Payments

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

The bank is using data sharing technology from Mastercard to enable salaries and recurring bills to be onboarded without the manual steps involved in changing accounts.

Western Union's North American money transfer business logged a decline in cross-border remittance revenue, led by drops in the U.S. to Mexico corridor, its largest remittance stream by far. The company is also bracing for the 1% remittance tax codified in the "Big Beautiful Bill," a levy that does not directly apply to banks.

Unlike rival Fiserv, the bank technology company does not plan to issue its own coin immediately, but it does feel the lure of the broader digital asset market.

Direct-to-consumer earned wage access provider EarnIn is rolling out Live Pay, a service that "streams" consumers' paychecks via a Visa card. It's a model banks could replicate.

Klarna Group Plc is considering reviving its potential New York initial public offering as soon as September, people familiar with the matter said, following a recent surge in fintech stock prices and strong debuts of US listings.

A2A, or pay by bank payments, are an alternative to card networks, a lower-cost option that is catching on with consumers and merchants.

The card network said inflation remains in check and any impacts of Capital One moving cards to the Discover network will be muted and delayed until 2026.

Noelle Acheson outlines the key blockchain innovations for payment programmability, and highlights their advantages and their risks.

Block, which maintains its original Square brand for its business-focused products, is offering easier access to cash advances for small businesses. Also, Amex and Mastercard expand their virtual card strategy; and more in the American Banker global payments and fintech roundup.