Payments

In global news this week, scammers target Revolut's program for Ukrainian refugees; Commerzbank applies for a crypto license in Germany; Nium merging with Socash; MyPinPad merging with SmartPesa; and more.

The country was a large part of the card brand's cross-border digital business, though expansion in other markets and new services will help offset the negative impact, according to CEO Alfred Kelly.

The financial services technology company is backing the first retail sportsbook connected to an MLB stadium, adding to its support for automated ticketing, concessions, staff compensation and loyalty. It's a broader combination the technology company hopes to replicate elsewhere.

The card network will use artificial intelligence to improve authentication via its latest team-up with the tech giant.

While most consumer sectors have been going digital, many physicians' offices, hospitals and clinics cling to a reimbursement system that relies heavily in printed statements, checks and manual processing.

The move gives the technology company a larger merchant network as it prepares to turn iPhones into payment acceptance devices.

Powered by a surge of bookings in March, travel and entertainment card spending at American Express rose 121% in the first quarter. The company also added 3 million accounts.

Financial institutions are confronting major compliance challenges given the demands of Russian sanctions as well as the explosion of online gaming transactions and marijuana sales.

A day after Bank of Russia Gov. Elvira Nabiullina touted the country’s alternative to the SWIFT financial-messaging service, the regulator said it will no longer publicly disclose who participates.

The companies, which partnered to create a new digital shopping experience, say it made sense to focus on mom and pop stores that had to pivot to e-commerce during the pandemic. These businesses will be the first to get collaborative cloud-based tools including maps, marketing and payments.