POS and Retail

The pending law, which has passed the Assembly and Senate, prohibits food and retail stores from refusing to accept cash payments. Cashless establishments have been prohibited in New York City since 2020.

Prepaid cards are finding new use cases in the hospitality industry, where tip disbursements have traditionally been cumbersome.

The technology company is using its marketing and commerce platform BentoBox to improve diners' experience, even as analysts question the growth of its signature Clover system amid a crowded market for point of sale services.

The payment company's restructured Genius point of sale system is designed to cover all types of merchants to keep them away from other processors and fintechs.

Even with its IPO on ice, the Swedish buy now/pay later lender is building a base of high-profile distribution partners.

The Bank of Lithuania contends the U.S. fintech broke anti-money-laundering rules; while British contactless payments hit a record. That and more in the American Banker global payments roundup.

The bank has added Affirm as an option, after adding the fintech's rival Klarna to its merchant network in February.

The account-to-account payment method has become prevalent in countries such as China, India and Brazil, but adoption has been slow in the U.S. and limited to small- and medium-sized businesses. That paradigm is expected to shift amid continued fintech investment.

Improved consumer confidence helped to drive greater use of buy now/pay later as younger generations turned to short-term installment options.

The buy now/pay later company beat analysts' expectations on revenue, net income and earnings per share as it issued new guidance for the end of its next fiscal year. Its stock was up as much as 31%.