Visa saw overseas spending on the firm's cards unexpectedly rise in the first three months of the year, as the payments giant benefited from an increase in global travel.
Ryan McInerney said Visa's debit volume has remained steady in the U.K., which has had real-time payments since 2008, and it sees the Fed's instant settlement option as a potential ally,
The card network has a new policy to determine who pays when consumers dispute certain e-commerce transactions, but many smaller sellers are unaware of new requirements and may run afoul of them.
Federal officials should have protected both banks' uninsured depositors by following the law's carefully designed framework for dealing with failures of systemically important banks.
U.S. consumers may earn 3.92% interest on their account balances, with the choice to add pass-through Federal Deposit Insurance Corp. coverage through JPMorgan Chase for up to $250,000 of funds.
Financial institutions and their trade groups fear a loss of funding for loans if customers migrate in large numbers to a central bank digital currency, according to comments to the Federal Reserve about a possible digital dollar. Industry officials are also worried about heightened cybersecurity and money laundering risks.
The U.K. payment firm recently paired with the small-business technology firm Bluevine, part of a growing network of collaborations to compete in the crowded international transfer market and cut out correspondent banks.