Payments

Customers have been particularly frustrated with midsize issuers for failing to adjust their rewards programs to reflect changing behavior and generally being less responsive than large issuers, according to a new report from J.D. Power.

The central bank wants financial institutions to enable additional routing options for online purchases, a change industry advocates say would strain the resources of smaller card issuers.

Paul Camp will join the company in November to run its new Global Treasury Management division. Wells Fargo says the goal in combining its treasury management and global payments units is to improve service for clients doing business in multiple countries.

Walmart is looking to hire a cryptocurrency expert to develop a blockchain strategy, joining a growing number of major corporations exploring the viability of digital currencies such as bitcoin.

The card network is bringing Verizon into its innovation lab to turn more phones into payment acceptance devices and use the growing number of consumer gadgets and digital assistants to better verify consumer identities.

Holders of the card, issued by Synchrony Financial, receive 3% cash back on medical visits, veterinarian bills, gym fees and certain other health-related expenses.

The London neobank, which has applied for a banking charter in California, is working to undercut banks on pricing for consumer payments to Mexico.

Nu Pagamentos, the Brazilian fintech backed by Warren Buffett’s Berkshire Hathaway, is planning an initial public offering of more than $2 billion on the Nasdaq for the end of this year, according to people familiar with the matter.

Card networks are working with the Metropolitan Transportation Authority to build on touchless fare collection for marketing and commerce.

The deal will help the bank serve small-business customers that are shifting to digital payments.

The e-commerce giant is adding a surcharge for Visa credit card payments in Singapore. It's a tactic reminiscent of the time its big-box rival outright banned the card brand in Thunder Bay, Ontario, in a bid to lower its costs.

JPMorgan Chase revamped the rewards on its popular Sapphire cards as the fight to win affluent customers continues to escalate.

On Mar. 31, 2021. Dollars in thousands.

Growing financial pressures have pushed more adults into living paycheck-to-paycheck and wanting to access their earned pay earlier, calling into question the value of decades-old payroll practices.

As people more heavily use exchanges and other providers of digital-asset-related services, they're registering more beefs with the Consumer Financial Protection Bureau, too. Experts say it's only a matter of time before the agency invokes its broad authority to police the sector.

If the new Facebook Pay feels underwhelming compared to the social network's past efforts, that's by design. It's now taking a slower approach that could help overcome the privacy concerns that plagued earlier projects.

The blockchain company's new lead on the Continent, Sendi Young, discusses its plans to foster real-time and cross-border transactions between banks and fintechs in ways that aren't possible on legacy networks.

Bank of America is adding a commercial credit card for on-the-go businesspeople in a bet that work travel will eventually return.

Consumers who had paid down balances during the pandemic started spending more, while issuers made additional credit available, according to researchers at the Federal Reserve Bank of New York. The findings suggest the start of a return to more normal borrowing patterns in the card industry.