Payments

Block has combined buy now/pay later with peer-to-peer payments, part of a big bet that younger consumers want an alternative to credit cards.

Visa and Mastercard have long been in legal battles over payment fees, with out-of-court agreements proving elusive.

The card-issuing company has appointed CFO Mike Milotich as interim CEO as Simon Khalaf steps down. The firm also agreed to buy European payment provider TransactPay.

As the company asserts profitability and focuses on AI-powered checkout, its $95 billion high-water mark from the pandemic-era 2021 bubble is in sight, providing clues about broader investor demand.

Flexa's new tap-to-pay function is the first cryptocurrency contactless payment option that does not require an app or the internet to function.

The company's cards will combine with the Alipay digital wallet, enabling foreign travelers to use local currency while reducing fees and processing steps. That and more in the American Banker global payments roundup.

Earned wage access is shaping up to be the most divisive financial product in decades as industry trade groups and consumer advocates spar over whether EWA should be classified as credit in order to protect consumers. Is there a middle ground?

More consumers and small-business clients are clamoring for earned wage access, as states step up regulation and a CFPB interpretive rule hangs in the balance.

The collaboration will enable the payment company's Fastlane system to reach merchants in the U.K. and Europe, addressing a need to scale the product quickly.

The payments company, which is unifying parts of its operation to deepen its reach with consumers and businesses, saw its stock fall more than 10% after reporting mixed earnings, though analysts are more bullish on the company's future.