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- American Express Co. said it and Goldman Sachs Transaction Banking are collaborating on a cloud-based payments service for large corporate clients. AmEx’s virtual cards will be available in the Goldman Sachs TxB platform, which already offers automated clearing house, wire, and foreign currency payments.
- A study from Alliance Data Systems Corp. indicates 27% of GenZ consumers were turned down when they applied for a first credit card, a rate two times greater than has been true for previous generations. Some 10% would use a buy now, pay later option for a $500 purchase.
- POSaBIT Systems Corp., a payments-technology provider specializing in the cannabis industry, launched the POSaBIT Kiosk, which allows consumers to choose products and pay for them with a debit card.
- Financial app Revolut issued some updates that include free out-of-network ATM withdrawals up to $1,200, 10 remittance payments, and commission-free cryptocurrency trading up to $200,000 per month for U.S. consumers.
- Mastercard Inc. closed on its previously announced acquisition of cryptocurrency-intelligence firm CipherTrace.
- Norwegian Cruise Line Holdings Ltd. has chosen Worldpay, a unit of FIS Inc., as a preferred payments-processing provider. The move comes as vacation travel begins to rebound, according to the cruise line.
- The Orchard, a music-distribution company, said it will work with money-transfer provider Wise (formerly TransferWise) to streamline payments from music labels to artists across the world.
- Square Inc. said it has launched its Square Marketing and Square Loyalty features in the United Kingdom.
- Shazam Inc., a provider of electronic funds transfer networking for debit card transactions and core banking services for financial institutions, said it has chosen Arroweye Solutions as a third-party provider of credit and debit cards to the more than 1,100 bank, credit union, and fintech companies that Shazam serves.
- The big processor Worldline said it is working with Chargebee Inc., a subscription-billing provider, to develop a payments, subscription, and revenue-operations technology for merchants using the subscription-payment model.
- The Diem Association issued a statement to clarify that the organization is not related to Facebook Inc. and that Facebook’s Novi e-currency wallet is one of more than two dozen members of the Diem Association. The statement responds to a letter regarding Diem issued by Congress. Diem is the successor organization to Libra, a digital-currency project spearheaded by Facebook and involving other major corporations.
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