Payments

As innovation in other domains accelerates, the inertia plaguing our international payment systems is a critical bottleneck, stifling U.S. businesses that choose to engage in global commerce.

CaixaBank assembled a team of more than 100 people focused on generative artificial intelligence products, Ripple changed the name of RippleNet to Ripple Payments, and more.

Regulators in the U.K. are weighing a cap on some of the fees that Visa and Mastercard charge local merchants for each card transaction, seeking to rein in charges that have risen fivefold since Brexit.

A jury found the tech giant violated anti-monopoly rules by requiring in-house checkout for game makers such as Epic, which publishes Fortnite. Google and Apple may have to cut fees, but outside processors will be challenged to create a winning user experience.

Michael Rhodes, who has spent the last dozen years in various executive roles at TD Bank Group, will become president and CEO of Discover Financial Services. The move comes four months after the unexpected departure of Discover's longtime CEO Roger Hochschild.

A tightening economy plus an aggressive start to fourth quarter shopping will put firms' underwriting decisions under the microscope as regulators' concerns mount.

Activist investor Bluebell Capital Partners called on French payments company Worldline to shake up its board and replace its chairman to "restore the trust of the market" after the shares plunged almost 60% in a day.

Block is offering a new hardware Bitcoin wallet as crypto advocate Jack Dorsey focuses the payments company formerly known as Square more on security and self-governance for the digital-asset sector.

Visa, Mastercard, SAP, Circle and many other financial firms are launching digital card accounts with an emphasis on B2B clients.

The e-commerce giant will no longer support the P2P app as a payment option, despite PayPal's long-established hopes for a valuable relationship.