Payments

The company is building on other 2022 launches including stock trading and faster remittances from the U.S. to Mexico in its campaign to offer an all-encompassing financial app.

U.S. credit card balances surged to a record in the third quarter as banks bet that consumers with less-than-stellar credit will be able to handle more debt. 

Atlanticus is testing a debit card that converts to a credit card within three months if customers demonstrate financial responsibility.

Gas, or the fee associated with crypto transactions, is spiking. Canvas and other tech firms are trying to ease this expense to promote the technology's use for payments and other financial services.

The Federal Reserve's latest rate hike will cost Americans with outstanding credit card debt more than $5 billion in additional interest over the next 12 months, according to an estimate from the personal-finance site WalletHub.

Mobile banking marches on, new blood for Visa fintech effort and more in banking news this week.

The payment company, which is downsizing, plans to expand into markets where merchants are increasingly migrating to digital commerce.

The payment platform will let institutional clients distribute digital payments more efficiently, using low-code software and artificial intelligence.

In a departure from its decadelong strategy of embedding itself directly in merchants' checkouts — and a bid to add value — PayPal is launching support for Apple Pay and Apple's Tap to Pay.

The central bank is budgeting initial losses for its long-anticipated instant payment system, which is scheduled to debut next summer.

A neon purple vending machine dispensing nonfungible tokens for £10 ($11.18) a pop has materialized in the middle of London, drawing frosty stares from passers-by in the British capital. 

Stripe, one of the world's most valuable startups, will cut more than 1,000 jobs as it seeks to rein in costs ahead of any economic downturn.

Canadian merchants are now allowed to add a fee for Mastercard and Visa credit card transactions. But early indications suggest few will do so, fearing consumer backlash.

In global news this week, the U.K.'s FCA adds more tech for vetting; SWIFT delays digital pay standards and big banks join a global payment network.

By partnering with well-known payment providers like PayPal, Apple and Google, Bitstamp hopes to reach a broader audience.

Law enforcement's recent crackdown on shady operators paved the way for Amazon to bring broader scale and transparency to the lucrative market of lending to merchants.

The overall technology sector may be downsizing, but American Express is bulking up for a cross-department innovation initiative, and Visa, Mastercard and Discover are hiring thousands of programmers and developers.

The proliferation of mobile banking and online payment services like PayPal is one of several reasons more consumers have joined the financial mainstream, according to the FDIC's latest report on Americans' access to banking services.