Welcome to Innovating Payments Top 3 News Headlines for the Week of July 6, 2026.
In payments data news, the Federal Reserve provided results of its 2025 triennial payments study, reporting that cards are currently the most frequently used payment type, with debit cards accounting for the majority of payments.
And payments continue to evolve as evidenced by the news that more than 140 businesses, including Visa and Stripe, have partnered on the launch of a new stablecoin, called Open USD.
In other news, as the banking landscape continues to evolve, new players enter the space. Digital Transactions reports that Klarna has applied to start a Utah-based bank. The move would allow Klarna to bring its banking products, including merchant services, in-house.
Read on for more.
1. Federal Reserve issues initial findings from its 2025 triennial payments study (Board of Governors of the Federal Reserve System)
The Federal Reserve issued initial findings from its 2025 triennial payments study. The information shows how consumers and businesses chose to make noncash payments, using different types of cards, ACH payments, and checks.
The study shows that the total number of noncash payments made by consumers and businesses increased to 236.6 billion in 2024. Overall, the number of noncash payments more than tripled since 2000. Cards once again were used most frequently, accounting for over three quarters of payments by number. Debit cards continued to account for the majority of all card payments, although credit card payments grew faster than debit card payments for the first time in almost a decade.
Details can be found in a Federal Reserve press release (Read more.)
2. Card networks, banks, fintechs partner on 'low-cost' stablecoin (Payments Dive)
More than 140 businesses, including the card network Visa and the fintech Stripe, partnered on the launch of a stablecoin its founder billed as "open, low-cost, high-throughput, broadly accessible, and aligned to [partners'] interests."
The new stablecoin, Open USD, will be operated by the company Open Standard, with a board made up of Open USD partners. The company will be led, at least in the interim, by Zach Abrams, who is CEO of the Stripe subsidiary Bridge. Open USD is expected to be live "later this year," according to the launch statement.
"The technologies that changed the world, from the internet to mobile networks, succeeded because they became shared infrastructure that anyone could build on," said Jorn Lambert, Mastercard's chief product officer. "As stablecoins become a new way to move value globally, we believe the infrastructure behind them should follow the same path: open, interoperable and broadly accessible." (Read more.)
3. Klarna Applies to Start a Utah-Based Bank (Digital Transactions)
The buy now, pay later specialist Klarna AB said early Monday it has submitted applications with U.S. regulators to start an industrial bank called Klarna Bank USA.
The company's applications, filed with the Federal Deposit Insurance Corp. as well as the Utah Department of Financial Institutions, follow its move toward banking in other markets. It has owned a licensed bank in Stockholm, its global headquarters city, for nine years and has extended more than $91 billion in credit in the U.S. market over the past seven years, according to the company.
"Our own banking license is the natural next step, giving customers tools to borrow responsibly and build financial confidence," says Sebastian Siemiatkowski, Klarna's cofounder and chief executive, in a statement. (Read more.)
While cards remain the dominant form of payment today, with the landscape shifting and allowing for new infrastructure, five years from now, it may look very different.
NEACH supports you in staying on top of this evolution through targeted programming, expert commentary, and detailed review. Consider attending our Future of Payments Symposium, taking place November 2-3, in Newport, R.I., for the latest insights. In the meantime, tune into our "Wrestling Payments" podcast for opinions on how these developments will impact the future of payments.
NEACH - New England Automated Clearing House Association is a neutral, member-focused advocate. Our role is to give you the intelligence, context, and connections you need to make informed strategic decisions. We bring together industry leaders, policymakers, and innovators so you can evaluate innovation through the lens of your institution’s mission and market strategy. For more information, visit neach.org.
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AUTHOR: Joe Casali, AAP, NCP
Executive Vice President
As the EVP of Payments Innovation for NEACH, Joe focuses on exploring innovative solutions and technologies that will help position members for success, both now and in the future. Connect with Joe to read more of his blogs, articles, and posts.
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