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Archive · October 16, 2026

October 16, 2026.
Five payments stories that matter.

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.

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The Lead

Story 01

EBA Sets November Handover for Supervision of USDC

The European Banking Authority classified USDC, issued in the EU by Circle Internet Financial Europe SAS, as a significant e-money token on October 14—the first among 45 notified EU e-money tokens. From November 12, 2026, the EBA assumes responsibility for own funds, reserves, liquidity, and recovery and redemption plans; France’s ACPR retains responsibilities including governance and outsourcing. Banks and PSPs using USDC should reflect that split in issuer due diligence. The designation does not constitute a regulatory endorsement or a new payment-services authorization.

Source: European Banking Authority
Also Worth Knowing
№02

U.S. Bank Bundles Deposits, Merchant Processing and Cards for Small Businesses

U.S. Bank identified small-business growth as a leading 2027 priority, combining checking, merchant processing, cards and spend management. Banking Dive reports that the bank serves approximately 2 million small businesses and that its small-business segment recorded $45 billion in average deposits, up 2% year over year, and $223 million in fee income, up 9%. New business-card benefits also depend on deposit balances, making the combined cost of banking, credit and payment acceptance relevant when merchants compare the bundle with standalone providers.

Source: Banking Dive
№03

Ramp Raises $1.85 Billion at a $60 Billion Valuation

Ramp raised $1.85 billion in primary financing led by Dragoneer Investment Group at a $60 billion valuation, Finextra reported on October 15. Primary financing puts capital into the company rather than solely funding shareholder liquidity. The report did not specify how Ramp would allocate the proceeds, so the round does not establish a particular product expansion or change in commercial terms.

Source: Finextra
№04

Google Rolls Out Universal Cart With Two Checkout Paths

Shoppers in the United States began gaining access to Google’s Universal Cart on October 15. The product collects items across retailers in Search and Gemini and tracks price and availability changes. Some participating stores support Google Pay checkout inside the cart; others send shoppers to the merchant’s website. Merchants measuring the rollout’s results need to distinguish native checkout from redirected sessions rather than treating both as the same purchase journey.

Source: PYMNTS
№05

Glance Names PayPal Its Sole Native In-App Checkout Partner

Glance added real-time product information and native PayPal checkout to its personal-shopping platform on October 15. According to the announcement reported by PYMNTS, PayPal is the platform’s only native in-app checkout partner, allowing shoppers to complete purchases without a website redirect. That exclusivity concerns native checkout on Glance, not a broader restriction on retailers’ payment options. Glance’s reported footprint of 60 million phones and connected TVs measures device distribution, not active shoppers or payment volume; the announcement did not disclose exclusivity duration.

Source: PYMNTS
The Long Memory
“In 1958, Bank of America mailed 60,000 BankAmericards to residents of Fresno, California, in an experiment known as the “Fresno Drop” that helped establish the revolving credit-card model.

Filed under: Payments History · The Long Memory

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