Payments

President Trump in Davos, Switzerland, talked about his call for lower credit card interest rates and more affordable housing in a lengthy speech that mostly focused on his plan to take over Greenland.

The payment company is betting on agentic commerce to get its checkout tech in front of more merchants and consumers.

As artificial intelligence agents play an increasingly large role in enterprise finance, traditional credit card rails will be incapable of handling the speed and volume of transactions. Something new is needed.

Cryptocurrency has traditionally been an investment product more than a way to make purchases, but fintechs are betting there's a future for digital assets at the point of sale.

The payments firm is hoping that planting a flag in merchant stablecoin payments now will be accretive as stablecoins gain greater adoption.

White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue "Trump cards" with 10% rate caps, a move that could quell Congress' moves to impose a cap through legislation — but that's no guarantee.

Merchant groups are not taking a position on President Donald Trump's threats to cap interest rates, but they are bullish on the president's endorsement of the Credit Card Competition Act.

Bilt's new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.

Rep. Bryan Steil, R-Wis, and Rep. Ritchie Torres, D-NY, introduced a federal earned wage access bill that would prevent EWA from being classified as credit and preempt any state from designating it as such.

The Swedish financial institution adds P2P payments as it tries to bolster its neobank aspirations. Payment firms don't like the U.K.'s potential restrictions on stablecoins and more in the American Banker global payments and fintech roundup.

A week after President Trump demanded a 10% cap on credit card interest rates, top executives at big banks protested the idea in blunt terms.

Customers reported failed subscription payments and support issues, though a backup system kept some basic functionality online.

The heads of two associations representing military-serving financial institutions argue that the Credit Card Competition Act, as well as the president's demand for credit card rate cuts, would harm troops by reducing access to credit.

The $24.3 billion acquisition and $13.5 billion divestiture deal enables Global Payments to focus more on its core payments technology.

Top executives at the nation's largest bank spoke Tuesday about shifting dynamics in the credit card business, Federal Reserve independence, the bank's plan to increase spending in 2026 and its large portfolio of loans to nonbank financial institutions.

President Donald Trump said that lawmakers should support legislation that would require credit cards issued by most large banks to offer merchants the choice between two unaffiliated card networks, one of which cannot be Visa or Mastercard.

The largest bank in the country bulked up its reserves by $2.2 billion for potential credit hits from the Apple card portfolio, which JPMorgan is taking over from Goldman Sachs.

The U.K. payments processor announced its acquisition of an alternative merchant acquirer license from the state of Georgia as part of its U.S. expansion.

Analysts say credit card companies could face a major hit to earnings, while banks would also be under pressure.

The American Bankers Association and other groups contend the president's plan to cap credit card interest rates at 10% would drive consumers toward less regulated, more costly alternatives.