Payments

Gripes against peer-to-peer payments services spiked during the past year as U.S. consumers flocked to Venmo, Cash App, Zelle and the like to transfer money.

Resorts World is building its entire customer experience around a digital app, hoping to eliminate the need for — and costs of — handling paper money.

Goldman Sachs Group has begun offering cash management and treasury services in the U.K. as it builds out its new transaction-banking arm.

During lockdown, adoption of services like mobile order-and-pay, biometric authentication, contactless fare collection and digital currency accelerated. Consumers have more options than ever — and their behaviors will guide further innovation.

Inventory shortfalls continue to constrain commercial lending, while the savings glut is holding back consumer borrowing, industry executives say. The good news: At some banks, pipelines are at or above pre-pandemic levels.

Teampay is using the card network's technology, which was first designed for the Apple Card, to offer virtual accounts for corporate spending.

Under the deal, the $425 billion-asset bank will become the exclusive card issuer for the home furnishings retailer, which long partnered with Alliance Data Systems.

Eight months after its debut, more than 10,000 customers have signed up for the service, which allows transgender and nonbinary consumers to use their chosen name.

Six Clovers, a digital payments company founded by two former PayPal developers, designed its Rapid platform to enable fast cross-border transactions using cryptocurrencies backed by government-issued money.

The data analytics provider has deployed cloud hosting to scour international payments for signs of fraud and money laundering.

The social network now lets people send links and QR codes to request funds through the Messenger app, but users may have little incentive to switch — or to trust Facebook with more of their data.

There’s a new unicorn in Latin America: Clip, a payments fintech in Mexico targeting small and midsize companies.

Brian Doubles, who became the card issuer’s chief executive in April, also expressed optimism that pent-up consumer demand will spur renewed spending this year.

Klarna Bank AB is raising fresh funds led by SoftBank Group that value the Swedish fintech startup at $45.6 billion, just months after two separate investment rounds sent the company’s valuation soaring.

The bank has its eye on younger cardholders who are ready to spend more heavily now that pandemic restrictions have eased.

The bank is shortening the time for deposit availability in the hope of serving use cases like gig economy workers and disaster relief.

The Federal Reserve has signaled the need for congressional authorization if the central bank moves ahead with creating a digital currency. But senators raised questions at a hearing about whether it would help consumers, how it would complement private-sector banking and other issues.

COVID-19 economic pressures have pushed more adults living paycheck-to-paycheck to want their income early, calling into question the value of decades-old payroll practices — and highlighting disparities along economic, racial and gender lines.

Amazon.com is fielding bids to replace JPMorgan Chase as the issuer on its popular co-brand credit card as a fresh wave of competition for new card customers emerges.

Global Payments' TSYS subsidiary and BM Technologies will offer the program, which allows transgender and nonbinary consumers to use their preferred name on payment cards.