Payments News

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Global

Sweden Bids to Steer Customers Away From Installment Payments Amid Fears Over Mounting Debt

“As e-commerce has continued to grow across the Nordics, many online shoppers in Sweden have become used to paying for their purchases with credit by selecting invoices, installments, or any other payment options that allow the consumer to enter into a debt when completing their online payment.Under the new Swedish Payment Services Act, merchants offering […]
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Providers

Robinhood Has Lured Young Traders, Sometimes With Devastating Results

“Millions of young Americans have begun investing in recent years through Robinhood, which was founded in 2013 with a sales pitch of no trading fees or account minimums. The ease of trading has turned it into a cultural phenomenon and a Silicon Valley darling, with the start-up climbing to an $8.3 billion valuation. It has […]
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Providers

Consumer Bureau Scraps Restrictions on Payday Loans

“The Consumer Financial Protection Bureau on Tuesday formally rescinded a plan to impose new limits on payday lending, handing the industry a major victory by killing off tighter rules that it spent years lobbying to overturn. The proposed rules would have been the first significant federal regulations on an industry that makes $30 billion a […]
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Providers

LocalGlobe and TransferWise’s Taavet Hinrikus back ‘frictionless finance’ startup Radix

“Radix , a U.K. startup that’s building a decentralised finance protocol on which new financial apps can connect and be built on top of, has raised $4.1 million in new funding. Backing the company, which counts the Ethereum network and a number of other “DeFi” projects as competitors, is London-based seed-stage VC LocalGlobe and TransferWise […]
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Providers

Inside Goldman’s New Corporate Banking Portal

“Goldman Sachs recently launched an online banking service for large businesses that it says is more streamlined than traditional banks’ offerings, with features like virtual accounts, quick account opening and predictive analytics to help customers anticipate future cash flows. In so doing, Goldman entered a market that a small number of large banks own and […]

On The Wires

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Deals

PSCU Completes Acquisition of Primax

“PSCU, the nation’s premier payments credit union service organization (CUSO), today announced that it has completed the acquisition of the Primax business from T.K. Keith Company, Inc. Terms of the transaction were not disclosed. Based in Wakefield, Mass., Primax has been designing and providing support services for payment card programs for credit unions and community […]
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Companies

BNY Mellon to Deliver Real-Time Account Validation Services to Corporate and Bank Clients in the U.S.

“BNY Mellon today announced a collaboration with risk and payments solution provider Early Warning Services, LLC (EWS). Through this agreement, BNY Mellon will deliver real-time account validation services to clients, and offer the flexibility to tailor a solution to meet clients’ individual needs— whether through BNY Mellon directly, or through one of its Private Label […]
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Providers

Jack Henry Wins 2020 FinTech Breakthrough Award for Best Banking Infrastructure Platform

“Jack Henry & Associates, Inc. is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Jack Henry announced today that JHA OpenAnywhereTM  received the Best Banking Infrastructure Platform Award from FinTech Breakthrough, an independent organization that recognizes the top companies, technologies, and products in the global fintech market.”
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Providers

CarePayment Integrates New Digital Capabilities

“CarePayment, an industry leader that partners with providers to improve their financial health by offering 0.00% APR financing to patients, today announced the launch of its Advanced Patient Engagement Platform. The new technology and digital engagement capabilities increase provider cash flow and help patients get the care they need without delay due to medical costs.”