Payments

Many of the application programming interfaces that help banks and fintechs share data predate the law that established open banking on the Continent.

The feature, which was years in the making, allows Amex cardholders to link their accounts to PayPal without leaving the issuer's app.

Card issuers are lobbying Visa behind the scenes to reduce Apple's share of revenue from recurring transactions made on its devices. But the iPhone maker has a track record of warding off threats to its income.

The partnership with Stellar Development Foundation will integrate MoneyGram’s network with the Stellar blockchain to facilitate payments using Circle Internet Financial’s USD Coin. 

As head of global liquidity and cash management, Reyes oversees an operation that has 9,000 employees serving 40,000 large corporate and midmarket companies and 1.5 million business banking clients.

Clark heads global transaction banking at MUFG Americas Holdings and is Bay Area president of MUFG Union Bank.

Executives from banks, credit unions, card issuers and investment firms at American Banker's Card Forum discussed ways the public's embrace of digital transactions and credit alternatives like buy now/pay later is shaping everything from products to business strategies.

Venture capital firms are pouring money into startups whose data-crunching technology — including machine-learning systems that predict funds availability — speed payments and inform credit decisions in e-commerce.

By limiting the credit offered to new borrowers during the pandemic, banks created an opening for installment lenders like Affirm, Afterpay and Klarna.

FirstBank is working with the two major U.S. real-time payments systems so that it can suit the preferences of different customers. Its flexibility could set an example for regional and small institutions.

Banks generally did not curtail loans to existing cardholders last year despite mass unemployment, according to new research by the Consumer Financial Protection Bureau. The results contrasted with what happened during the Great Recession.

TD and others are partnering with the money transmitter to respond to the competitive threat posed by startups offering low-value remittances. "Change is going to happen. Real-time payments are coming," a TD executive said at American Banker's Card Forum.

Several company leaders will relocate to Atlanta as part of the expansion, and the office will focus on technology and client services.

In many cases, stopping fraud in the moment is costly — and any transactions a bank flags incorrectly could alienate its best customers, a Bangor Savings Bank executive said at American Banker's Card Forum.

The second of three credit cards announced in June, Reflect rewards consumers who don't miss payments by extending the 18-month promotional period for its 0% annual percentage rate to 21 months.

Small merchants will be able to send customers directly to online stores from videos, advertisements or shopping sites using a new product created by the two companies.

Using data aggregation subsidiary Finicity, the card network will allow its bank and credit union partners to offer installment loans directly to consumers, who can repay from checking and savings accounts.

The tech giant's high-stakes court battle with Epic Games over App Store checkout pricing has gotten most of the attention. But its policies are also facing scrutiny in the U.K., Japan, Australia and elsewhere.

Apple has a new method for integrating health records with its Wallet app, helping retailers check vaccination status before accepting payment. Here's why that could be concerning for credit card issuers.

The country has long expressed displeasure with cryptocurrencies because of their ties to fraud and money laundering, and the excessive energy usage needed to produce them.