Page 2 - Intrepid Ventures News Today

Russian banks are reportedly courting the Chinese payment network to overcome the loss of Visa and Mastercard. The strategy would test China's willingness to provoke a response from the international community.

The card brands have blocked large Russian banks from their networks in response to the Ukraine invasion, a move that may dramatically curtail retail transactions, ATMs and e-commerce.

U.K. Prime Minister Boris Johnson is among the world leaders pushing for a ban, and U.S. President Biden was grilled about the possibility during a press conference where he announced sanctions in response to Russia's military action in Ukraine.

The money transmitter's $1.8 billion acquisition by Madison Dearborn Partners removes the need to appease investors on a quarterly basis, freeing up the company to invest in a long-term transformation of its technology.

Meta's departure from the crypto market removes a sizable potential competitor at the same time that nonbank issuers are bracing for tougher regulatory scrutiny.

JPMorgan Chase's recent purchase of a stake in the Greek fintech will allow the U.S. company to offer new services like merchant credit in Europe, where it is No. 5 among merchant acquirers.

The debut of new mobile wallets ahead of the Winter Olympics in Beijing is an impetus for the Federal Reserve to bring its own central bank digital currency project up to speed.

The United States is threatening to curtail transactions into and out of Russia to discourage it from invading Ukraine. The standoff heightens existing friction between U.S. payments companies and Moscow, which could impose new restrictions on them in response to sanctions.

The card network's new cryptocurrency advisory service aims to help financial institutions catch up with companies like Square and PayPal by spotting opportunities to support stablecoins, nonfungible tokens and central bank digital currencies.

When the social network went down, it took its entire commerce platform with it. The incident adds to recent data management snafus, and raises doubts about whether the company can build enough trust to succeed in financial services, according to technology experts.