Payments

Late payments, which have been on a steady rise since 2021, are now climbing at a slower rate or even declining at some major card issuers. Risks remain, but there's 'reason to be cautiously optimistic," one analyst said.

An interchange provision included in Illinois' budget bill could force banks and payment processors nationwide to revamp their payments infrastructure, lobbying groups for the industry say.

Digital assets have never caught on for mainstream payments, but the card network isn't giving up hope. Its latest effort aims to reduce complexity by learning from the successes of digital wallets.

In the U.S., the COVID-19 pandemic and other factors caused a sharp reduction in cash use. But with paper bills still accounting for nearly a fifth of all payments, the option is still far too entrenched to risk extinction.

By making it easier to enroll and access financial services such as buy now/pay later lending, the search giant hopes to enhance connections with users.

The e-commerce firm will no longer accept Amex credit cards globally beginning in August, citing the card network's higher-than-average cost of acceptance.

Mastercard launches palm checkout in Uruguay, the U.K. commits to a gradual rollout of King Charles banknotes starting this week, and more.

A proposal from the Consumer Financial Protection Bureau to extend the same protections as credit cards to the fast-growing BNPL industry aims to protect consumers, but it could also stunt the nascent industry's growth, experts say.

The technology is adept at working with partial account numbers and other shreds of data to alert banks of ongoing and potential crime, the network contends.

In this edition of the American Banker news quiz, test yourself on topics such as Visa and Mastercard's shift away from relying on interchange, the Federal Reserve's efforts for balance sheet reduction, which financial services sector consumers trust the most and more.

In this week's banking news roundup: NCUA grants Tribe Federal Credit Union a provisional charter; ICBA Payments names Jacob Eisen its new president and CEO; Mission Fed Credit Union announces new role for longtime leader Steve Hasbrooke; and more.

The rise of ecommerce and vertical software-as-a-service platforms are prime opportunities for large banks to sell payment processing, card issuance and other banking capabilities.

Retailers like Walmart, Target and Dollar General are changing the ways they collect payments in person. This, in turn, could influence payment habits, but it is unlikely to slow the overall momentum of digital transactions.

A new tool from the San Francisco-based fintech deploys artificial intelligence to automatically adjust merchants' card transaction fraud filters based on changing risk factors in real time.

Payment firm BVNK is betting that PYUSD's potential to connect to PayPal's network of millions of consumers and businesses will make it more than another investment currency.

The retail giant has scrapped its credit card partnership with Capital One, its second public spat in recent years with a partner bank. Analysts say it may be a sign that Walmart wants to launch its own credit card on what it hopes will be a financial super-app.

A federal judge in Texas is locked in a back-and-forth with an appeals court over whether the industry's challenge to a cap on credit card late fees should be moved to Washington, D.C.

A reader takes issue with a column by the agency's former director in which she criticized its analysis of the consumer credit card market.

The Swedish financial institution argues over potential regulations that treat buy now/pay later lending like credit cards in the U.S.; Discover seeks the next hot market for real-time payments; and more.