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Archive · October 23, 2026

October 23, 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

Large Scams Drive Older Americans’ Reported Fraud Losses to $3 Billion

FTC data show reported fraud losses among Americans aged 60 and over rose from $600 million in 2020 to $3 billion in 2025, with losses exceeding $100,000 driving much of the increase. Investment, romance and impersonation scams featured prominently. For banks and transfer providers, that concentration makes high-value transfers a focus for social-engineering checks and vulnerable-customer escalation procedures. The figures capture reported losses, not an estimate of all fraud losses.

Source: PYMNTS
Also Worth Knowing
№02

Card Delinquencies Rise While Charge-Offs Decline

September’s average card delinquency rate rose to 2.62% from 2.51% in August across a seven-issuer tracker, while average net charge-offs fell to 2.09% from 2.15%. The measures show repayment stress and realized losses moving in different directions; lower charge-offs alone do not establish healthier portfolios. PYMNTS also quoted Equifax management saying it had not observed institutions increasing portfolio reviews or reducing credit lines.

Source: PYMNTS
№03

Enova Exceeds $1 Billion Quarterly Revenue Without Completing Grasshopper Acquisition

Enova reported its first quarter above $1 billion in revenue, with revenue up 26% and originations up 31% year over year. The results followed its September 14 withdrawal of regulatory applications for the proposed $369 million Grasshopper Bancorp acquisition. Small-business products accounted for 68% of its $5.9 billion portfolio, while its net charge-off ratio declined to 8.1% from 8.5%. Growth without the acquisition does not establish equivalent funding economics without bank ownership.

Source: PYMNTS
№04

American Airlines’ Citi Card Spending Rises Nearly 10%

American Airlines reported nearly 10% year-over-year growth in Citi co-branded card spending and 27.4% growth in AAdvantage enrollments during Q3. Its cash-and-miles checkout rollout began October 2, after the quarter ended, so that feature cannot explain the reported Q3 gains. The results document expanding loyalty enrollment and card spending, but do not establish market-share gains against competing travel-card programs.

Source: PYMNTS
№05

Barclays Targets Approximately 5,000 Job Reductions in 2026

Barclays expects to reduce full-time employment by approximately 5,000 during 2026. Around 1,000 reductions occurred in the first half, leaving approximately 4,000 as of the end of June—not a current remaining-cut figure for October. About 60% of the planned reductions concern support functions, including developers. The bank reported £307 million in restructuring expenditure through September and expects another £300 million by year-end; the announcement does not establish payments-specific productivity gains.

Source: Banking Dive
The Long Memory
“According to the Social Security Administration, the first monthly Social Security retirement benefit check went to Ida May Fuller on January 31, 1940, for $22.54. Source: Social Security Administration, “Historical Background and Development of Social Security” — https://www.ssa.gov/history/briefhistory3.html

Filed under: Payments History · The Long Memory

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