Payments

Finzly was among the first fintechs to offer banks an API link to the Fed's instant-payments pilot last month, helping the firm hone its capabilities.

John and Patrick Collison became two of the world's richest millennials over the past decade as Stripe's valuation surged more than 5,000% — an ascent emblematic of the easy-money era. It hasn't been so easy of late.

Amid the fallout from the Silicon Valley Bank shutdown, some argue that reduced processing time could mitigate systemic disruptions.

The service offered by the Federal Reserve — after years of delays — is expected to expand access to fast payments clearing to a broader selection of banks and financial institutions.

NatWest joins U.K. banks in limiting crypto, Mastercard teams with fintech in the UAE, and more.

FutureCard, which originally resisted offering a physical card, is adding a recycled-plastic version to reach a wider audience.

Micro-merchants that sell on Etsy and Shopify were briefly unable to accept payments — an issue that could have been catastrophic had it lasted longer.

Signature Bank's payments network — used by cryptocurrency firms looking to exchange fiat currency in real time — is still online even after the lender was put into receivership.

When Circle USDC broke its peg to the dollar days after SVB's crisis, it revealed new uncertainties for cryptocurrency that's designed to resist volatility.

This week in banking news: Discover EVP Diane Offereins is retiring, Worldline enters the metaverse, SNAP pilots mobile payments and more.

Founders are starting to worry about whether startups will be able to keep paying employees following the failure of Silicon Valley Bank.

Brett Mooney returns to the card network as the country manager for Canada, a digital-forward market that is attracting more competition from banks and fintechs.

The major payment card networks are "pausing" the rollout of a new merchant category code to identify purchases at stores that sell guns and ammunition, following pushback from lawmakers in Florida and elsewhere.

The card network is examining how to make incentives more personal by using advanced technology to sift through a trove of consumer spending data.

The pandemic's push to expand contactless mass-transit payments has produced a 120% increase in Discover's transit transactions since 2020 as more commuters opt for the pay-as-you-go approach versus prepaying.

The bank has agreed to acquire Big Data Healthcare, a Texan fintech that automates commercial payments flowing to and from hospitals and medical groups. It's the latest example of banks' deepening health care investments.

The new offering will allow consumers to finance purchases of gear, parts, maintenance and fuel for ATVs, boats and motorcycles. The powersports sector has enjoyed strong growth since the early days of the pandemic.

PayPal said Chief Financial Officer Blake Jorgensen will step down following a leave of absence for health reasons, amid a shuffle of upper management at the online-payments platform.

This week's global news roundup includes Apple Pay securing a lingering holdout; a CBDC project that targets FX rates, and more.

Walmart sees great opportunities for its PhonePe unit, particularly in how it can boost Cashi, which the retail giant operates in Mexico.