Payments

The startup FuturePay is working with Cross River Bank to offer an instant line of revolving credit in a manner similar to how BNPL lenders operate.

Authentic Brands Group, which owns and licenses brands like Forever 21, has settled its lawsuit against Bolt Financial. The agreement ends months of legal wrangling between the troubled payments startup and its largest active customer, which had claimed that Bolt’s technology was faulty. 

In global news this week, the European Central Bank weighs in on fractured crypto regs, China's digital wallets come to Qatar, Amazon brings buy now/pay later to Egypt, and more.

The finance app Revolut is teaming up with Stripe to support payments in the U.K. and Europe.

Meta's wallet, which was designed to support the Diem cryptocurrency, will close in September. It's the latest setback for Meta's goal to build a broader payments system.

Banks and payment companies may have to decide whether to proactively protect or prohibit transactions for abortion treatment. Any action — or inaction — can be seen as taking a position on the highly divisive issue.

More banks, fintechs and organizations are launching projects or implementing plans to speed transaction processing.

Klarna Bank is in talks to raise new equity at a valuation as low as $6 billion, a fraction of the $45.6 billion it commanded last summer as it became Europe’s most valuable startup, according to people with knowledge of the matter.

With alternative payment methods one app or click away, a short service disruption can lead to a permanent loss of trust.

The retail industry, which wants the Federal Reserve to lower a decade-old price cap, has been complaining that higher prices for consumers mean heftier interchange fees. But banks are pointing out that the $10 billion-asset threshold below which financial institutions are exempt from the cap hasn’t been adjusted for inflation.