if they would prefer the valuable (yet volatile) cryptocurrency over free stays or room upgrades.

Building on renewed consumer interest in digital payments, companies such as linked2pay and Pax are making it easier for retailers to add options like ACH and to import shopper data into back-office systems.

The fee for the Platinum account increased 25% to $695, making it the most expensive luxury travel card.

Banks and creditors have spent years trying to remove obstacles to presentment and payment, but some consumers say they would still rather step on a Lego brick than pay a bill, according to PayNearMe research.

The bank is working with DailyPay and The Clearing House's RTP network to bring a smidge more speed — and certainty — to earned-wage access payments.

Six major international banks have committed to preparations for and testing of Swift's new transaction management platform, a process designed to enable new services, improve efficiency and reduce costs for international payments.

Roxe says the distributed ledger technology that removes costly middlemen from international transactions can also lower expenses for currency conversions.

Gripes against peer-to-peer payments services spiked during the past year as U.S. consumers flocked to Venmo, Cash App, Zelle and the like to transfer money.