Payments

As U.S. credit card balances continue to march above $1 trillion, the number of newly delinquent credit card users now exceeds the pre-pandemic average and millennials and those with student or auto loans are driving the increase in past-due payments, the New York Fed said.

Meta, Apple, Alphabet and other companies that offer digital wallets and payment apps would fall under U.S. Consumer Financial Protection Bureau supervision under a newly proposed rule aimed at treating nonbanks more like traditional counterparts.

After three decades of relying on large retailers like Macy's to promote its private-label credit services, the bank is taking its point-of-sale financing to smaller merchants via platforms like Shopify.

Five years after going public, with growth slowing and the stock trounced, losing 57% in just the last three months, investors are demanding a clear blueprint for how Adyen can get its mojo back.

NCR Atleos and Diebold Nixdorf are signing deals that grant access to other industries and regions where there's demand for self-serve cash access — with additions such as artificial intelligence and better security.

Amazon, Apple, Meta, Alphabet and X have all been ramping up their ability to offer payments services, loans and other traditional bank products.

Amazon's buy now/pay later partnership with Affirm expands; NAFCU-CUNA merger gets affirmative vote from members; expense-reporting firm Navan rolls out European bank partnerships; and more in the weekly banking news roundup.

Taking the reins again as chief executive of Block following the recent departure of CEO Alyssa Henry, Jack Dorsey has launched internal changes to jump-start growth, eliminate silos and promote the use of artificial intelligence.

Companies such as Visa and Mastercard, as well as banks and retailers, are stepping up their investments in artificial intelligence to reach small businesses and spot new uses.