Payments

The card network will provide payments support for the social network's financial app, potentially contributing to its ability to scale.

Money remittance provider Wise said it "strongly disagrees" with the Consumer Financial Protection Bureau's characterization that it advertised inaccurate fees and did not properly disclose exchange rates.

The credit card issuer's earnings missed Wall Street estimates, but it reported improvement in sales, delinquencies and charge-offs. Management said unclear political direction and cloudy monetary policy could threaten an already conservative outlook for 2025.

CEO Michael Miebach says the card network's business in areas such as debit cards will enable it to compete if the mega merger results in the loss of Capital One's debit business.

The Czech Republic's central bank plans to shift billions of reserves to bitcoin. Plus Australia and the Netherlands crack down on BNPL, and other news from the world of payments.

Synchrony Financial's fourth-quarter earnings results missed analysts' forecasts and investors pummeled the stock due to a jump in charge-offs.

Circle and other payment executives say Trump's stated support for digital assets will remove hurdles that have held back support from merchants and consumers.

Biometric payment terminals were on full display at the National Retail Federation's Big Show in New York. American Banker's Joey Pizzolato tried terminals from Ingenico and JPMorgan Payments. What he found might surprise you.

Christopher Mufarrige is named acting director of the FTC's Bureau of Consumer Protection; TD Bank promotes Andrew Stewart, Nadir Johnes and Jo Jagadish; PayPal's John Kim is leaving the company; and more in this week's banking news roundup.

Steve Squeri told analysts his firm is prepared to compete with small-business technology providers like Ramp and Brex. He also weighed in on the potential payments behemoth that would result from Capital One's purchase of Discover.

The technology vendor is going outside the company to hire PNC vet Michael Lyons to replace Trump administration-bound Frank Bisignano, leaving the Pittsburgh-bank without its heir apparent for the top role.

The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."

The e-commerce giant has added payment and credit products, though it faces heavy competition from banks and other tech firms. Also, Stripe's layoffs and other news from the world of payments.

The bank is among traditional financial institutions attempting to counter the gains rivals have made in buy now/pay later.

CEO Richard Fairbank told analysts executives have their "microscopes" out for any signs of trouble, but consumers remain "in a great place."

Industry players, regulators and law enforcement will need to work together in 2025 to ensure that as Americans increasingly rely on digital payments, the fraudsters trying to take advantage of them are kept at bay.

The enhanced fintech partnership would build merchant scale, and selling U.K. and U.S. portfolios would free up cash.

Wakefield, Massachusetts-based The Savings Bank named Raichelle Kallery as its president and CEO; Los Angeles-based Banc of California is donating $1M to launch a recovery fund in response to the wildfires devastating Southern California; Amazon agreed to acquire the Bengaluri-based fintech Axio; and more in this week's banking news roundup.