Payments

The $650 million deal would add services for financial institutions seeking a faster path to upgrade their technology.

Stablecoins are unlikely to be the future of payments despite their growing market value in the last two years, according to a Federal Reserve Bank of New York blog post.

The Pakistan-based buy now/pay later startup is expanding to the U.S. and regional markets by introducing its one-click checkout product, its CEO says.

Earned wage access companies are finding that their product, which allows employees to receive a portion of their salary ahead of the traditional two-week cycle, can aid nurses and other professionals in addressing the work-life imbalance that contributes to the Great Resignation.

MVB Bank more than tripled its deposits in five years by providing accounts to sports betting sites, as well as technology companies that cater to other industries.

The increase was driven by small businesses including property managers, contractors and beauty salons.

Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.

The upgrades merchants made to accept chip cards and mobile wallets have made it easier to add new services via software updates. NCR and other point-of-sale vendors are using these systems to support digital currencies without requiring new hardware.

Working with Bumped, TAB Bank is offering customers “cash back” as fractional shares of popular retailers.

U.S. lenders issued more credit cards than ever last year, with a growing share of them going to consumers with lower credit scores.