Payments

This week in global news, Mizuho opens generative AI to staff, BBVA organizes to fight fraud and more.

The Federal Reserve's instant-payments rail may cut into card issuers' credit and debit card volume over time, but it could also help smaller institutions expand their services.

Taylor Swift fans across Asia have flocked to sign up for United Overseas Bank's cards as the frenzy to get hold of the pop star's Singapore concert tickets heats up.

The Supreme Court's decision to strike down billions in debt forgiveness could make it harder for millions of Americans to pay back other kinds of debt. It also threatens to further curtail lending in an already sluggish credit market.

JPMorgan Chase and Discover are among the firms developing new technology to allow more people to shop from behind the wheel.

Wells Fargo leads $70 million funding effort targeting credit-challenged entrepreneurs; PayPal adds Tap to Pay for Venmo, Zettle; Amex names new CFO to succeed retiring veteran finance chief and more in this week's banking news roundup.

The card brand's Multi Token Network supports transaction authentication for blockchains and other new electronic payment options.

The risk management firm Sardine is one of several tech providers trying to build partnerships with payment companies to thwart crooks that take advantage of the short window for instant settlement.

The list of 57 early adopters includes large banks like BNY Mellon, JPMorgan Chase and Wells Fargo, as well as large bank technology companies including Jack Henry, FIS and Fiserv.

When consumers can't figure out how to discontinue a video-streaming app or other service, they sometimes initiate a merchant dispute — a costly process that the card network aims to curtail.

Dallas-based Texas Capital Bank believes virtual credit cards, offered through a new fintech partnership, can help small-business customers make their payment processes more efficient.

This week in global news, U.K. payment regs draw fire, Alipay expands, Italy considers a central bank digital currency and more. 

The Block unit's new American Express card credits users with $1 in payment-processing fees for every $3 they spend on business expenses. It's also offering new loan terms and other tools for managing expenses and cash flow.

The fintech's revenue has soared as interest rates jump to contain inflation. CFO Matt Briers discussed the firm's strategy to navigate the inevitable decline.

The allegation that Binance encouraged the use of location-obscuring technology so that it could illegally serve U.S. clients is a symptom of a broader problem for financial services companies.

The bank's subsidiary TravelBank is countering the many fintechs that are entering its market.

The fintech Zepz has added a new remittance method with an FDIC-backed mobile bank account.

The instant-payments rail, which was set to go live this month, has postponed its launch indefinitely. Experts say it's having trouble keeping the interest of the country's major banks.

Rising interest rates on loans, greater borrowing and higher fees on deposit accounts all contributed to the increase. "Altogether, this paints a picture of debt that could really start to strain the checkbooks of American families," said Meghan Greene, a researcher at the nonprofit organization that authored the report.

JPMorgan Chase expanded one of the most high-profile projects to bring blockchain technology to traditional banking, introducing euro-denominated payments for corporate clients using its JPM Coin.