Payments

Visa, which leans on sports festivals to showcase emerging shopping and checkout features, says contactless transactions from travelers have jumped during the games.

The Bank of England and the Bank for International Settlements have built a gauge to measure stablecoin reserves, and U.K. challenger bank Monzo is offering a bonus interest rate.

The bank technology company has a payments unit but reports most of its revenue comes from sources other than transaction processing.

Monday's market decline has sparked concerns of an economic downturn, calling attention to installment lenders that market to distressed consumers.

The bank doubled down on promises to use legal action if the Consumer Financial Protection Bureau brings an enforcement action against it related to fraud on the Zelle platform, saying in a statement that it would "not hesitate to seek assistance from courts."

A bill from Sens. Richard Blumenthal, D-Conn., and Elizabeth Warren, D-Mass., and companion House legislation from Rep. Maxine Waters, D-Calif., would change the Electronic Fund Transfer Act to guard consumers against losing money in authorized transfers that involve scams

The payment option has grown beyond underbanked consumers. For issuers, a $1 trillion market is at stake.

Afterpay co-founder Nick Molnar will lead a centralized sales structure, part of a larger organizational change as the firm battles firms like PayPal and Stripe to reach merchants.

The Federal Reserve chair said Fed researchers continue to explore central bank digital currencies to stay current on international payments developments, but emphatically denied that the central bank is considering creating one of its own.

The London challenger bank has added deposits in an effort to keep customers from using banks and other fintechs; the Australian bank Westpac is offering cards to kids as young as 8; and more in our global payments and fintech roundup.

CEO Michael Miebach told analysts that a court's dismissal of an earlier agreement on interchange charges is disappointing, and he hopes to avoid a trial.

Instances of check fraud have ballooned in recent years, plaguing banks, and they don't seem to be slowing down. Probably the best thing regulators can do to combat that fraud is to develop an equally inexpensive alternative that is more secure, and FedNow might be that service.

CEO Alex Chriss contends the payments company can get a boost from greater access to mobile payment technology while competing against the technology giant on other fronts.

New funding would increase valuations for both firms, reversing a slump that has impacted the entire industry for the past two years.

The store-branded credit card company revised its revenue guidance upward on the assumption that the CFPB's late-fee cap won't take effect before 2025. Still, Bread is moving ahead with plans to make up some of the revenue that it stands to lose from the contested rule.

As a senator, the likely Democratic nominee for President championed an agency that did early work on payment technology, setting the stage for a central bank digital currency.

The big box retailer's move comes amid a broader decline for the traditional payment option.

The payments company is pulling Cash out of the U.K. as it tries to expand the peer-to-peer app in the U.S.; firms in Hong Kong and Australia try to make stablecoin transactions global; and more.

Sen. Richard Blumethal, D-Conn., chair of the Senate Permanent Subcommittee on Investigation, asked bankers whether the Electronic Funds Transfer Act should be updated to include scams that involve authorized fund transfers.

A federal judge recently rejected an agreement on transaction fees, ensuring that a multi-year battle between the credit card companies and merchants will continue. Ryan McInerney vented during Tuesday's earnings call.