Visa shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information https://t.co/KBr4Wnacro ...

Delray Beach, FL, Aug. 22, 2025 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, the Open Banking Solutions Market size is expected to grow from USD 5.5 billion in 2023 to USD 11.7 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period. It is noticed that consumers increasingly prefer mobile apps for banking transactions that facilitate seamless fund transfers, bill payments, and account management, web portals that in the current era serve as comprehensive platforms ...

Core Insights - eBay has introduced new seller tools and an open banking-powered financing solution aimed at enhancing seller experience and efficiency [1][6] Group 1: New Seller Tools - The new tools for U.S. sellers include an AI assistant for messaging that drafts suggested replies based on listing descriptions and order details [2] - An Inventory Mapping API has been introduced to optimize titles and descriptions for seller items using AI [2] - Additional features include an Offers in Messaging tool for negotiation, a "Your cost" field for pricing inventory, enhanced protections for items not received, and automated feedback for sellers using tracked services [4] Group 2: AI Integration and Impact - eBay emphasized its focus on innovation through AI to make selling smarter and more efficient while prioritizing community feedback [5] - AI tools launched in 2024 have assisted sellers in generating product listings, enhancing images, and automating social media posts, while also improving buyer shopping experiences and employee productivity [6] Group 3: Open Banking and Financing Solutions - The integration of open banking into eBay's Seller Capital program facilitates easier access to working capital for sellers [6] - By sharing real-time cash flow and financial data, sellers enable eBay's lending partners to make more informed lending decisions [7] - This approach reduces administrative burdens for sellers applying for financing and allows for faster, more competitive financing offers [8]

The CFPB is meeting with stakeholders interested in shaping a revamped open banking rule and appears open to letting lenders charge for access to customer data, sources say https://t.co/fI2rSrd4gH ...

Financial Data and Key Metrics Changes - The company reported net revenue of $10.2 billion, an increase of 14% year over year, and EPS rose by 23% year over year [6][35] - Overall payments volume grew by 8% year over year in constant dollars, with U.S. payment volume increasing by 7% and international payments volume by 10% [6][35] - Cross-border volume, excluding intra-Europe, rose by 11% in constant dollars, and processed transactions grew by 10% year over year [6][35] Business Line Data and Key Metrics Changes - Consumer payments revenue was driven by strong payments volume, cross-border volume, and processed transaction growth [42] - Commercial and money movement solutions revenue grew by 13% year over year in constant dollars, with Visa Direct transactions increasing by 25% [42] - Value-added services revenue reached $2.8 billion, growing by 26% year over year in constant dollars, driven by strength across all portfolios [43][25] Market Data and Key Metrics Changes - Total international payments volume increased by 10% year over year, consistent with Q2 when adjusted for leap year [35] - U.S. payments volume growth was generally consistent with Q2, with e-commerce growing faster than face-to-face spend [36] - Cross-border volume growth remained strong and above pre-COVID levels, despite impacts from currency weakness and travel to specific countries [32] Company Strategy and Development Direction - The company is focused on advancing its product developments in areas such as AI and stablecoins, aiming to lead in consumer payments, commercial solutions, and money movement [8][21] - Visa is enhancing its digital future through innovations like Visa Intelligent Commerce and the Flex credential, which targets various use cases [12][9] - The company is committed to expanding its stablecoin capabilities, seeing product market fit in emerging markets and cross-border money movement [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of consumer spending and the company's ability to capture significant opportunities ahead [32][49] - The company anticipates strong growth in Q4, with adjusted net revenue expectations remaining unchanged in the high single digits to low double digits [47][49] - The strength and diversity of Visa's business model are expected to drive long-term growth, even amid changing economic conditions [49][49] Other Important Information - Operating expenses grew by 13%, higher than expected due to lower FX benefits and increased personnel costs [44] - The company issued €3.5 billion of fixed-rate senior notes and repurchased approximately $4.8 billion in stock during the quarter [44] - Visa's total credentials increased by 7% year over year, with over 50% of e-commerce transactions now tokenized globally [9] Q&A Session Summary Question: Follow-up on the fourth quarter guide - Management indicated that Q4 is expected to be fundamentally strong, with resilient consumer spending and normalization of one-time impacts from the previous year [52][54] Question: Investment priorities and operating expenses - Management confirmed that investment priorities remain unchanged, focusing on a rich product pipeline, while Q3 operating expenses were higher due to FX benefits and personnel costs [62][66] Question: Spread between international transaction fees and nominal cross-border volume - Management explained that higher currency volatility, hedging losses, and mix impacts contributed to the spread dynamics, with U.S. inbound travel affecting yields [70][74] Question: Visa Direct's growth and pricing dynamics - Management highlighted Visa Direct's significant growth and its role as a cross-border money movement platform, with pricing strategies varying by region and use case [78][86] Question: Expectations for fiscal 2026 - Management expressed confidence in the growth opportunities across its three engines and indicated that more details would be provided in the next earnings call [90][96] Question: Role of stablecoins in remittances - Management discussed the potential of stablecoins to enable faster and cheaper cross-border transactions, benefiting both end users and clients [99][102] Question: Growth in advisory services related to stablecoins - Management confirmed strong growth in advisory services, particularly around stablecoins, and emphasized the importance of their consulting capabilities in this area [105][107] Question: Incentives for Q4 and fiscal 2026 - Management noted that Q4 is expected to see the highest growth in incentives, with no changes to the adjusted net revenue guidance [110][111]

⚡️ LATEST: Tyler Winklevoss says JPMorgan paused Gemini’s re-onboarding after his tweet criticizing the bank’s stance on open banking.“We’ll call out anti-competitive behavior targeting fintech and crypto.” https://t.co/LzmxTTqVVe ...

Core Insights - The report titled "US Cards and Payments: Opportunities and Risks to 2029" provides a comprehensive analysis of the US cards and payments industry, focusing on market trends, performance indicators, and competitive landscape [1][5]. Market Overview - The US cards and payments industry is characterized by a highly developed ecommerce market, second only to China, with significant growth opportunities driven by innovations such as mobile-only ecommerce platforms and livestream ecommerce [7]. - As of 2023, 33% of Americans used digital wallets, an increase from 25% in 2022, indicating a growing acceptance and usage of digital payment methods [7]. Payment Instruments - The report includes detailed insights into various payment instruments such as debit, credit, and charge cards, as well as alternative payment methods [5][7]. - It highlights the increasing use of banking mobile apps, with 40% of consumers utilizing them in the last 12 months, up from 37% in 2022 [7]. Competitive Landscape - The report analyzes the competitive landscape of the US cards and payments industry, detailing market shares of issuers and schemes, and strategies adopted by banks and institutions to market their card products [2][3][5]. Regulatory Environment - The report covers regulatory policies and recent changes in the regulatory structure affecting the US cards and payments industry, which are crucial for understanding market dynamics [3][5]. Consumer Behavior - Insights into consumer attitudes and buying preferences for cards are provided, with a notable trend among Generation Z and millennials favoring mobile payments [7]. Payment Innovations - The report discusses innovations in payment technologies, including Mastercard's open banking tool, Connect Plus, which is expected to enhance secure financial data sharing [7]. Ecommerce Payments - The analysis includes a focus on ecommerce payments, reflecting the growing trend of online shopping and the integration of payment solutions within ecommerce platforms [5][7]. Future Projections - The report provides current and forecast values for each market segment within the US cards and payments industry, indicating a positive growth trajectory [5][7].

Core Insights - JPMorgan's second-quarter earnings exceeded expectations, with revenues at $44.9 billion, despite a 10% decrease compared to the previous year, indicating resilience against tariff impacts [4] - CEO Jamie Dimon emphasized the importance of open banking and digital assets, including JPM Coin and stablecoins, as key growth areas for the bank [3][9] - The bank's consumer and commercial clients are in strong financial condition, with stable credit metrics and a slight increase in loans [2][5] Financial Performance - Revenues for the second quarter were reported at $44.9 billion, which was 10% lower year-over-year but still above expectations [4] - Consumer and community banking loans increased by 1% to $576.1 billion, while debit and card sales volumes rose by 7% to $487.2 billion [5] - Active mobile customers grew by 8% to 59.9 million, reflecting a positive trend in digital engagement [5] Regulatory Environment - Dimon called for regulators to simplify the financial system, suggesting that recent banking failures could have been avoided with better regulatory clarity [7] - He highlighted the decline in public companies and the need for regulators to define their goals for public versus private markets [7] Digital Assets and Open Banking - The bank is committed to exploring digital holdings and stablecoins, with Dimon acknowledging the competitive landscape posed by FinTechs [3][9] - Dimon discussed the potential for charging fees for data access in open banking, emphasizing the costs associated with setting up secure systems [10] - He advocated for consumer rights in data sharing, stressing the importance of liability clarity when third parties are involved [10]

Core Viewpoint - PayPoint Plc has demonstrated a resilient financial performance for the year ended 31 March 2025, making significant progress towards achieving its target of £100 million EBITDA by the end of FY26, while also establishing new growth targets for the next three years [3][20][44]. Group Financial Highlights - Revenue increased by 1.4% to £310.7 million from £306.4 million in FY24 [2] - Net revenue rose by 3.7% to £187.7 million compared to £181.0 million in FY24 [2] - Underlying EBITDA grew by 10.7% to £90.0 million from £81.3 million in FY24 [2] - Underlying profit before tax increased by 10.2% to £68.0 million from £61.7 million in FY24 [2] - Profit before tax decreased by 45.4% to £26.3 million from £48.2 million in FY24, impacted by adjusting items [2] - Net corporate debt rose by 44.2% to £97.4 million from £67.5 million in FY24 [2] Strategic Outlook - The company aims for net revenue growth of 5% to 8% per annum through FY28, supported by a robust business mix and growth opportunities [4][20] - An organizational framework will be established to enhance automation and agility in operations [4][21] - A share buyback program will be enhanced to return at least £30 million per annum to shareholders until the end of March 2028, targeting a reduction of at least 20% of issued share capital [4][8][22] Business Division Highlights - The Shopping division's net revenue increased by 1.2% to £65.2 million [10] - E-commerce division net revenue surged by 39.0% to £16.4 million [14] - Payments & Banking division net revenue grew by 1.7% to £54.4 million [14] - Love2shop division net revenue increased by 0.8% to £51.7 million [15] Key Performance Indicators - Underlying EBITDA reached £90.0 million, up from £81.3 million in FY24 [48] - Underlying profit before tax was £68.0 million, compared to £61.7 million in FY24 [48] - Diluted underlying earnings per share increased to 69.1 pence from 62.6 pence in FY24 [48] - Net corporate debt stood at £97.4 million, up from £67.5 million in FY24 [48]

Group 1 - Mastercard has partnered with British FinTech Cardstream to enhance open banking payments in the UK, allowing Cardstream to strengthen its Payment Facilitation-as-a-Service (PFaaS) platform [1][2] - The collaboration enables acquirers, payment facilitators, and channels using Cardstream to offer merchants the option to accept open banking payments alongside traditional payment methods [2][3] - The new solution supports single immediate payments (SIP) and prepares for commercial variable recurring payments, expected to roll out across Europe by late 2025 [3][4] Group 2 - The open banking market in Europe is anticipated to experience significant growth, with the partnership occurring at a time when open banking payments remain largely untapped [4] - A report indicates that proper incentives, such as discounts and cash-back offers, could drive consumer adoption of pay by bank services [5][6] - Research shows a notable awareness gap, with 56% of consumers unfamiliar with pay by bank, but incentives can increase interest by 72% when cash-back discounts or loyalty benefits are offered [6][7]