Payments

Pay-by-bank advances in the U.K.; British banks team to protect cash; Mastercard invests in Africa, and other news.

The Treasury Department's top official for financial markets and stability expressed little urgency over the federal government's need to prepare for the potential launch of a digital U.S. dollar.

The addition of in-person and online sales tools helps the company market itself as an alternative to processors and merchant acquirers for small merchants.

Centralized development programs for new companies provide access to potential clients and investors.

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.