Payments

While it's moving away from embedding transactions in ChatGPT to funneling purchases through third parties, analysts say the artificial intelligence lab's shift doesn't dilute the threat large language models pose to traditional card issuers.

The Federal Reserve's recently published request for information on options for updating its check clearing apparatus has bankers fearing that it will opt to phase out paper checks entirely — an outcome that has community banks panicked.

Payment experts detail where banks are going wrong with charge-backs and how they can improve.

David Szuchman, PayPal's top cop, leverages his background in law enforcement, including years in the Manhattan district attorney's office, to help the fintech fight against payment crooks.

Megan Ryan joins American Banker from the Chicago Fed, bringing insights on the payments industry exclusively for subscribers.

The Saginaw, Michigan-based credit union brought its credit card program back in-house to capture more member spending and gain added control over customer relationships. Previously, its credit card program was managed by a third-party vendor.

The payments fintech's Nasdaq debut marks the largest U.S. listing by a Japanese company in a decade and had a strong start despite market turmoil caused by the Iran war.

The bank-owned instant payment network has added a new use for its seldom-mentioned disbursement business.

Noelle Acheson argues that banks' focus on deposit tokens rather than stablecoins is a clear example of the "innovator's dilemma" at work: few economic incentives to embrace the innovation happening at the periphery.

The card network hopes to increase revenue from non-card payments and is tapping two major technology trends.

Cameron Bready, the firm's CEO, noted the company's clients include 12 large Middle Eastern airlines, and the closed airspace "isn't ideal."

The bank is partnering with a French software company to upgrade its usage of the emerging forms of artificial intelligence. Plus, Ripple plans to buy a local payment company to secure a license in Australia, and more in American Banker's global payments and fintech roundup.

Kraken Financial's receipt of a limited Federal Reserve master account is leading some industry observers to question whether the approval creates a new avenue for master account-seekers or whether it's a preview of the proposed "skinny" account.

Visa is using AI agents to streamline payment disputes, while Mastercard launched "digital executives" for small businesses.

Cari has lined up five banks so far to support tokenized deposits for transactions such as real-time payments.

The London-based neobank plans to invest $500 million in the U.S. over the next few years amid stiff competition from fintechs, other neobanks and legacy banks.

Fintechs and the technology behind cryptocurrency are becoming popular, putting trillions in transaction value at risk for banks, according to Accenture.

Stripe has expanded its Shared Payment Tokens, a foundational building block to protect agentic commerce, to work with Visa and Mastercard's tokens. It's also added Affirm and Klarna.

Federal Reserve Vice Chair for Supervision Michelle Bowman played down the significance of Kraken Financial receiving a master account, saying the central bank is treating it as a pilot program.