Payments

Vectra Bank Colorado President Bruce Alexander is retiring after 25 years with the bank; Unilever Federal Credit Union in New Jersey was shut down by NCUA; Vista Bank hired Bob Mahalik in preparation for Texas bank M&A; and more in this week's banking news roundup.

Unexpected changes in spending patterns on the P2P app caused the company to miss internal and analyst targets, resulting in a more cautious shift in its annual guidance and a plummeting stock in afterhours trading.

As Trump's trade war causes politically influenced shifts, the card brand contends it is set to pick up volume in non-American corridors.

PayPal and Circle are among the companies pushing the rapidly growing payment-friendly cryptocurrency as a catalyst to use other services.

The card network took a 3% stake in Corpay to improve international payment processing for corporate clients, while also pushing technology that aims to drastically reduce the need for human supervision of artificial intelligence.

Financial inclusion cannot be allowed to become a meaningless set of buzzwords. Strong economic growth and future prosperity hinges on the ability of everyone in society to access financial services.

The card processor came up short on expected profits but hit analysts' estimates on revenue in the second quarter of its fiscal 2025. CEO Ryan McInerney said growth in payments volume, cross-border volume and processed transactions were strong even in the face of shaky economic conditions.

Super apps such as AliPay and WeChat Pay have carved out immense market share by enticing users as a one-stop shop for their payment, shopping and social needs in a model that many U.S.-based companies have tried to replicate. But what makes a super app successful, and how easy are they to launch?

During the payment company's earnings call, CEO Alex Chriss said "we can be a place to come in times of need."

Rob Abrams, CEO of J.P. Morgan Mobility Payments Solutions, is overseeing the development of in-car wallet systems that turn cars into rolling credit cards. He explains his vision of what connected cars could look like and do in the future.