Payments

Bank of the West and Mastercard are separately advancing use cases for digital issuance to overcome the supply-chain slowdowns and other issues straining the global economy.

Barclays was fined for failing to provide retailers with adequate transaction information, leaving retailers unable to easily understand the fees associated with certain types of card payments.

Banks are developing technology to identify potential mass shooters, according to a CEO backing the push to get credit card companies to track gun purchases more closely.

The Swedish buy now/pay later lender insists it is on a path to profitability, despite mounting losses.

In global news this week, Virgin Atlantic upgrades its payment system, Ireland proposes cash preservation regulation, PayPal's under pressure in Poland, and more.

Rising interest rates and tightening consumer credit are likely to drive many consumers to use interest-free point-of-sale loans, putting BNPL fintechs' data-driven underwriting to the test.

Mastercard lost a bid to narrow the size of the U.K.'s largest- ever class action claim over its payment fees after appeal judges rejected its attempt to exclude some 3 million people who died since the claim was first filed.

Payment firms including Mastercard and Block are banding together with fintech companies to press Canada to move faster on rules that may boost competition in financial services.

The bank-led peer-to-peer payment system reportedly wants to standardize how it handles reimbursements for fraud. The move would have to both reassure consumers and keep regulators at bay.

In global news this week, WeChat Pay enables instant payments outside China, Mastercard takes a minority stake in Societe Generale subsidiary Treezor, Sella Group tests a fingerprint payment card in Italy, and more.