Payments

In another sign that the pandemic-fueled migration to digital transactions is here to stay, Capital One is dropping a mobile-payment incentive for REI credit card customers as it takes over issuance of the Mastercard from U.S. Bank.

"Super apps," embedded commerce and buy now/pay later loans are hoovering up consumer data with little clarity over the consequences for users, according to a new Consumer Financial Protection Bureau report.

In global news this week, cash is on the rebound in the U.K., a Swiss nonprofit calls for digital business IDs, CIBC adds support for open banking, and more.

Business-to-business payments have long been stuck in the past, with a heavy emphasis on paper checks. The need for modernization has attracted a flurry of technology developers.

The Chicago-based company, which is the league's exclusive credit card sponsor, sees soccer's young, diverse fan base as a fit for its below-prime products.

Data as of Mar. 31, 2022. Dollars in thousands.

The prepaid card issuer's senior vice president of partner services and delivery, one of this year's Most Influential Women in Payments Next honorees, has had to address the impact of multiple global crises on the underbanked.

In markets such as India, China, the United Arab Emirates and Brazil, more consumers and merchants are testing or deploying facial recognition as a way to authenticate transactions.

An outage with the issuer's bill payment site unleashed a torrent of complaints on social media and to the Consumer Financial Protection Bureau — even after the company said it had resolved the issue.

Legal marijuana dispensaries typically can't accept regular payment cards. But after the pandemic drove broader adoption of online and in-app payments, consumers may finally be more willing to stop using cash when buying weed.