Page 45 - Pso Feature News Today

The credit bureaus plan to add repayment data for installment loans, a move that can inform credit decisions and help answer regulators' questions about how such borrowing affects consumers' financial health.

The U.S.-based networks are offering credit cards and other products through financial technology companies that otherwise could allow consumers in the region to bypass bank-issued cards.

Several providers are building technology to try to prevent malware attacks when retailers accept contactless payments directly through their smartphones.

During the pandemic, consumers have become more willing to do their food shopping remotely. Companies like LG and Blue Apron are building on that interest through the addition of networked technology, mobile apps or card rewards.

Alliance Data Systems, which saw key clients like Pier 1 Imports shuttered during the pandemic, has diversified into buy now/pay later loans and other credit products it offers to consumers directly and through merchants.

Card networks are poised to connect to nonfungible tokens, issuers are revamping rewards, and regulators are taking greater interest in installment loans. These developments and more bear watching in the year ahead.

As the adoption of real-time payments grows, companies like Mastercard, ACI Worldwide and The Clearing House are bringing together data from banks, credit unions and merchants to catch scammers.

Consumers are pushing card networks and issuers to develop programs that reward them for spending on sustainable products and other initiatives to mitigate climate change.

These executives are adapting to changing customer demands amid rebounding M&A and coronavirus-related challenges.

The pandemic-era shift to digital payments gave prepaid cards a jolt worldwide. In Canada, the government's likely adoption of the cards for disbursing benefits and other payments could drive further growth as it did in the U.S.