Payments

As the president's policy changes on a dime, machine learning can quickly alter strategies for compliance, payments and supply-chain management.

Even with its IPO on ice, the Swedish buy now/pay later lender is building a base of high-profile distribution partners.

The credit card issuer trimmed its outlook on revenue and average loan growth, but maintained its target for net loss rates against the backdrop of an otherwise solid quarter. The company also announced a new co-branded credit card with Crypto.com. 

The USDC issuer is trying to connect financial institutions across borders for instant settlement, an industry goal that has proven elusive.

A federal judge in California blocked rules requiring disclosures for payments near the Mexico border; Stripe has added more products as it bolsters investments in Asia; and more in the weekly global roundup.

Sen. Dick Durbin, the Senate's No. 2 Democrat, announced he will not seek reelection in 2026, concluding more than four decades in Congress. The Illinois lawmaker leaves behind a notable imprint on U.S. financial policy, particularly regarding swipe fees.

Capital One outlined some of its to-do items as it integrates with Discover, which include long-haul investments in technology, global marketing and risk management.

Synchrony Financial stands to benefit from the undoing of a Biden-era cap on credit card late fees. Company executives said that Tuesday that they won't be rolling back changes they implemented to compensate for revenue the company would have lost.

The growth of digital payments, coupled with the U.S.'s new open banking framework, may finally move the needle for an alternative form of credit decisioning.

Global Payments' agreement to divest its issuer unit is the latest in a series of changes in a complex ownership strategy.

Both the Federal Reserve and the Office of the Comptroller of the Currency signed off on the $35 billion transaction, which has faced opposition since it was announced last February.

With swipe payments heading toward the exit in a few years, issuers have an opportunity now to prepare.

CEO Stephen Squeri said current strategy will continue, adding it would look to adjust expenses in areas such as marketing if there's an economic downturn.

Companies are planning to spend more on technology and artificial intelligence in 2025 when compared to last year, and AI is a choice area for investments.

As part of the deal, FIS is acquiring Worldpay's credit processing unit.

The Sweden-based payment firm, which recently delayed its IPO due to the trade war, will use Fiserv's Clover point of sale system as it looks to build a market in the U.S. Plus: Payoneer makes a deal in China and other news in this week's global payments roundup.

New York AG Letitia James is suing the earned wage access companies for charging illegal, high-interest loans that would have wide-ranging implications for EWA providers. DailyPay last week filed a countersuit against James's office.

A federal judge in Texas found that the Consumer Financial Protection Bureau had violated the CARD Act by barring banks from charging late fees for credit cards.

Experts say transaction growth is OK now, but the next year will be fraught with risk.

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