In a transaction last year, credit card giant American Express acquired U.K. digital payments startups Cake Technologies, the global financial firm recently confirmed.

“B2B payments innovation has been fueled by businesses always looking to simplify complexities," said Vicky Bindra of Visa.

"Citi bumped the APRs on its card offers by 0.25%, causing the national average APR to rise to an all-time high."