Visa says the deal will enable the credit card company to significantly expand its use of tokenization to 'all types of transactions beyond Visa cards, including those on domestic card networks, account-based and real-time payments systems.'
Federal Reserve officials last week scrapped a pledge to be 'patient'' when deciding whether to cut U.S. interest rates to ward off an economic downturn. The move was seen as inching the Fed closer to a possible reduction in July. But Robert Kaplan, president of the central bank's Dallas branch, argues in a new essay that 'additional time' is needed to evaluate whether to make any changes in monetary policy.
Synchrony, the bank spun off from General Electric in 2014, has posted impressive asset growth and profitability in recent years. But some investors are leery of the stock because of the potential for steep losses if the U.S. economy takes a turn for the worse.
Shares of PayPal slip on news that Chief Operating Officer Bill Ready will be leaving the company at the end of the year 'to pursue entrepreneurial interests outside the company.'
Shares of MoneyGram soar after blockchain startup Ripple, the company behind the XRP cryptocurrency, says it plans to invest up to $50 million in the company.
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