Payments

Law enforcement's recent crackdown on shady operators paved the way for Amazon to bring broader scale and transparency to the lucrative market of lending to merchants.

The overall technology sector may be downsizing, but American Express is bulking up for a cross-department innovation initiative, and Visa, Mastercard and Discover are hiring thousands of programmers and developers.

The proliferation of mobile banking and online payment services like PayPal is one of several reasons more consumers have joined the financial mainstream, according to the FDIC's latest report on Americans' access to banking services.

The Dutch payment company is offering merchant loans, a product that's become a staple of firms like Block and PayPal that have been luring entrepreneurs away from traditional financial institutions.

Citi unit backs fintech rewards, Mastercard's multinational score and more in banking news this week.

Cashier-free checkout firms such as Nayax and Pye, which just inked a distribution deal with JPMorgan Chase, see opportunities for their technology to help retailers respond to economic and hiring trends.

As with other card companies, the impact of higher prices and a potential recession is not yet showing up in performance, though it is pushing product diversification to reduce reliance on transaction volume — a strategy that helped during the early days of COVID.

JPMorgan Chase is building out teams that handle card transactions and other payments for businesses by recruiting staff across key Asian markets amid the boom in digital commerce.

Sen. Warren on Wednesday sent a letter to Consumer Financial Protection Bureau Director Rohit Chopra, calling for expanded regulations after she collected private data on rising fraud rates on Zelle from some of the country's largest banks.

In global news this week, India fines Google over its payment policy; U.K. regulators crack down on "greenwashing," and JCB tests a digital currency.