Amex to shrink workforce

The Latest

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  Fiserv taps AI for retail rethink

  Merchants are grappling with how their payments technology will handle artificial intelligence-fueled digital commerce, a Fiserv executive said.

  Technology

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  Visa changes fees in Canada

  A Canadian trade group has urged card networks to reduce their interchange fees and pass those cost savings on to sellers.

  Retail

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  New payment rails catch on, slowly

  Some companies have yet to realize the full potential of multi-rail systems, speakers said at the Money20/20 conference Monday.

  Technology

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  PayPal isn’t agile enough, CEO says

  As part of his turnaround efforts, Enrique Lores said Monday the digital payments company requires faster decisions and clearer accountability.

  Technology

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  Butter Payments has been sold

  The company was purchased last month, said its former chief executive, Charles Rosenblatt, who noted intensifying competitive pressures.

  B2B

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  Ramp seeks bank charter

  Ramp applied with the Office of the Comptroller of the Currency for a national trust bank charter on Friday.

  Banking

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  Utah forms digital ID consortium

  The state is using its digital identity law as a model for having individuals, not governments, control their personal data, Utah’s chief privacy officer said.

  Regulations & Policy

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  Visa, Mastercard urge court to approve fee settlement

  The card networks contend Walmart and trade groups want to scuttle a legal pact over card swipe fees using recycled arguments the court has rejected.

  Retail

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  Stripe agentic commerce revs up

  The digital payment juggernaut’s agentic commerce activity went “vertical” last month, President John Collison said this week.

  Retail

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  Credit card debt ticks up

  Consumers have been grappling with rising credit card interest rates and ballooning balances in the past few years, a recent Fed survey found.

  Consumer Risk

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  Opinion

  Congress should examine EWA bill

  “Combining employer-integrated solutions and direct-to-consumer products under a single, relaxed standard weakens consumer safety,” writes an industry executive.

  Regulations & Policy

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  Fiserv ‘reset’ bolsters case, litigants say

  The processing giant has no basis for a shareholder lawsuit to be dismissed, given its own comments, investors suing the company told a judge this week.

  Technology

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  Q&A

  JPMorgan rounds up partners

  The biggest U.S. bank has been collecting payments partners to better integrate software and keep up with industry trends, among other purposes.

  Banking

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  Businesses view stablecoins warily

  Despite the hype surrounding the digital assets, businesses remain cool to using the cryptocurrency, according to the results of a Cleveland Federal Reserve survey.

  Regulations & Policy

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  Upgrade applies for ILC charter

  The decade-old credit-card startup named a SoFi alum and longtime regulator as CEO of its proposed bank.

  Banking

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  Stablecoin startups advance payments

  Entrepreneurs embracing the digital assets are pushing payments modernization forward, and bringing incumbents along too.

  Technology

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  Visa moves ahead in China

  The card network giant said it won approval from the Chinese government to begin preparing to offer card services domestically in the country.

  Banking

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  Fed names new payments chief

  Federal Reserve Financial Services tapped Kim Robbins to succeed Mark Gould starting in November.

  Banking

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  Visa-Mastercard payouts top $631M

  The tally of merchants receiving funds from a $5.5 billion settlement with the networks is nearing 700,000, according to a claims update.

  B2B

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  Amex dinged by Fed, OCC

  American Express must pay a $350 million penalty after regulators cited “significant deficiencies” in its anti-money laundering program.

  Regulations & Policy

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  Block envisions bitcoin for all

  The company’s head of bitcoin, Miles Suter, has two big tasks: Make bitcoin a routine payment tool and change the global financial system.

  Technology

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  Opinion

  How agentic payments present risk

  “There's no clear legal rule for who bears the loss when an AI tool exceeds its mandate,” writes one financial services consultant. “That's a problem for issuers as they contemplate making credentials available to AI tools.”

  Banking

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  Treasury taps data to fend off fraud

  The U.S. department has increased its scrutiny of payments using new sources of data in an attempt to stem past ‘pay and chase’ patterns.

  Banking

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  Amex advises businesses on AI

  As consumers start using artificial intelligence to comparison shop, American Express aims to guide merchants in using the new technology.

  Retail

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  Payments conferences for 2027

  Real-time payments, stablecoins and AI use cases are expected to be among the hot topics at next year’s industry events.

  Retail

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