Payments News

On The Web

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State Attorneys General Urge CFPB Oversight on “Buy Now, Pay Later” Companies | JD Supra

“On March 25, the Illinois State Attorney General Kwame Raoul, along with 18 other state attorneys general (state AGs), [1] provided comments to the Consumer Financial Protection Bureau (CFPB) related to the CFPB’s inquiry into companies that offer consumers the opportunity to divide the cost of their purchases into multiple installments, also referred to as […]
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Exclusive: Klarna Spins Open Banking API Strategy With Dedicated Unit – AltFi

“Klarna is best known for riding the crest of ‘buy now, pay later’ wave but its booming open banking business is its new move. In the past year, the company has stealthily created a dedicated unit devoted to open banking, including doubling its bank connectivity in the past year from 6,000 to 15,000 banks making us the largest bank aggregator in […]
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New BNPL Study Raises Concern About ‘Debt Spiral’

“Nearly 20 percent of U.K. credit cards were used last year to make buy now-pay later payments, a “warning flag” for regulators concerned about consumers taking on more debt than they can afford, said new research from three British economists. The working paper , published online last month though not yet in an academic journal, […]
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PollenPay Creates a Buzz in BNPL Revolution

“PollenPay, the Manchester-based ‘Buy Now, Pay Later’ (BNPL) company has officially launched in the UK. The company’s mobile-based application is now available as a free download for all customers aged 18 or above, via Apple ’s App Store. PollenPay’s new mobile application will give its customers more flexibility when making payments.”

On The Wires

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U.S. Bank Expands and Enhances U.S. Bank ExtendPay™

“U.S. Bank, an industry leader in payment services, has enhanced its ExtendPay ™ offering, which provides U.S. Bank consumer and business cardmembers with the ability to buy what they want now and pay for it later, providing them with added flexibility and control over their cash flow. ExtendPay is a new payment option that allows customers to […]
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Zilch Continues to Lead Responsible Lending in the Payments and BNPL Space

“Zilch , the London, head-quartered fintech Unicorn, today announces it has taken another major step forward in innovating its technology to measure affordability through its latest partnership with Experian, the global information services company to begin reciprocal reporting of Buy Now Pay Later credit information. Zilch continues to pioneer the space by making use of […]
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Visa Installments Solution Eyes Expansion With Air Canada

“As consumer interest in ‘Buy Now, Pay Later’ (BNPL) continues to grow, Visa announced today its intention to collaborate with Air Canada, the flag carrier and Canada’s largest airline, to facilitate the offering of Visa Installment Solution to eligible credit cardholders, giving Canadian travelers more choice and flexibility over how they pay for their airline purchases. With […]
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Mastercard Drives Scale of Buy Now, Pay Later With Raft of New Partners

“Mastercard today announced a growing list of leading partners, including BNPL specialists and globally recognized brands, further expanding Mastercard Installments, the unique BNPL program that delivers greater choice at checkout, both in-store and online.Amount, Bass Pro Shops and Cabela’s, Deserve, H&R Block, i2c, Lithic, Saks Fifth Avenue, Sutton Bank and Walgreens join the wide array of partners already working with […]
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