Payments

After the Financial Conduct Authority told Klarna, Openpay, Clearpay and Laybuy to make their contract terms clearer, three of the companies refunded late-fee charges to consumers.

Bank of America has led a $20 million funding round into U.K. startup Banked, a tie-up that will give customers of e-commerce companies in the U.K. the option to make card-free purchases.

Mobile payments got an early start in parts of Africa more than a decade ago, but the continent's overall banking infrastructure lags far behind, creating a void for companies like AZA and WorldRemit to fill.

Affirm shares tumbled after the buy now/pay later firm whipsawed investors with an errant, early release of partial financial results and then forecast quarterly revenue that missed analyst estimates.

In many cases, it's as difficult to move money as it is to move products around the globe. Firms like Rapyd and BNY Mellon are trying to ease concerns that businesses have about automating payments, with a goal of reducing friction in an increasingly complex global economy.

Taavet Hinrikus turned his startup into the one of the world’s biggest digital-payment firms, giving returns of about 35,000% to early investors including Peter Thiel’s Valar Ventures.

Unlike decentralized cryptocurrencies like Bitcoin and Ether, central bank digital currencies are government-backed digital versions of the local currency.

The digital payment company's stellar pandemic-era account growth has lost its momentum, and the 4.5 million fake users it identified were only part of the problem.

Law enforcement officials want Visa, Mastercard and American Express to help curtail sales of "ghost guns," which are unregistered mail-order firearms that buyers assemble at home.

The Swedish fintech's funding model is likely to be threatened by higher interest rates in the U.S. and Europe.

The U.K. fintech sees itself as a competitor to Block and PayPal's Bitcoin-trading operations, with plans to offer Americans banking services such as a savings account in the near future.

There’s no universal case for central-bank digital currencies, according to International Monetary Fund Managing Director Kristalina Georgieva, who urged policymakers to carefully weigh trade-offs as financial innovation enters a new phase.

Tap to Pay on iPhone turns any of the tech giant's recent smartphones into a card reader, but since Apple doesn't provide its own merchant services, it stops short of becoming a direct threat to acquirers and payment facilitators.

The U.K. financial technology startup GoCardless raised $312 million in new funding to speed up its expansion in open banking across products and geogrophies.

Borrowing on plastic climbed by $52 billion in the fourth quarter, the New York Fed found, as consumers splurged on holiday shopping and inflation drove up the cost of goods and services. It's the biggest jump in the 22 years the data has been tracked.

PSCU is working with EnaComm to build web and mobile applications for prepaid cards.

The card network joins a growing number of payment-card companies and fintechs providing digital bank accounts.

The $650 million deal would add services for financial institutions seeking a faster path to upgrade their technology.

Stablecoins are unlikely to be the future of payments despite their growing market value in the last two years, according to a Federal Reserve Bank of New York blog post.

Six members of the Senate Banking Committee are asking questions about a flurry of lawsuits against credit card customers. The bank denies that it has resumed using robo-signing.