Payments

Sergio Fogel is taking on a new role as co-president and chief strategy officer to help the fintech battle rivals across the globe.

Citizens Financial has teamed with Wisetack, which supports dozens of platforms connecting to thousands of home improvement, dental and veterinary service providers.

This week in global news: Stripe joins the MACH Alliance, GoCardless downsizes, CBA battles crypto crooks and more.

Relay Payments has signed a partnership with the operator of Pilot Flying J truck stops as it attempts to cut security risk by going digital.

Pesto, a San Francisco-based startup, invites consumers to ship their diamonds, gold and valuable jewelry to be appraised as assets backing a secured Mastercard. The firm has raised $11 million — and the eyebrows of some consumer advocates.

Banks that haven't built a plan to implement the Federal Reserve's new real-time payments system still have time to make up lost ground.

The credit card company says it could raise interest rates, charge new fees and implement penalty-based pricing if late fees get capped at $8. But its ability to maneuver is constrained by a 14-year-old federal law.

The payment company is focused on small-business borrowers operating in areas where branches are shutting down.

The Simplicity credit card from Citigroup has had staying power, suggesting that a card without late fees can be profitable. Its success shows how the U.S. card market might look different under a controversial CFPB proposal to slash those charges.

Smaller banks face challenges in providing their business customers with modernized tools to streamline payments, but the newest breed of embedded banking tools are making it easier for banks to help businesses increase revenue and cut costs.