Payments

Noelle Acheson writes that new blockchains from Circle and Stripe are about more than customization and control over the features. They're about redistributing power across the payments landscape

The Swedish financial institution will sell future buy now/pay later originations to Nelnet. Also, RBC and BMO may sell their payments joint venture; and other news in the global payments and fintech roundup.

The Ohio bank bought DTS Connex to expand its cash management services for businesses with multiple locations, like retailers, restaurants and health care providers.

The card brand is partnering with Adyen, Worldpay and other processors to expand Click to Pay, a simplified e-commerce authentication and processing tool.

The Consumer Financial Protection Bureau dropped an investigation into Credova Financial, a buy now/pay later lender focused on gun financing and subsidiary of PSQ Holdings, where Donald Trump Jr. serves on the board.

In Brazil, QR codes have been powering Pix, the country's instant payment scheme, for years. Two fintechs are hoping that connecting QR codes to instant payment schemes such as FedNow will help drive uptake for instant account-to-account payments.

The firm, which is relaunching its signature payment system, gets a branding opportunity and a testing ground in dozens of stadiums and arenas.

The digital bank is working with blockchain technology provider Lightspark to use Bitcoin networks to power its upcoming cross-border payments launch.

Brex's second license in the European Union is a key step in cementing turning payment relationships in the EU into broader financial relationships, including card issuing and cross-selling.

The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.

Pressure on Asian merchants that sell to the U.S. caused the Dutch payment company to reduce its outlook. Payment experts say it's a matter of time before other firms face the same challenges.

Paying for items with your palm or face isn't commonplace yet, but it's coming. What banks need to know.

Stablecoin issuers often use Treasury bills as backing reserves. That could put pressure on other parts of the financial system if the industry continues at its current growth trajectory.

Citigroup's new treasury partnership with Payoneer and JPMorganChase's deposit token are pressuring banks to quickly come up with a "vision," according to payment experts.

The payment company is collaborating with Brazil's national real-time payment network to reach more e-commerce merchants, while adding Affirm as an option to its in-store point of sale system. That, and more in the American Banker global payments and fintech roundup.

The lender, which uses existing credit balances to fund installment loans, has linked to Samsung Pay and plans other partnerships in the future to build a global merchant network.

Affirm and FICO earlier this year took the first steps to incorporate buy now/pay later loans into consumer's credit reports. But it will be some time before lenders start making credit decisions based on the short-term installments, even if holdouts like Afterpay and Klarna decide to report to the credit bureaus.

Analysts said trade war-related issues are pressuring the U.S./Mexico remittance corridor, lowering the value of the acquisition. Devin McGranahan told American Banker Intermex's technology and footprint provide a path for future expansion.

As the payment technology company diversifies revenue streams, buy now/pay later was a key driver in beating analysts' estimates for Marqeta's second-quarter earnings.

The payment company increased its financial outlook, partly on the shoulders of new forms of artificial intelligence, such as "codename goose" that are making it possible to update products faster.