Payments

American Express said it discontinued a service known as Premium Wire and terminated some employees after workers inappropriately positioned the product to customers. 

The online retailer’s plan to block certain credit card payments in Britain is seen as an opening move in likely negotiations with Mastercard and Visa ahead of the card networks' planned fee hikes in 2022.

Americans are looking for immediate ways to offset rising costs, rather than saving points for future travel. Cash rewards, which were already growing in popularity, are now even more coveted.

A financial literacy and aid program from a coalition of mayors will distribute 10 monthly payments of $350 to 125 youths via the Mastercard-branded Crescent City Card.

Several rail and bus lines are working with Interac, the country's debit network, and its bank partners to allow the new fare payment option in addition to credit cards. They see the collaboration as a way to expand ridership among tourists and low-income residents.

The card network chose the majority-Black city as the site of its new operations center in part to improve the racial makeup of its workforce and create a new path to leadership for minorities.

The cobranded Amex-Morgan Stanley brokerage card replaces one that offered loyalty points instead of cash.

The data aggregator is recruiting partners such as Railsbank, Silicon Valley Bank and Marqeta for a project designed to make certain digital transactions easier to complete.

The partnership with the e-commerce giant could help PayPal overcome muted fourth-quarter sales due to supply-chain issues and other factors changing consumer spending.

The bank is partnering with Anthemis to match investors with female entrepreneurs, who according to Findexable research attract just 1.5% of investment in the sector.