Payments

Bolstered by healthy first-quarter global card-spending trends, Mastercard is focusing on opportunities outside the U.S., including a unique card-processing arrangement beginning this month in China.

The Bank of England set a date of March 2025 for local banks to establish operational resilience plans, Ant Group is using artificial intelligence to aid shopping, and more.

Touting strong first-quarter sales and revenue growth, CEO Alex Chriss committed to rebuilding the firm's languishing Xoom cross-border unit and driving more Pay with Venmo options.

Michigan State University Federal Credit Union is working with the relationship-based lending app Zirtue to offer members a tool for outlining lending agreements and repayment plans.

GLS had already stopped issuing first-use plastic as of 2018, but it wasn't enough for the eco-minded German bank. Fake plastic still looks and feels like plastic.

The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.

To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.

Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.

The payment processing firm said that companies will no longer be locked in to processing payments with Stripe in order to access its other products.

Strong consumer spending and cross-border activity drove an 8% increase in Visa's total payments volume during the first quarter of the year, although Asia's economic recovery is taking longer than expected.

Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.

A new Citizens Bank survey suggests rising check-fraud incidents are driving middle-market companies to accelerate plans to fully adopt digital payments. But 70% of all businesses will continue to rely on checks for years to come, according to recent data from the Association for Financial Professionals.

The bank will use biometric authentication to streamline checkout in stores starting in 2025. It has already completed internal and external pilots of the technology.

New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.

Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.

Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.

FedNow emerges as a key component of our industry's digital transformation, filling the void in our payment infrastructure and paving the way for a new era of banking.

U.S. customers who have previously used Sweden-based Klarna's buy now/pay later financing — and paid off their loans in full — will be prequalified for interest-bearing loans through a new version of the Klarna Visa card rolling out later this year.

Banking Circle US is the first company to use Connecticut's uninsured bank charter for wholesale and merchant activities. This kind of charter makes sense for payments firms, but questions persist about overall viability.