Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.

To help historic restaurants facing dramatic losses when COVID struck, American Express rolled out grants to 25 needy restaurateurs. Four years later, the program is reaching twice as many establishments and the card network's investment has more than doubled.

A digital-payment trend that began during the COVID pandemic is being bolstered by features such as rewards and state ID storage.

The credit and debit card-issuing giant's Chase Media Solutions will help fund new loyalty programs to offset downward pressure on card-swipe fees and the potential erosion of card spending volume from the rise of faster payments and open banking, experts say.

Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.

Ambitious women who feel trapped in their roles sometimes find themselves competing against others with the same goals. An effective way to advance may require stepping off the most obvious path, according to executives sharing their personal experiences at American Banker's Payments Forum.

The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.

Amazon is working with Stripe to expand its Just Walk Out retail stores in Australia and Canada; Safaricom is working with Onafriq to support remittances sent via M-Pesa to Ethiopia; and more.

A new crop of AI-powered products from Visa tackles scams beyond the company's network to include account-to-account payments and digital wallets.