Payments

Former Mastercard chief executive Ajay Banga is a surprise pick to be the next president of the World Bankm as Washington pushes the lender to expand its financial firepower and confront global issues such as climate change and public health.

The terminal maker's collaboration with Splitit, Klarna and biometrics firm Fujitsu Frontech are an attempt to go beyond the limitations of traditional payments hardware.

Digital asset startup MoonPay has appointed former Coinbase executive Asiff Hirji as its new president and chief operating officer. Hirji aims to continue the company's push into the nonfungible token market.

CBDC tests in Japan, real-time payments in Singapore and India, and more. Here's what's happening around the world.

Government-operated payment systems aren't necessary and reduce choice, competition, innovation and value for consumers, businesses and banks.

TD Bank estimates it hands out 20 million pens every year. Huntington is getting close to offering its 80 millionth pen. It's a way to get a bank's brand to travel with customers across the globe, but is it worth it?

A new credit union service organization uses Prizeout's technology to incentivize members to buy gift cards from local stores.

To speed up customers' access to new and replacement cards, the Virginia-based bank created a process to provide a digital card number via the web or its mobile app.

Federal Home Loan Bank of Chicago has a new CFO, while Visa's CFO plans for retirement. These stories and more in banking news this week.

The Clearing House has operated its RTP network for about six years, and the FedNow rail is expected to launch later this year. Here's a look at the nuts and bolts of instant money movement, and how the two systems are different.