Payments

HP CEO and current PayPal board chair Enrique Lores will take over March 1, following a deep slump in the payment company's key metric.

President Donald Trump's support of legislation that would cap credit card interest rates at 10% has flagged in recent weeks, but experts say that the debate has highlighted significant gaps in regulators' understanding of the credit card market and how its risks are priced.

While stablecoins aren't widely used for merchant payments, blockchain tech firms such as BVNK and Polygon Labs are seeking opportunities to add speed to slow-moving international transfers.

The neobank was bullish on cryptocurrency and stablecoins, which could provide tailwinds as it looks to launch new products including crypto-based lending, institutional trading, and correspondent payments and settlements via stablecoins.

Like other payment executives, Steve Squeri expressed concern about affordability, but is not in favor of heavy restrictions.

CEO Ryan McInerney reiterated the company's long-held stance that the Credit Card Competition Act was "very harmful" and "just simply not needed."

The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit card interest rates.

The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.

A world of hundreds if not thousands of stablecoins sounds chaotic – but that's because we're still thinking of stablecoins as money. Consider their potential for strengthening customer loyalty and engagement.

The London-based fintech has launched a suite of financial services as its global expansion gains steam. That and more in the American Banker global payments and fintech roundup.

The e-commerce giant, which is in the midst of a corporate downsizing, is discontinuing its Go and Fresh stores and One palm checkout while it repurposes the underlying technology.

The bill, known as the STOP Act, was introduced by State Sen. Samra Brouk and Assemblymember Steven Raga, and proposes that any wage or cash advance be considered a loan and subject to the state's 16% civil usury law.

Merchants have mostly been silent on President Trump's call for a cap on credit-card interest rates. But they'd take a "huge hit" under such a plan, Synchrony CEO Brian Doubles said Tuesday.

TD Bank's Ruchira Ghosh, Northwest Bank's John Fick and Visa's Hector Rodriguez, with moderation by American Banker's Penny Crosman

The card network's Start Path engagement program is scouring the technology world for entrepreneurs working on the new form of artificial intelligence.

The risk facing U.S. banks is not that stablecoins will suddenly siphon deposits through yield alone. It is that deposits will gradually follow utility as financial experiences improve elsewhere.

Pre- and post-purchase, buy now/pay later loans from Affirm will be available on Fiserv-issued debit cards. Last year, Affirm and FIS inked a deal to bring Affirm's BNPL loans to FIS-issued debit cards.

The bank technology seller closed the sale of its payment processor to Global Payments, which sold its card issuing unit to FIS. Helping banks get a handle on artificial intelligence is a big part of FIS' plan to reach banks.