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The bank is enabling early access to direct deposits, an alternative to earned wage access products that are becoming more popular with economic stress on the rise.
A New Hampshire bank recently rolled out the nation's first biodegradable debit cards, Bank of America next year will begin making all credit and debit cards more environmentally friendly and one of the biggest global card manufacturers vows to eliminate all traditional plastic cards by 2030.
Amex affirmed its full-year guidance, though it is also monitoring for changes in consumer behavior.
Small businesses are finding that tap-on-phone apps — which allow smartphones to accept contactless payments without additional hardware — are solving some long-standing pain points.
Facing greater competition from fintechs and an increasingly global economy, BofA has improved its business-to-business capabilities with open banking, 24/7 processing, support for the euro and other features.