Payments

Cobranded travel credit cards — including some of the most popular and profitable in the payment card industry — are looking at darker skies because of COVID-19.

The central bank will inject $1.5 trillion into the money market, including buying more longer-term bonds; JPMorgan says its CEO “is doing very well” as he recovers from heart surgery.

Australia’s Airwallex group is seeking about $200 million in a series D equity funding round to bankroll its cross-border payments business globally, according to people familiar with the matter.

In the tug-of-war between banks and third parties over who controls access to customer account data, payments are primed to play a key role as banks start to take action and regulators begin to weigh in.

The Fed can take steps now to speed up existing networks.

As we launch into a new decade, today’s new workforce wants, expects and demands easy-to-use apps in the vein of what they’re used to in their day-to-day lives, says Fyle's Yash Madhusudan.

If a checking account doesn’t come with checks anymore, can it still be called a checking account? It’s a valid question that the financial services industry should be asking itself.

Credit card issuers caught in the trap of chasing new customers with increasingly costly rewards-point programs are trying something new: letting more users redeem rewards directly with merchants instead of acting as the intermediary.

A handful of banks keep trying to make the customer-Alexa connection happen; banks are more worried about payments firms than other types of fintechs; how financial institutions are coping with COVID-19; and more from this week’s most-read stories.

Wells Fargo hopes to anchor its debit card at the top of customers’ digital wallets with a promotion offering users a $5 credit.