Payments

After years of fintechs taking the lead in modernizing cross-border payments, fresh momentum is coming from traditional payments and banking infrastructure players, including the card networks and the 50-year-old SWIFT.

Markus Braun makes his first public appearance in court on Thursday, more than two years after his highflying digital-payment company Wirecard collapsed under the weight of fraud allegations.

A $1 billion investment from Credit Suisse gives the startup the means to bring its all-in-one payment card to a new market.

Barclays' chief operating officer is stepping down, setting off an overhaul of its top rankks.

In global news this week, the EU cracks down on buy now/pay later; France conducts digital currency test, Tencent launches cross-border payments, and other news.

The transfer service is reportedly building a standardized system to reimburse victims. It could take a lot of complex work to execute the plan.

Banks like BNY Mellon can compete with payment tech startups, or they can partner with them to make the most of their innovations. But in doing so, they give a potential competitor a direct line to the bank's sizable customer base.

The Consumer Financial Protection Bureau is investigating how the Jack Dorsey-led company handles fraud on its person-to-person payments app. After the bureau accused Block of dragging its feet, a federal magistrate judge gave the company a Jan. 5 deadline.

Marijuana shops across the U.S. are rushing to find alternative ways for customers to pay after networks that supported a popular workaround to the banking system began to shut down last week.

Institutions outside the U.S. are holding an estimated $65 trillion in "missing" dollar debt off their balance sheets through currency derivatives, making it harder for global policymakers to anticipate the next financial crisis.

A new business group led by Republican heavyweights will launch its first seven-figure ad campaign this week. The target: legislation taking aim at a key source of revenue for Visa and Mastercard.

Baseball great joins Farmers National team, waiting game ends for two deals and more in banking news this week.

The card company has rapidly expanded its business products this year, focusing on the hardships caused by inflation and supply-chain issues.

Bank of the West and Mastercard are separately advancing use cases for digital issuance to overcome the supply-chain slowdowns and other issues straining the global economy.

Barclays was fined for failing to provide retailers with adequate transaction information, leaving retailers unable to easily understand the fees associated with certain types of card payments.

Banks are developing technology to identify potential mass shooters, according to a CEO backing the push to get credit card companies to track gun purchases more closely.

The Swedish buy now/pay later lender insists it is on a path to profitability, despite mounting losses.

In global news this week, Virgin Atlantic upgrades its payment system, Ireland proposes cash preservation regulation, PayPal's under pressure in Poland, and more.

Rising interest rates and tightening consumer credit are likely to drive many consumers to use interest-free point-of-sale loans, putting BNPL fintechs' data-driven underwriting to the test.

Mastercard lost a bid to narrow the size of the U.K.'s largest- ever class action claim over its payment fees after appeal judges rejected its attempt to exclude some 3 million people who died since the claim was first filed.