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April 22, 2025

On the web

Capital One and Discover Merger Gains Approval in Jawdropping Deal

EMARKETER

"The Capital One and Discover deal received the final regulatory approval and will close on May 18. Combined, the two companies will have $660 billion in assets...What this means: The megadeal will dramatically shake up the payments and banking industries. Capital One will switch some of its cards from Visa’s and Mastercard’s networks to the Discover network. This will shift competitive dynamics."

Fast Payments in Action: Emerging Lessons From Brazil and India

Atlantic Council

"As the rise of instant payment systems transforms the global financial sector, more governments are considering launching their own central bank-led immediate payment systems. Pix and Unified Payments Interface (UPI), Brazil and India’s respective instant payment systems, provide two key lessons for governments interested in implementing new fast or immediate payment systems."

Agentic AI: The Evolution of Autonomous Fraud Detection

Global Banking & Finance Review

"Fraudsters have consistently positioned themselves at the cutting edge of technological innovation. With the recent explosion in AI capabilities—spanning large language models (LLMs), Generative AI, and now Agentic AI—criminal actors are leveraging advanced techniques to create deepfake images, video clones, and voice impersonations that deceive victims into transferring funds. Meanwhile, financial institutions face mounting pressure to evolve their fraud prevention systems beyond traditional rule-based or purely predictive models."

Mastercard: Start Path’s Emerging Fintech Program Welcomes 8 New Startups

Mastercard

"Eight startups join Start Path, Mastercard’s award-winning startup engagement program: LetMePark, UbiRider, Asistobe, it’s electric, Krowd, Bluespine, ipaymy and Dataiera.  As the newest additions to Start Path’s global portfolio — which is comprised of more than 450 startups from over 60 countries — these companies will participate in a dedicated Emerging Fintech program focused on supporting innovation in high-growth sectors of payment technology."

April 21, 2025

Top Post

What Magstripe Card Extinction Means for Banks

American Banker

"By 2029, no new Mastercard credit or debit cards will be issued with a magnetic stripe, according to the card network, and by 2033, Mastercard said magnetic stripes will be gone from circulation, except for prepaid cards in the U.S. and Canada. [Subscription Required]"

On the web

Discover Financial Services Hit With $250 Million Penalty

Investing

"Discover Financial Services, a $40.16 billion financial services giant with a "GREAT" financial health score according to InvestingPro, and its affiliates have been ordered to pay $250 million in civil money penalties, as announced in a recent Securities and Exchange Commission  filing. The orders, dated April 16, 2025, for Discover Bank, and April 18, 2025, for Discover Financial Services and DFS Services LLC, resolve investigations by the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System into a card product misclassification issue previously disclosed by the company."

Amazon Is Trialling a Major New Feature That Could ‘Revolutionise Shopping’

MSN

"Although you can get your hands on almost everything at Amazon, a new feature could see the retailer broadening its horizons even further. Currently being trialled in the US, the ‘buy for me’ button allows customers to browse and purchase items from across the internet – even those Amazon doesn’t sell. When searching for certain products, shoppers will be shown listings from other sites, with the option to buy the latter directly through Amazon."

Payarc, AWS Collaborate to Enhance Payment Processing Operations with AI

Amazon

"Payarc is taking AI-powered payments to the next level, using Amazon Web Services (AWS) to drive unprecedented automation, intelligence, and efficiency across its platforms. By integrating AWS’s advanced AI and analytics, Payarc is delivering real-time insights, predictive churn analytics, and automated workflows that strengthen fraud detection, boost customer retention, and uncover new revenue opportunities."

April 18, 2025

Top Post

Federal Reserve Board Announces Approval of Application by Capital One Financial Corporation To Merge With Discover Financial Services and Issues a Consent Order With Discover

Board of Governors of the Federal Reserve System

"The Federal Reserve Board announced its approval of the application by Capital One Financial Corporation, of McLean, Virginia, to merge with Discover Financial Services, of Riverwoods, Illinois, and thereby indirectly acquire Discover Bank, of Greenwood, Delaware."

On the web

AI in Commercial Banking: Transforming Payment Processing and Beyond

BAI

"Commercial banks have long struggled to balance cost optimization with revenue growth, a challenge particularly evident in payment routing. Generative artificial intelligence (gen AI) and agentic AI present a paradigm shift in how banks can approach payment routing and related processes. Gen AI excels at analyzing historical data from vast amounts of structured and unstructured sources (like audio, images, text) and predicting optimal routes for payments."

ISO 20022: The Future View

Euromoney

"ISO 20022 promises smarter payments, faster reconciliation, and better data. We explore how banks are planning to use the rich and structured data to bring enhancements and new services to their clients."

Gen Z: A New Economic Force

Bank of America Institute

"Despite strong wage growth, high cost of living is weighing on Gen Z, prompting them to spend twice as much as they are saving. Spending growth on necessary and discretionary items among Gen Z has been faster than the overall population, according to Bank of America credit and debit card data. While their bank deposit balances provide a buffer, Gen Z spending was nearly twice as much as they had in savings, possibly as the high cost of living exerts financial pressure."

More Than a Third of Americans Tapped Into Their Emergency Savings Last Year

Banking Exchange

"Over one-third (37%) of Americans dipped into their emergency savings in the past year, with 80% using the funds for essentials, while a growing number are now relying on savings to cover day-to-day expenses, according to a Bankrate survey. The 2025 Annual Emergency Savings Report reveals that 51% of Americans tapped into their emergency savings to cover unexpected expenses, such as medical bills or car repairs."

Adyen Bets on AI and New Pix Features To Increase Online Sales

Finsiders Brasil

"Adyen is closely monitoring the evolution of Pix. The fintech already offers the modality via Open Finance, through the Journey Without Redirection ( JSR ), which debuted at the end of February and it is ready to work with some of its clients in the Automatic Pix pilot, starting on April 28th. In the view of company executives, the new functionality has the potential to include Brazilians who do not have a credit card, as well as reduce costs for businesses in the recurring model."

April 17, 2025

Top Post

On the web

Walmart’s Sam’s Club Drops Self-Checkout, Adds New Anti-Theft Tech

The Street

"Sam's Club is now gearing up to transform its entire checkout process.  After a successful test run in its Texas headquarters, the wholesale grocer will begin to eliminate both cashier-run checkouts and self-checkout kiosks. Sam's Club is going to begin using its new Scan & Go system, which prompts members to scan products using their mobile app and pay for their goods directly there."

Leveraging Tokenisation for Payments and Financial Transactions

bis

"This report by the Consultative Group on Innovation and the Digital Economy (CGIDE) discusses theoretical and real-world use cases of tokenisation, which include initiatives run by the Central Bank of Brazil and the Central Bank of Colombia, and private sector-led initiatives discussed within the CGIDE during 2023-24. In addition to use cases and progress to date, the report also explores some preconditions and other considerations for tokenisation."

America’s Credit Divide Widens: Affluent Borrowers Rise While Millions Fall Behind

IBS Intelligence

"American consumers are splitting into two financial realities. On one side, a segment of affluent borrowers is securing larger mortgages and rising credit card limits. On the other hand, millions are falling behind, struggling with minimum payments, rising delinquencies, and stagnant credit access. New data from the Federal Reserve Bank of Philadelphia reveals that credit card delinquency rates have surged to record highs."

JP Morgan Launches Blockchain-Based Kinexys Digital Payments in GBP/UK

Ledger Insights

"JP Morgan has launched its blockchain-based bank account service, Kinexys Digital Payments (formerly JPM Coin), in a third currency, GBP. As a result, it can now provide 24/7 support for corporate payments and foreign exchange for dollars, euros, and pounds. The first clients to use the sterling services in London are LSEG’s SwapAgent and commodities trader Trafigura."

Why Payment Orchestration Is Becoming a Necessity

TNGlobal

"In the last few years, digital commerce across the Asia-Pacific (APAC) region has experienced unprecedented growth. The APAC region is a mosaic of highly localized markets—each with its own payment ecosystems, regulations, and consumer behaviors. For example: In Japan, Konbini (convenience store) payments remain common for online purchases. In China, Alipay and WeChat Pay dominate. In Australia, card payments still lead, but digital wallets are catching up fast."

MoneyGram and Plaid Partnership Drives Seamless Global Payments

PR Newswire

"MoneyGram announced a new partnership with Plaid, the data network powering the fintech tools millions of people rely on to lead a healthier financial life. MoneyGram customers in the United States can now use Plaid's technology to help authenticate their bank accounts, enabling fast and secure funding for both domestic and cross-border payments."

April 16, 2025

On the web

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