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- Payments provider Euronet Worldwide Inc. said its money-transfer segment handled 41.1 million transactions in the second quarter, up 10% from 37.3 million a year earlier.
- The U.S. Treasury Department’s Office of the Comptroller of the Currency, which regulates national banks, assessed a $15 million civil fine against American Express Co.’s American Express National Bank for allegedly failing to properly oversee a third-party affiliate in its efforts to retain small-business customers from 2015 to 2017. The OCC said AmEx failed to ensure the affiliate had appropriate call-monitoring controls and mechanisms to track customer complaints. The bank also failed to collect necessary consumer information and properly maintain records showing compliance with customer-identification regulations, the OCC said. AmEx, which has paid the fine, neither admitted nor denied the OCC’s findings.
- A banking app called Moves said it is offering real-time transfers using Visa Direct and the faster-payments platform Astra.
- PayPal Holdings Inc. announced Microsoft Corp. has integrated PayPal Pay Later, the company’s buy now, pay later option, in the United States and six other countries. The Microsoft Store has also added PayPal as a payment option.
- Jim Parks, who has been chief operating officer for the past three years at mobile parking and payments app provider Passport, is taking over as chief executive effective today. He succeeds David Evans, who is leaving office to focus on personal matters.
- Payments provider Helcim announced it is introducing automated clearing house transfers through an integration of its app with Xero, a platform for small businesses.
- The food-delivery app Grubhub has reintroduced a loyalty program that offers members free delivery on orders exceeding $12.
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