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- The shares of Visa Inc. and Mastercard Inc. reached all-time highs Wednesday following a report from The Wall Street Journal that the two major card networks plan to raise interchange and network fees in October and April. Visa closed at $246.23 per share, and Mastercard at $413.91. The networks have historically introduced new pricing in those months.
- The state of Massachusetts has chosen government-payments specialist PayIt to provide the state’s digital-payments technology.
- Vic.ai, a provider of financial platforms based on artificial intelligence, launched Vic.ai Payments, aimed at accounts-payable departments.
- Buy now, pay later specialist Klarna AB posted an operating loss of $185 million for the six months ended in June, smaller than the prior-year period, and noted the company has achieved monthly profitability. Klarna has not posted a yearly profit since 2018.
- Amazon.com Inc. launched its Buy with Prime for Shopify app, an integration aimed at enabling merchants to offer the Buy with Prime option on their Shopify stores.
- Uplinq Financial Technologies announced an agreement with Visa Inc. under which the card network will introduce Uplinq’s credit-decisioning technology to “key” financial institutions.
- The international money-transfer system Swift said its experiments have shown its technology can transfer tokenized value across a variety of public and private blockchains, demonstrating the potential for interoperability between blockchains with differing functionality and liquidity profiles.
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