2 stories on Fintech, newest first.
The payments industry is moving beyond the traditional choice between card networks and direct bank transfers (Pay by Bank), instead building unified systems that offer consumers multiple payment rails. This evolution reflects changing consumer preferences and the rise of open banking standards that let banks compete more directly in payments.
Zentoshin, an Osaka-based credit-card payment processor, has filed for bankruptcy at the Osaka District Court with about 125.9 billion yen (roughly $780 million) in liabilities, making it Japan's largest corporate failure so far in 2026. The company paid restaurants their card sales upfront, ahead of the card networks, for a fee, so its collapse leaves food-service clients scrambling and has dragged down several regional bank stocks that lent to it. A pandemic hit to its restaurant customers and a fraud scandal that cut off its financing brought the firm down.
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