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Industry

New iPhone Tap to Pay Feature Already in Use at Apple Park Visitor Center

May 17 2022

“In February, Apple announced a new system called to Tap to Pay on iPhone which allows an individual to take a contactless payment, only using their iPhone as the payment terminal. With the feature active, a customer simply has to tap their NFC iPhone or bank card on the top of the receiving device’s phone, to enact […]
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Industry

Brazilian Central Bank President Confirms CBDC Pilot Will Launch in 2022

May 17 2022

“The president of the Central Bank of Brazil confirmed that the country’s sovereign digital currency pilot will go live this year, Cointelegraph Brazil reported . The confirmation about the digital currency came during an event on Monday, where Roberto Campos Neto, the president of the Central Bank of Brazil, noted that a pilot CBDC program […]
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Industry

Buy-Now-Pay-Later Firms Offering ‘Indirect Credit’ Must Now be Authorised by the Central Bank

May 17 2022

“The Central Bank of Ireland has widened its consumer protection rules to cover so-called ‘buy-now-pay-later’ (BNPL) firms. It means companies offering “indirect credit” to customers, allowing them to spread the cost of purchases over instalments while charging them interest, will now need to be authorised by the regulator, the Central Bank said in a statement.”
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Industry

How the Metaverse Can Transform Banking

May 16 2022

“The metaverse, defined as a network of 3D virtual worlds or a virtual reality space in which users can interact with a computer-generated environment and other users, is quickly gaining popularity. With multiple uses and features of this virtual reality space being discovered and explored every day, it is clear that metaverse very well could be the […]
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Industry

CFPB Issues Advisory Opinion on Coverage of Fair Lending Laws

May 11 2022

“…the Consumer Financial Protection Bureau (CFPB) published an advisory opinion to affirm that the Equal Credit Opportunity Act (ECOA)—a landmark federal civil rights law protecting individuals and businesses against discrimination in accessing and using credit—bars lenders from discriminating against customers after they have received a loan, not just during the application process.”
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Industry

Survey: Buy Now, Pay Later Is Popular With Online Shoppers

May 11 2022

“The newest way to pay in installments, Buy Now, Pay Later (BNPL) is changing how people shop. Widely available online, you usually only have to make your first payment at check-out with the additional required payments and due date clearly laid out for you during the purchase process. Often, these payment plans don’t tack on interest […]

On The Wires

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Industry

Fraugster Launches a New Alternative Credit Decisions Solution to Support BNPLs and Enterprise Merchants to Approve More Customers Without Increasing Credit Risk

May 19 2022

“Alternative Credit Decisions gives Fraugster customers access to AI enriched data that increases approval rates, reduces credit bureau costs and provides industry and region specific insight –  Fraugster, an AI payment intelligence company, today announced the launch of their latest product, Alternative Credit Decisions, which allows Buy Now Pay Later (BNPL) and Enterprise merchants to […]
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Industry

Quontic Bank Opens Metaverse Outpost

May 18 2022

“Quontic Bank announced the opening of its outpost in Decentraland, the first banking experience in the Metaverse. Quontic began as a community bank over a decade ago and has evolved into a fully digital national bank with an innovative, customer-centric approach that has led the industry in offering some of the most groundbreaking experiences and […]
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Industry

BNPL 2.0 Comes to America – Zilch Reinventing Installment-Payments Plans, With No Interest or Late Charges and Cashback Rewards

May 17 2022

“Zilch, a next-generation payments and Buy Now, Pay Later (BNPL) platform, with a BNPL 2.0 business model that works directly with consumers and features no fees or late charges along with 2% instant cashback rewards, has launched in the US with over 150,000 pre- registered customers. Zilch is accepted everywhere Mastercard can be used… Utilizing […]