Payments

After years of attempting to pivot away from its historic reliance on ATMs and point-of-sale hardware in favor of software, one of the industry's mainstays is running out of options.

Credit-card issuers and other lenders are developing financing options focused on managing interest, rewards and credit scores for consumers who face ongoing economic pressures to their budgets.

Because the youth account must be tied to a parent or guardian, it guarantees that an adult must also sign up — or keep active an account they may have left unused.

This week in global news: Canada cuts Visa and Mastercard fees; PhonePe draws new funding, and more.

The success of central bank digital currencies will be directly tied to their usability — by both individuals and businesses.

The product, designed for wealth management customers, is the first in the U.S. to implement Mastercard's Touch Card, which helps people distinguish credit, debit and prepaid cards through a notch on the card's edge.

To demonstrate the value of a central bank digital currency to small businesses, the U.S. card network is using Brazil's Real Digital to cut costs for local growers.

The Cincinnati, Ohio, bank targeted Rize Money due to its "ease of accessibility," according to Fifth Third's head of wholesale payments. The acquisition comes as the $205 billion-asset bank has seen wealth and asset management revenue decline in recent years.