Payments

HSBC has extended its instant cross-border payments network to small and midsize businesses through a digital wallet built for storing and spending foreign currency.

The Amsterdam bank offers to directly credit a small business's invoices early after a vetting process — but before the invoice is paid.

The company, which operates private-label and cobranded credit card and loyalty programs, plans to spin off its loyalty operations this year to improve ADS' financial performance.

Digital payments can cut costs, errors and other tasks that would be prohibitive on their own, says Kofax's Lindsay Pinkos.

A Federal Reserve proposal that would require banks to give merchants more choices in routing certain debit transactions could be a prelude to a more consequential change: a lower cap on interchange fees for banks with more than $10 billion of assets.

Google is enabling cross-border payments within the Google Pay app through integrations with Western Union and U.K.-based remittance firm Wise.

The country’s largest banks are pulling out all the stops to lure customers to take on new credit cards again, after retreating from such deals during the COVID-19 pandemic.

American Express is trying to differentiate itself from other card networks by making loans through its bank and incorporating accounts payable services and lending technology it inherited with its acquisitions of Acompay and Kabbage.

American Express is trying to differentiate itself from other card networks by making loans through its bank and incorporating accounts payable services and lending technology it inherited with its acquisitions of Acompay and Kabbage.

Now that Western Union has begun its deployment at the big-box retailer, where MoneyGram has long had a presence, the incumbent is watching for signs of pricing pressure.