Payments

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.