Skip to content
Archive · August 16, 2026

Five critical payments insights.
Zero noise.
Daily.

The 5-minute briefing for payments professionals who need to know what happened, what it means, and what to do about it — before their 9am.

Trusted by payments operators

Joined by 60+ product, risk, and partnerships leads at networks, issuers, acquirers, and fintechs.

The Lead

Story 01

Citigroup Acquires Kard to Boost Consumer Card Engagement and Loyalty

Citigroup’s Consumer Cards division has agreed to acquire fintech Kard Financial, aiming to enhance its consumer engagement and rewards capabilities. This move positions Citi to compete more aggressively with digital-first banks and fintechs on loyalty and personalization. Other major banks may now pursue similar acquisitions to defend their card portfolios and deepen customer relationships. The deal also highlights ongoing regulatory scrutiny of bank-fintech tie-ups.

Source: Finextra
Also Worth Knowing
№02

Visa and Mastercard Face New UK Probe Over Cross-Border Card Fees

The UK’s Payment Systems Regulator has launched a formal investigation into Visa and Mastercard’s cross-border interchange fees, citing concerns about rising costs for merchants and consumers. The probe could lead to regulatory interventions that reshape fee structures and impact card scheme revenues. Merchants and payment processors are watching closely for potential changes to cross-border transaction economics.

Source: Reuters
№03

JPMorgan Cuts Off Polymarket, Raising Stakes for Bank-Fintech Partnerships

JPMorgan Chase has ended its banking relationship with prediction market Polymarket, citing regulatory concerns and compliance priorities. This move may prompt other large banks to reassess their exposure to crypto-adjacent platforms and tighten onboarding standards. Fintechs operating in gray regulatory areas now face higher barriers to maintaining traditional banking access. The episode could accelerate calls for clearer rules on bank-fintech partnerships.

Source: Finextra
№04

Israel’s Largest Bank Partners with Galaxy Digital for Crypto Trading Expansion

Israel’s largest bank has teamed up with Galaxy Digital to offer trading services for Bitcoin, Ether, and Solana, expanding its crypto product suite. This partnership gives Israeli customers direct access to major digital assets through a regulated banking channel. Competing banks in the region may now accelerate their own crypto integrations to avoid losing market share. Regulatory scrutiny of such partnerships is likely to intensify as adoption grows.

Source: The Block
№05

Cboe Seeks SEC Approval for First U.S. 3x Leveraged Bitcoin and Ether ETFs

Cboe has filed for SEC approval to launch the first U.S. 3x leveraged Bitcoin and Ether ETFs, aiming to capture demand for high-risk, high-reward crypto products. If approved, this would set a new bar for leveraged crypto exposure in regulated markets and likely trigger a wave of similar filings from competitors. The move raises the stakes for ETF issuers and may prompt the SEC to revisit its approach to leveraged digital asset products.

Source: The Block
The Long Memory
“PSD2’s requirement for banks to provide open APIs led to the emergence of third-party providers that can initiate payments directly from customer accounts, bypassing card networks entirely.

Filed under: Payments History · The Long Memory

What's Hot