Payments

The Federal Trade Commission recently blasted two companies for their murky business practices and confusing charges. Industry experts say many digital and recurring payments are inviting more regulatory scrutiny.

National Australia Bank is adding a Pay By Bank option for near-instant payments, Italy is bringing open-loop payments to buses in Tuscany, and more.

Joining forces with mobile and faster payments, generative AI is coming on board to help deliver better customer experiences and combat fraud

Sophia Goldberg, CEO of the startup Ansa, is a self-described payments nerd. She studied this industry for years — and literally wrote the book on payments — before starting her own company to develop digital wallets. In this live session, Goldberg, one of American Banker's Innovators of the Year for 2024, will share lessons on consumer and merchant behavior, and the changes she expects to see.

Banks rely on fee income to a greater or lesser extent depending on business model, and the Biden administration is intent on cutting consumer fees across the economy. But that push might hamper another administration priority: financial inclusion.

Katherine Weislogel's career began by being in the right place at the right time.

By training a core payment card fraud-detection platform on more than 15 billion transactions, the card network is honing the accuracy of warnings sent to issuers about suspicious purchases.

Incumbents face the challenge of updating their infrastructure for digital payments, while newcomers are pushing to compete by using artificial intelligence, cloud hosting and other technologies.

Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.

Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.

The Federal Reserve has proposed that the two payments services run seven days a week, meaning they'd no longer close on weekends or holidays. The public has 60 days to comment.

The embedded banking services Amazon offers to third-party sellers come from the hidden hand of JPMorgan Chase's corporate payments arm, which markets its services to e-commerce platforms on a white-label basis.

Bolstered by healthy first-quarter global card-spending trends, Mastercard is focusing on opportunities outside the U.S., including a unique card-processing arrangement beginning this month in China.

The Bank of England set a date of March 2025 for local banks to establish operational resilience plans, Ant Group is using artificial intelligence to aid shopping, and more.

Touting strong first-quarter sales and revenue growth, CEO Alex Chriss committed to rebuilding the firm's languishing Xoom cross-border unit and driving more Pay with Venmo options.

Michigan State University Federal Credit Union is working with the relationship-based lending app Zirtue to offer members a tool for outlining lending agreements and repayment plans.

GLS had already stopped issuing first-use plastic as of 2018, but it wasn't enough for the eco-minded German bank. Fake plastic still looks and feels like plastic.

The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.

To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.