Payments

The change would lower the maximum fee on a $50 debit transaction from 24.5 cents to 17.7 cents. The central bank points to lower processing costs for card issuers in recent years.

Commonwealth Bank of Australia is examining how it can use generative artificial intelligence to simulate customers testing products, and U.S. Bancorp's Elavon unit receives a financial services license from the Bank of England.

Giving merchants the option of passing on the rewards-related element of credit card swipe fees to consumers would radically rewrite the rules of payments competition.

A Federal Reserve rule that kicked in during July altering how debit cards are routed online hasn't yet hurt Visa's U.S. transaction volume, which surged across consumer, commercial and cross-border channels during the quarter that ended Sept. 30.

The credit-card issuer is tightening its lending standards and bracing for the potential effects of a cap on card late fees. Charge-offs are rising, but company executives say that customers are showing surprising strength.

The bipartisan proposal aims to save consumers money by forcing more competition in the lucrative credit card payments processing business. If enacted, it would result in "unbelievable" consumer backlash from its effect on rewards programs, Delta Chief Executive Officer Ed Bastian said.

The card network integrated its data-sharing technology into products from Zip, FIS and JPMorgan Chase as potential regulations loom on the horizon.

Three months after the instant payment network went live, users and former Fed staffers say the rollout is going as expected. But the key to wider use depends on banks and their customers figuring out what to do with it.

Brazil's PIX network has sparked a venture-capital boom in an otherwise down economy, including interest from U.S. investors.

Months after acquiring credit card program management startup Power, Marqeta has introduced a service to embed credit offers within brand marketers' websites and applications.

Retailers fed up with interchange are trying numerous strategies to offset these costs, including piloting Pay by Bank use cases and even, in some cases, refusing to accept cards altogether.

Steve Squeri says the outcry over the airline's changes to its loyalty program has not hurt spending on co-branded Amex cards.

An advocate for retail merchants takes issue with a BankThink article criticizing the Credit Card Competition Act.

Consumers with Discover cards spent less on travel and everyday purchases, but more on entertainment, driving loan growth in the third quarter. The company also benefited from the Fed's enforcement of online debit-routing rules, but these boons couldn't offset investor concerns over its issues with the FDIC and its CEO search.

Delta is trimming the increase in requirements for various status levels and adding access to its airport lounges. But the shift to using cash spent, not miles flown, in calculating rewards remains in place.

Ripple, Coinbase and Circle all received licenses to operate under the nation's stablecoin regulations, which offer more clarity than American rules do.

Visa said Chairman Al Kelly, the payments giant's former chief executive officer, will leave the board in January.

NCR has completed the spinoff of its ATM business, Revolut doubles its number of fraud-fighters in two years, China builds a zone for digital yuan users, and more.

The Indian government's efforts to create digital public access for women can be a model for other countries.

Because instant settlement is irreversible, companies like Orum expect to see demand for systems that can vet recipients within seconds.