Payments

The card brand has opened a development lab and is expanding contactless payments and other initiatives as financial technology companies boost investment in a market where access to mobile commerce is exploding.

Institutions that are already on the fence about joining the peer-to-peer network are expected to balk at the expense of standardized scam reimbursement, industry experts say. Small banks aren't openly opposing the concept yet, but many say they're still cautious about P2P.

The payments firm is staffing up as it accelerates its expansion in the U.S., and anticipates a pool of available tech workers.

Bermuda launches a stablecoin; Canada cracks down on crypto; big banks make high-profile payment appointments, and other news.  

The credit reporting firm said credit card and personal-loan delinquencies are likely to rise in 2023 to the highest in a dozen years, with lenders cutting back on originations as a potential recession looms.

The payments company has expanded digital-asset management services to Luxembourg, a potential foothold for European Union expansion.

Virtual gift cards have lagged plastic in popularity, but consumers could give them a second look in light of a surge in theft of paper checks and gift cards sent through the Postal Service.

Attacks designed to gauge the value of a stolen card are growing quickly as the transaction mix becomes more digital, with smaller and more frequent purchases.

BofA's Seattle shake-up, board "refreshment" at a Phoenix bank and more in banking news this week.

After years of fintechs taking the lead in modernizing cross-border payments, fresh momentum is coming from traditional payments and banking infrastructure players, including the card networks and the 50-year-old SWIFT.