Payments

The digital financial services firm announced layoffs Tuesday, with the goal of keeping the company steady until conditions improve for its business users.

Fintechs' venture capital funding began to evaporate last year, while payments startups fared somewhat better by emphasizing quicker pathways to profits. It's a trend experts say is likely to persist this year as investors remain more cautious about costly or long-term plays.

Longtime executive Raymond Joabar discusses how the card network mixes direct outreach and fintech partnerships to build a global network covering the U.K., the Caribbean and other regions.

The technology company will allow outside processors, but plans to charge a commission. Epic Games vows to challenge the move in court.

Companies like NCR Voyix, Salesforce and Sainsbury's are keen to deploy technology that used to be science fiction — such as scanning a shopper's eyes to access their accounts, or using AI to streamline checkout.

A sharp increase in credit card account write-offs, a slowdown in consumer spending and heavy compliance costs triggered a 62% decline in fourth-quarter earnings.

The retail giants are testing the limits of what customers will allow a generative AI system to do before making a payment.

As merchants push the government for relief from funding consumer card perks, the card network is exploring how to replace cash with digital incentives.

Worldline and Google partner team up for cloud computing; Global Payments works with Commerz in Germany.

American Express has built platforms to help smaller brands quickly bring credit cards to market and for B2B software companies to embed virtual cards.

When the e-commerce giant designs and revises new store models like Just Walk Out, it faces a challenge: How do you train technology that requires real-world data that doesn't yet exist?

Payments fraud is the most expensive kind, at $450B; anti-financial-crime execs are the most worried about real-time payments, a survey from Nasdaq and Oliver Wyman found.

Companies such as SeatGeek, a ticketing provider that requires its employees to do a lot of travel, find that artificial intelligence can help manage a large amount of data tied to travel and expenses.

The technology company's move in Georgia could widen its processing relationships with merchants, but the company insists it won't become a traditional financial institution.

Tech company Circle files for an IPO; Amazon wants to extend its Just Walk Out technology to hospitals; Pacific Financial expands in suburban Oregon; and more in the weekly banking news roundup.

The card network is creating a generative AI-powered chatbot to give small-business owners personalized assistance, emphasizing 'inclusive' resources and mentorship for minority entrepreneurs.

Like a ratchet, price controls in the payments industry move only one way, destroying value and reducing incentives for innovation.

The card networks are expanding their development of accelerators for women and minority-owned businesses, improving these entrepreneurs' access to venture capital.

In comments submitted to the Consumer Financial Protection Bureau concerning its "large participant" rule governing Big Tech in payments, many commenters outlined procedural concerns, suggesting there may be grounds for litigation when the rule is finalized.

In addition to Ant's possible deal to buy MultiSafepay and Adyen's work with Straumur, Visa has partnered with TECH5 on government ID and Mastercard is expanding its virtual-card network through Rawbank.