Payments

The financial services technology company is backing the first retail sportsbook connected to an MLB stadium, adding to its support for automated ticketing, concessions, staff compensation and loyalty. It's a broader combination the technology company hopes to replicate elsewhere.

The card network will use artificial intelligence to improve authentication via its latest team-up with the tech giant.

While most consumer sectors have been going digital, many physicians' offices, hospitals and clinics cling to a reimbursement system that relies heavily in printed statements, checks and manual processing.

The move gives the technology company a larger merchant network as it prepares to turn iPhones into payment acceptance devices.

Powered by a surge of bookings in March, travel and entertainment card spending at American Express rose 121% in the first quarter. The company also added 3 million accounts.

Bank of America said it will make all of its plastic credit and debit cards from recycled material beginning next year. 

Financial institutions are confronting major compliance challenges given the demands of Russian sanctions as well as the explosion of online gaming transactions and marijuana sales.

A day after Bank of Russia Gov. Elvira Nabiullina touted the country’s alternative to the SWIFT financial-messaging service, the regulator said it will no longer publicly disclose who participates.

The companies, which partnered to create a new digital shopping experience, say it made sense to focus on mom and pop stores that had to pivot to e-commerce during the pandemic. These businesses will be the first to get collaborative cloud-based tools including maps, marketing and payments.

Robinhood Markets agreed to acquire Ziglu, a London-based crypto and payments company, ending the U.S. brokerage’s long pause on international expansion.

Nandan Sheth hopes his experience as a fintech founder and as an executive with firms such as Fiserv will help the installment lender become a better partner for card issuers.

Mastercard's metaverse designs, a guilty plea for fraud conspiracy and more in banking news this week

As rising inflation and supply-chain shortages create new urgency for businesses to settle transactions quickly, more community banks and credit unions are recognizing the need for instant payments, according to The Clearing House.

Walmart named PayPal Chief Financial Officer John Rainey as its new finance chief, turning to a company outsider as it seeks to build a financial technology venture and a membership program.

Celebrities on the investor roster include Ashton Kutcher, Justin Bieber, Steve Aoki and Gwyneth Paltrow. 

A few months after cutting ties with its Diem stablecoin project, the company formerly known as Facebook is testing a virtual world marketplace.

In global news this week, Mastercard doubling headcount in Dublin; Ebanx in Brazil adds a cross-border option for merchants; NAB filters offensive content from mobile payments; and more.

The crypto payments startup Circle Internet Financial said it’s closer to submitting an application to operate as a bank in the U.S., pushing forward with a months-old plan even as regulators make it more difficult for crypto companies to secure this kind of license.

Bread Financial — formerly Alliance Data — offers its first general-purpose Amex credit card to expand consumer finance options following a couple of tumultuous years.

Vanguard Group will give some American Express credit card customers access to financial advice, a business the fund manager is working to build up.