Real-time payments adoption is still in its infancy in the US. But business and consumer demand are increasing, providing a growth opportunity for banks and customer-facing payment providers.

The news: Mastercard and Visa reported strong revenue growth in their most recent quarters. Visa’s net revenues rose 14% YoY in its fiscal year Q3 (ended June 30, 2025). Mastercard’s net revenues for the period rose 17% YoY. Our take: Both Visa and Mastercard understand that they need to innovate to keep their infrastructure competitive in light of the explosion of alternative payment rails—most recently stablecoin initiatives, made possible by the recent passage of the Genius Act.

The news: Mastercard rolled out the AI Card Design Studio, which lets consumers and small businesses at participating banks personalize the front of their card, including with AI-generated images and designs. Our take: Mastercard offering a free, AI-based design feature lets businesses and customers maximize their design flexibility and the emotional impact of their products. (Remember customized checks with family photos?)

The news: Capital One’s net revenues increased 25% QoQ to $12.5 billion—one of the many dramatic changes after its merger with Discover.Our take: The scale of Capital One’s merger is eyewatering. As the issuer looking to maximize its yields, it can both offer more attractive credit and debit products within a regulatory environment that is friendly to ambitious growth.

AI is upending every aspect of marketing, from neuro-contextual ads that read emotions to autonomous shopping agents that make purchasing decisions. As tech giants consolidate control of the sector, six pivotal trends are reshaping advertising, search, and commerce.

The news: Mastercard launched the World Legend Mastercard, a premium card for higher-spending customers, alongside an overhaul of rewards and perks across the entire Mastercard Collection. Our take: We anticipate that card networks will jockey for the most premium cards as issuers cater to wealthy consumers’ reward wish lists.

The news: Early Warnings Services’ Zelle submitted a letter in response to the Treasury Department’s request for information on paperless payment services. Our take: Winning this contract would dramatically boost Zelle’s payment volume, but it faces steep competition from incumbents and other structural roadblocks.

The news: Mastercard and Fiserv will offer Clover hardware rental fees for just $0.01 per month to the first 1,000 merchants who sign up for the network’s US Small Business Navigator platform, per a press release.Our take: Mastercard and Clover both want to secure small business market share.

The news: Fiserv will launch its own stablecoin, FIUSD, by end of year to complement its existing banking and payments infrastructure. Our take: Reporting BNPL data to the credit bureaus would be a solid step toward combatting BNPL’s “phantom debt” criticism.

At Cannes Lions 2025, commerce media partnerships once again reigned supreme. Once the domain of digital shelf tactics and retail data, commerce media is now reshaping how brands show up across social platforms, connected TV (CTV), and in-store displays. This year’s festival offered a glimpse into a more integrated, AI-driven future—one where conversational ads, programmatic pipes, and real-world touchpoints blur the lines between media and purchase.

Tariff uncertainty, billion-dollar merger and acquisition deals, and a jump in social commerce will create new dynamics in the payments industry in H2 2025. Burgeoning tech like agentic AI and stablecoins will further shake up the space.

Centralized payment options and automating spend threshold One Credential can help to keep PayPal products top-of-wallet for Gen Z.

The news: Monthly subscription dog toy company BarkBox is under fire for a leaked Slack message showing the company stepping back from its Pride marketing initiatives. The message claimed that promoting its Pride offerings alienates a large portion of BarkBox’s audience. Our take: The BarkBox backlash highlights that companies are at an inflection point where submitting to political pressures and pulling back on Pride is just as risky as staying the course—but those who remain committed are most likely to benefit in the long run.

With seamless in-app purchases coming, PayPal could turn Perplexity into a trusted, AI-driven checkout hub—especially for younger, AI-hungry consumers.

The personalized rewards offering will help the credit card stand out against other no-annual-fee credit cards

Payment providers are investing in AI to help streamline and personalize both the merchant and customer experiences

The tech is dominating recent headlines as retailer and consumer interest explodes

So far, neither network has seen signs of a consumer spending slowdown despite plummeting consumer sentiment

Agent Pay could transform the payments experience for consumers with hyperpersonalized recommendations

In the first 100 days of his second term, President Trump has reshaped business strategy across retail, tech, healthcare, and media. Here’s how tariffs, regulation, and market volatility are forcing brands to rethink spend, growth, and planning.