Payments

Generative artificial intelligence has usurped its traditional counterpart as the next growing technology taking the payments industry by storm.

Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.

More than 1.4 million small businesses bank with U.S. Bank, according to the company, and it's now offering help with managing expenses and accepting payments.

At the Los Angeles Clippers' Intuit Dome, technology developers hope to forge transaction habits that can be replicated elsewhere.

The administration's unpredictable policy has already caused shifts in foreign exchange rates and supply chain payments. Uncertainty about future levies will cause added pressure despite the 90-day pause.

Regulators said the payment company did not provide sufficient customer identification and monitoring, increasing risk for its transfer app. This week's fine follows earlier penalties in other states and the federal government.

Investors are finding a haven from stock market and crypto volatility, but an economic downturn could slow overall spending, imperiling stablecoins in retail and corporate transactions.

Consumer habits are the driving force behind industry-wide payments investments, be it digital wallet adoption, biometric authentication or payments platforms.