Payments

The finance app Revolut is teaming up with Stripe to support payments in the U.K. and Europe.

Meta's wallet, which was designed to support the Diem cryptocurrency, will close in September. It's the latest setback for Meta's goal to build a broader payments system.

Banks and payment companies may have to decide whether to proactively protect or prohibit transactions for abortion treatment. Any action — or inaction — can be seen as taking a position on the highly divisive issue.

More banks, fintechs and organizations are launching projects or implementing plans to speed transaction processing.

Klarna Bank is in talks to raise new equity at a valuation as low as $6 billion, a fraction of the $45.6 billion it commanded last summer as it became Europe’s most valuable startup, according to people with knowledge of the matter.

With alternative payment methods one app or click away, a short service disruption can lead to a permanent loss of trust.

The retail industry, which wants the Federal Reserve to lower a decade-old price cap, has been complaining that higher prices for consumers mean heftier interchange fees. But banks are pointing out that the $10 billion-asset threshold below which financial institutions are exempt from the cap hasn’t been adjusted for inflation.

The buy now/pay later startup Zilch has raised a further $50 million, upping the total raise for its Series C fundraising to $160 million as it plans bolster U.S. expansion plans. 

The card network has found common ground with retailers, revising its policies to help them better combat a type of fraud where consumers attempt to dispute legitimate purchases.

After being hard-hit financially by the pandemic and the surging inflation that followed, the generation entering adulthood is meshing their love of late-‘90s nostalgia — think cargo pants, bucket hats and disposable cameras — with a dose of old-fashioned frugality.