Payments

The banks that own the peer-to-peer payment network are reportedly considering a retail launch that could fend off rival payment methods — or simply cannibalize the sizable revenue issuers get from credit and debit cards.

The two San Francisco-based companies are seeking to provide a one-click cryptocurrency checkout system to simplify digital shopping.

To increase its share of global card spending through gig-economy fintechs and startups, Amex is extending its rewards through a partnership with digital issuing vendor i2c.

JPMorgan Chase is planning to use its recently acquired stake in the Greek payments firm Viva Wallet to support lending to small businesses across Europe, an ambition that would introduce a rare cohesion to the Continent’s fragmented banking markets.

In global news this week, HSBC goes deeper into the metaverse; Visa has a new innovation hub in Kenya; Google may run afoul of South Korean payments law; and more.

The newest version of the Mastercard gives users the most cash back for checking out with their PayPal accounts instead of for spending in specific categories.

Firms such as Visa, Mastercard, PNC and Fiserv say employers can address the labor crunch by making it easier for employees to access and move their money through services such as earned wage access, crypto bonuses and digitized expense management.

The company provides incentives through the online statements of many large card issuers — but it faces more competition than ever from fintechs and "super apps." To stay in the game, Cardlytics is scooping up more data to sharpen its pitches.

Visa is planning a raft of changes to rules for gas stations to allow larger transactions after a surge in fuel prices across the U.S. made it hard for some drivers to fill up using credit cards.

Citizens' overdraft break, Warren's digital-dollar push and more in banking news this week.