Payments News

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Under the Hood of CBA’s US$300m Klarna Play

“We’ll get to how the moment happened in a moment, but what Klarna’s local launch through CBA means for the Australian banking, credit, e-commerce and digital payments markets is pretty big. Bigger than it first sounded too. The launch that will send shudders not just through the CBA’s institutional peers – Westpac will not launch […]
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Visa Is Planning the Biggest Changes to Swipe Fees in a Decade

“With Visa’s changes, the interchange rate for so-called card-not-present transactions, which include those made online or over the phone, will increase. For a traditional Visa card, the fee on a $100 transaction will climb to $1.99 from $1.90. For premium Visa cards, the fee will rise to $2.60 from $2.50. On a premium-card transaction of $50 for the category that includes large supermarkets, the interchange […]
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LendUp Focuses on Underserved, Issues $2B in Loans

“Installment lender LendUp , which targets customers underserved by the credit system, has hit a milestone of $2 billion financed through the platform. It’s delivered 6.5 million loans since its inception in 2012. LendUp CEO Anu Shultes touts the platform’s ability to reach a consumer base that typically can’t access personal loans from big banks. […]
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Eye on Fintechs: Sezzle Sizzles With 1 Million Users and Curve Opens a U.S. Office

“Buy-now-pay-later specialist Sezzle Inc. said it surpassed 1 million consumers using its online payment service. Launched in 2016, Sezzle said it had reached 500,000 customers only in August 2019. At the end of the fourth quarter, the company, with corporate headquarters in Australia, said more than 10,000 merchants offer its e-commerce payment service. “One million […]
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7-Eleven is the next retailer to test cashierless stores

“7-Eleven is the latest retailer to test the “cashierless” store concept, following Amazon’s big push into the market with its Amazon Go convenience stores that use technology, instead of people, to monitor stock levels, track purchases and process payments. This week, 7-Eleven announced it’s piloting its own take on the cashierless concept with a 700-square-foot […]
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Surcharging Is Poised to Gain Momentum As State Bans Fall And Acquirers Spot Opportunities

“Surcharges on credit card transactions could pick up momentum now that only four states effectively ban the practice, a panel of experts indicated Wednesday at a merchant-acquiring trade show. That momentum may benefit not only merchants wary of card-acceptance costs but also merchant-service providers that focus on surcharging as a business opportunity, the panel indicated. […]

On The Wires

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Providers

Joust Launches A Fresh New Banking App for Freelancers & Self Employed Workers

“This morning, Joust — the nation’s first all-inclusive banking app for freelancers and the self-employed — launched a new mobile app with a modern, intuitive design, and several key features which round out its original beta app. Based on customer feedback, these new features include an analytical dashboard, Joust Visa debit card management, invoice creation/payments, […]
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Shell and Dunkin’ Announce Partnership and Loyalty Promotion Through Fuel Rewards ® Program

“Shell Oil Company (Shell), the largest fuel network in the United States, and Dunkin’ just announced a national expansion of their partnership with the Fuel Rewards® program. The “Sip Dunkin’, Save at Shell” partnership allows Fuel Rewards® members with Gold Status and DD Perks® Rewards Program members to save 10 cents per gallon every time they purchase […]