Payments

Longtime Visa president Ryan McInerney will become CEO in February 2023 when Al Kelly steps down from the post he's held since 2016. Kelly will become executive chairman of the board following the transition.

TAB Bank's debit account, which rewards users with partial stock shares, is boosting the company's appeal among consumers who are younger, tech-savvy and underbanked.

The companies are improving the way older, "offline by nature" industries like steel and food services handle transactions and financing.

A group of unions filed a complaint against Starbucks Corp. with the U.S. Securities and Exchange Commission, asking the agency to investigate how the coffee chain accounts for unused money left on customers' stored-value cards and accounts.

In global news this week, Spanish banks test a CBDC, RBC offers buy now/pay later in Canada, and Microsoft expands its relationship with a British fintech.

Visa is working with online travel agencies to promote the use of virtual cards and tokens to streamline payments, refunds and add-ons.

Square will launch an Amex-branded credit card next year through its app, targeting its U.S.-based sellers using the card network's fintech-centric approach.

Younger borrowers and those with lower incomes added the most to their card balances in the third quarter, according to a New York Fed report. Delinquency levels are also on the rise, a sign that more consumers are struggling to pay off higher debt loads.

The financial institution is offering tools for merchants to make better use of the viral video platform.

Synthetic-ID scammers can use the same techniques they honed for stealing from banks to target consumers facing economic hardships.

Onward, an app that recently raised a Series A from investors that include Citi Ventures, helps separated and divorced parents transparently share expenses and pay each other back in one spot.

JPMorgan Chase is expanding beyond acquiring in the Canadian small-business market, where it will have to rely on new technologies to be competitive.

Klarna has rolled out a search and compare tool in the U.K. and Nordics as the fintech looks to diversify its revenue away from buy now/pay later, which is under increasing scrutiny.

Biometric payment cards, contactless smart-rings and a virtual marketplace created by Meta are among the latest developments in payments technology.

A new debit card for military veterans, Google expands a billing test and more in banking news this week.

Companies like Blockchain.com are teaming up with traditional financial firms to meet a demand that has endured despite the crash in many digital currencies' valuations.

Musk's public statements provide a rough road map for the creation of a financial services business. Social media sites has been down this road before.

In global news this week, HSBC offers real-time processing for investments, Ant adds buy now/pay later loans in Hong Kong, and Santander limits crypto in the U.K.

Small-business owners need all the savings they can get, but the proposed legislation will ultimately cost consumers and entrepreneurs.

The merchant service firm's stake in SoftPos.eu, which supports software-based smartphone payments, positions it to better serve the businesses that want to move away from traditional terminals.