Payments

The move gives the technology company a larger merchant network as it prepares to turn iPhones into payment acceptance devices.

Powered by a surge of bookings in March, travel and entertainment card spending at American Express rose 121% in the first quarter. The company also added 3 million accounts.

Financial institutions are confronting major compliance challenges given the demands of Russian sanctions as well as the explosion of online gaming transactions and marijuana sales.

A day after Bank of Russia Gov. Elvira Nabiullina touted the country’s alternative to the SWIFT financial-messaging service, the regulator said it will no longer publicly disclose who participates.

The companies, which partnered to create a new digital shopping experience, say it made sense to focus on mom and pop stores that had to pivot to e-commerce during the pandemic. These businesses will be the first to get collaborative cloud-based tools including maps, marketing and payments.

Robinhood Markets agreed to acquire Ziglu, a London-based crypto and payments company, ending the U.S. brokerage’s long pause on international expansion.

Nandan Sheth hopes his experience as a fintech founder and as an executive with firms such as Fiserv will help the installment lender become a better partner for card issuers.

Mastercard's metaverse designs, a guilty plea for fraud conspiracy and more in banking news this week

As rising inflation and supply-chain shortages create new urgency for businesses to settle transactions quickly, more community banks and credit unions are recognizing the need for instant payments, according to The Clearing House.

Walmart named PayPal Chief Financial Officer John Rainey as its new finance chief, turning to a company outsider as it seeks to build a financial technology venture and a membership program.