Visa is cutting about 2,600 jobs, or 7% of its workforce, primarily from its technology and product teams, Bloomberg reported Tuesday (July 28), citing a staff memo from Visa CEO Ryan McInerney. The company is making the cuts to reinvest in consumer payments, commercial and...
Ant International’s unified wallet gateway, Alipay+, has added its first banking partner in Hong Kong, Hang Seng Bank. This addition enables the users of Hang Seng’s mobile app to make payments via QR code scan at more than 100 million merchants across 55 countries and...
Mastercard has added new security controls, single application programming interface (API) access, and expanded embedded payments capabilities to its virtual card number platform, Mastercard In Control. Together, these new features help enterprises and financial institutions manage virtual card programs with greater security, visibility and scale, the company...
Spanish banks are reportedly offering a new bank-to-bank in-store payment system, challenging American payment systems. That’s according to a report Wednesday (July 22) from Bloomberg News on the efforts of Bizum, a consortium of 30-plus banks in Spain. The group has just introduced Bizum Pay, which lets consumers...
Stablecoins were supposed to make payment networks less necessary. Visa’s new stablecoin platform, introduced Thursday (July 16), suggests a different outcome. The move comes on the heels of Visa’s June announcement that it had joined a 140-plus member Open Standard consortium to launch Open USD...
Mastercard has introduced a set of software tools and services designed to make it easier for companies to create digital wallet capabilities on both iOS and Android and add contactless payments to their apps. The new Mastercard Wallet Services is designed for banks, FinTechs, merchants and digital platforms. It is...
Fraudsters and privacy-conscious consumers have one thing in common. Neither wants to be easily found. For years, that overlap didn’t matter much. Privacy-minded consumers wanted to limit their data exposure and control how merchants stored their credentials. Fraudsters wanted to hide stolen identities and card...
Mastercard is reportedly considering a sale of its U.K. retail payments business Vocalink. That’s according to a report Monday (July 13) from the Financial Times (FT), which says this move comes as Mastercard fields concerns about a “strategically critical” asset being under American ownership. These...
European FinTech ZEN.COM has expanded its financial platform to include Mastercard Click to Pay. This feature joins a platform that already includes multicurrency accounts, foreign exchange, instant cashback, purchase protection and everyday payments, ZEN.COM said in a Friday (July 3) press release. The integration of...