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Archive · May 20, 2026

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Story 01

Primer Raises $100M to Expand AI-Driven Payment Automation for Merchants

Primer has raised $100 million in Series C funding to embed AI throughout its payment processing platform, aiming to automate payment routing, fraud detection, and reconciliation for merchants. With this funding, Primer plans to launch new AI-powered products and pursue additional merchant partnerships, directly challenging established processors like Adyen and Stripe. Merchants could benefit from streamlined operations and improved payment acceptance as Primer accelerates its go-to-market strategy.

Source: Finextra
Also Worth Knowing
№02

White House Pushes for Easier Fintech Access to Core Payment Systems

The White House has urged federal agencies to review and potentially relax restrictions on fintechs accessing core payment rails such as ACH and FedNow. If regulators follow through, fintechs could gain direct connectivity to these systems, enabling them to compete more directly with banks for payments and deposits. This shift may prompt banks to innovate on customer experience and pricing as fintechs test pilot programs and new partnerships under revised rules.

Source: PYMNTS
№03

Euro Stablecoin Qivalis Gains Support From 37 European Banks

Qivalis, a euro-pegged stablecoin, has secured backing from 37 banks across Europe, including 25 new partners, as the region seeks alternatives to dollar-backed digital assets. This level of bank participation gives Qivalis a strong foothold in shaping euro stablecoin standards and could enable European banks to offer faster, lower-cost cross-border payments to their customers. The move may also influence how regulators approach digital euro initiatives and private stablecoin coexistence.

Source: Financial Times
№04

Visa and Mastercard Face New EU Antitrust Probe Over Cross-Border Fees

The European Commission has launched a formal investigation into Visa and Mastercard’s cross-border interchange fees for card payments within the European Economic Area. Regulators are examining whether the networks’ fee structures restrict competition or inflate costs for merchants and consumers. Depending on the findings, Visa and Mastercard may need to adjust their pricing models or face potential fines, while merchants could see lower acceptance costs.

Source: Reuters
№05

Revolut Launches Physical Crypto Debit Card for Everyday Spending

Revolut has introduced its first physical crypto debit card, allowing users to spend cryptocurrencies directly at merchants. This move extends crypto’s reach into daily commerce and challenges banks and fintechs to offer similar products to attract crypto-savvy consumers. Merchants accepting the card can tap into a growing base of digital asset holders, while regulators may increase oversight as crypto payments become more mainstream.

Source: Finextra
The Long Memory
“In 1950, the first universal credit card, Diners Club, was created after its founder forgot his wallet at a restaurant—sparking the modern card payments industry.

Filed under: Payments History · The Long Memory

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