Payments

The portfolio, which Bank of America has handled since 2015, has roughly $100 million in balances.

The tech entrepreneur has been increasingly focused on Bitcoin, a key growth area for the payments company he co-founded.

Symphony Technology Group is in talks to acquire parts of Fidelity National Information Services' capital markets business in a deal that could be valued at about $2 billion, according to people familiar with the matter.

The fintech is working with Discover, Ally and Alliance Data to offer a wider range of products on top of interest-free installment loans.

The additions follow the launch of Pay Now and the Klarna Card in the U.K., Italy and other parts of Europe.

The e-commerce giant has threatened to ban Visa cards in the U.K., and its partnerships with the likes of Affirm and Venmo give it alternative ways to accept payments — and the means to make good on that ultimatum.

The Cleveland company has bought out XUP after taking an equity stake in it early this year, saying its technology showed promise in simplifying enrollment of small and middle-market companies in multiple commercial payments services.

American Express said it discontinued a service known as Premium Wire and terminated some employees after workers inappropriately positioned the product to customers. 

The online retailer’s plan to block certain credit card payments in Britain is seen as an opening move in likely negotiations with Mastercard and Visa ahead of the card networks' planned fee hikes in 2022.

Americans are looking for immediate ways to offset rising costs, rather than saving points for future travel. Cash rewards, which were already growing in popularity, are now even more coveted.

A financial literacy and aid program from a coalition of mayors will distribute 10 monthly payments of $350 to 125 youths via the Mastercard-branded Crescent City Card.

The way merchants handle payments is becoming just as important as the actual business they're in, says Jeremy Balkin, global head of innovation and corporate development at J.P. Morgan Payments.

Several rail and bus lines are working with Interac, the country's debit network, and its bank partners to allow the new fare payment option in addition to credit cards. They see the collaboration as a way to expand ridership among tourists and low-income residents.

The card network chose the majority-Black city as the site of its new operations center in part to improve the racial makeup of its workforce and create a new path to leadership for minorities.

The cobranded Amex-Morgan Stanley brokerage card replaces one that offered loyalty points instead of cash.

The data aggregator is recruiting partners such as Railsbank, Silicon Valley Bank and Marqeta for a project designed to make certain digital transactions easier to complete.

U.S. consumers’ card debt, which fell sharply last year, has now climbed for two consecutive quarters. The upcoming holiday shopping season will signal how quickly borrowing will return to 2019 levels.

The partnership with the e-commerce giant could help PayPal overcome muted fourth-quarter sales due to supply-chain issues and other factors changing consumer spending.

On Jun. 30, 2021. Dollars in thousands.

The bank is partnering with Anthemis to match investors with female entrepreneurs, who according to Findexable research attract just 1.5% of investment in the sector.