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Archive · August 8, 2026

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Story 01

Klarna Integrates J.P. Morgan Payments to Expand U.S. Merchant Processing

Klarna has integrated J.P. Morgan Payments as its payment processor in the U.S., enabling Klarna to offer its BNPL and payment solutions directly to merchants using J.P. Morgan’s acquiring infrastructure. This partnership gives Klarna access to J.P. Morgan’s extensive merchant base and payment rails, allowing Klarna to approach larger U.S. retailers seeking unified BNPL and payment processing. Competing acquirers and BNPL providers may see increased competition for enterprise merchant deals as Klarna leverages this new channel.

Source: Finextra
Also Worth Knowing
№02

Google Wallet Adds Parental Controls and Supervised Balances for Minors

Google Wallet now lets parents set up supervised balances for children under 18 in the U.S., allowing real-time monitoring and control of kids’ spending. This feature positions Google Wallet as a family-friendly option and may prompt parents to introduce their children to digital payments earlier, potentially building long-term loyalty among Gen Z and Gen Alpha. Apple Pay and PayPal could face pressure to enhance their own youth and family offerings to keep pace.

Source: Finextra
№03

Splitit and 1stMILE Bring Card-Linked Installments to Auto Repair Shops

Splitit and 1stMILE have launched a solution enabling auto repair customers to split bills into monthly installments using their existing credit cards. This marks a push for BNPL into the auto services sector, giving repair shops a tool to boost conversion and average ticket size. Other installment providers may look to expand into non-retail verticals as merchants seek flexible payment options for high-cost services.

Source: PYMNTS
№04

Paysera Drops Merchant Bank Transfer Fees in the Baltics

Paysera has eliminated all merchant bank transfer fees in Lithuania, Latvia, and Estonia, undercutting regional PSPs like SEB and Swedbank that still charge for these services. By removing this cost, Paysera aims to attract more than 10,000 businesses and pressure competitors to lower or drop their own fees, potentially triggering a broader fee war in the Baltic payments market.

Source: Finextra
№05

Varo Bank and Green Dot Enable Fee-Free Cash Deposits at Kroger Stores

Varo Bank and Green Dot now allow customers to make fee-free cash deposits at over 2,000 Kroger locations, expanding access for cash-dependent users and strengthening Varo’s appeal among underbanked consumers. Competing digital banks such as Chime and Current may need to secure similar retail partnerships to maintain relevance for customers who rely on cash.

Source: Finextra
The Long Memory
“Regulation II’s debit interchange cap, introduced in 2011, led some banks to reduce free checking and rewards, reshaping consumer banking incentives in unexpected ways.

Filed under: Payments History · The Long Memory

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