Payments

The U.K. fintech has added support for online and in-person transactions, potentially fueling its international growth even though it reportedly faces scrutiny over its accounting practices.

The coffee giant, a pioneer in mobile payments, will let customers earn or buy non-fungible tokens through its mobile app as part of an overhaul of its rewards program.

The German vendor, which competes with firms like Block and PayPal, plans to reward shoppers who use its wallet app with SumUp merchants.

Renovite Technologies supports reconciliation and security, and is part of a series of moves the bank is making to counter the fintech incursion into payments.

VTB, one of the largest state-run financial institutions in Russia, is allowing transfers in yuan without using the SWIFT messaging system. However, building scale without access to Western markets will be a challenge.

The International Standards Organization's approval of a new merchant category code for gun and ammunition sales paves the way for credit card networks to begin flagging suspicious weapons sales to law enforcement agencies.

The average rate on variable-rate cards rose above 18% this week, the highest level since 1996, according to data from Bankrate.com. The industry has been enjoying large profits, which has caught the attention of the Consumer Financial Protection Bureau.

The new card is meant to make the advance-payroll offering a more appealing way to fight rising expenses.

Revolut Ltd. is launching a one-click payment feature in a bid to rival PayPal Inc. and other tech giants at online checkouts.

The total value of transactions flowing through Early Warning Service's peer-to-peer payments service rose nearly 30% during the second quarter, as more consumers used Zelle to pay recurring expenses.

The card network's test enables consumers to round up transactions to the nearest $1, $5 or $10 for donations to the organization of their choice.

In global news this week, Russia unveils its alternative to SWIFT, Revolut faces pressure in the U.K., Hong Kong reaches out for fintech talent, and more.

The credit-cards-as-a-service model allows small banks to develop more products — and keep more revenue — than they had when working with agent banks.

The e-commerce technology firm has built dozens of partnerships to expand services its clients can offer.

Technology designed to direct more consumers online can create difficulties for groups that rely on branches and other in-person services, according to Janis Bowdler, a racial equity counselor with the Treasury Department.

Everyware, a text-based billing company reports strong demand for installment loans — due in part to the immediacy with which people respond to messages that pop up on their phones.

The startup hopes these perks will help set it apart from the other issuers that use bank-account data to vet applicants who don't have robust credit histories.

Many BNPL lenders can credit their meteoric rise to the unique circumstances of the pandemic. As their market shifts, these companies are forced to find new avenues of growth under the increased scrutiny of the Consumer Financial Protection Bureau.

The payments subsidiary of U.S. Bank's is taking a new approach that it says can address the expense of setting up a new business.