Payments

Amazon's buy now/pay later partnership with Affirm expands; NAFCU-CUNA merger gets affirmative vote from members; expense-reporting firm Navan rolls out European bank partnerships; and more in the weekly banking news roundup.

Taking the reins again as chief executive of Block following the recent departure of CEO Alyssa Henry, Jack Dorsey has launched internal changes to jump-start growth, eliminate silos and promote the use of artificial intelligence.

Companies such as Visa and Mastercard, as well as banks and retailers, are stepping up their investments in artificial intelligence to reach small businesses and spot new uses.

The subpoena asks the company to produce documents tied to its work on the dollar-linked stablecoin PayPal USD. The company says in a regulatory filing that it's cooperating with the probe. 

Alex Chriss, the new chief executive, says the firm aims to reverse its stock slump by assessing its business to favor its best-performing products.

The card network sells aggregate information about customer spending habits, which data-privacy advocates say goes past Mastercard's role as a payment processor. Mastercard explained the recent removal of certain advertisements as a business decision.

The U.K.'s Financial Conduct Authority released data that shows buy now/pay later lending on the rise, Ripple is working with Uphold to improve crypto liquidity and more.

Venture capital was pouring into new generative artificial intelligence technology before President Biden issued an order that could cool the rate of funds flowing into the sector. Experts say that's not necessarily a bad thing for banks.

The tech billionaire wants the former Twitter's users to manage all of their finances on the site — the sooner, the better.

The Electronic Payments Coalition said that Sens. Dick Durbin and Roger Marshall are retaliating against the airline industry, which has been critical of their credit-card swipe-fee legislation. The two senators have called for an investigation of airlines in connection with purportedly unfair practices in their loyalty programs.

As the holiday shopping season approaches, late payments on credit cards have surpassed their pre-pandemic levels, according to a new VantageScore report. The consumers showing signs of deterioration include not only subprime borrowers, but also those with prime credit scores.

The product-comparison site, which rates and ranks credit cards, is debuting its own secured credit card that it believes will help users improve their credit scores and pursue better offers.

By purchasing the merchant acquirer Atlantic-Pacific Processing Systems, the fintech Stax has rounded out its offerings in a way that echoes the structure of larger payment companies.

The U.K. government confirmed plans to regulate cryptoasset activities more strictly, bringing them under the same regime as traditional financial services.

The credit card company has been seeing late payments and charge-offs jump following the stellar credit trends of the pandemic. But there were signs last quarter that the picture has started to stabilize.

The Federal Reserve's vice chair for supervision said FedNow and digital currencies are important areas for research, but not at the expense of legacy systems like cash and debit.

JP Morgan Chase and Carver Federal Savings are applying fast-acting security tools more broadly — regardless of how fast the transaction is.

Britons are pulling more and more cash from bank accounts that don't pay enough interest. It's beginning to hit the U.K.'s biggest lenders where it hurts.

Intensifying economic pressures caused Bread Financial's customers to cut their credit card spending by 13% during the third quarter as the rate of delinquent accounts rose.