Payments

The recovery for airline and related spending has been robust — and thus far immune to geopolitical and inflationary pressures — according to the card network, following similar reports from Visa and American Express.

Fewer new customers signed up during the first quarter as e-commerce sales momentum slowed and inflation rose, forcing the company to reduce its overall growth expectations for the year.

Analysts were expecting Capital One’s marketing spending to slow significantly after it surged to nearly $1 billion at the end of the year.

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.