Payments

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.

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.

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.