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November 4, 2021
As installment lending becomes more popular, regulators in the U.S., Europe and Australia are considering new restrictions or taking action against lenders.
November 2, 2021
The Indiana-based online banking pioneer is purchasing First Century, a similarly tech-savvy company, for $80 million. The deal would diversify its revenue and improve its prepaid card offerings for small businesses.
November 1, 2021
Fintechs have begun offering consumers installment-lending options to pay for airfare, putting competitive pressure on banks and credit unions that rely on travelers for significant credit card volume.
October 29, 2021
If law enforcement concludes that the company's devices were used in a cyberattack on U.S. companies, banks may need to change the way they choose, test and monitor point-of-sale equipment.
October 29, 2021
The bank tapped Antony Stephen, former head of Amazon Payments Europe, to oversee its move into small buy now/pay later loans. It is also reportedly seeking a partnership with the e-commerce giant in the U.K.
October 28, 2021
The card network plans to use technology acquired from CipherTrace to offer compliance and risk management services to firms that handle digital assets.
October 27, 2021
The card network is working with new partners such as FIS and Moneris to connect banks, fintechs and merchants on its Visa Installments Solution platform. Its goal is to provide access to a broader spectrum of consumers than these companies can reach in one-off deals, CEO Al Kelly said.
October 26, 2021
The partnership — combining one of the biggest buy now/pay later lenders with one of the major digital payment companies — gives merchants a compelling new offering that could enable Klarna to take wallet share away from traditional card issuers.
October 25, 2021
The New Payments Architecture was delayed for years due to COVID and other factors. It will move ahead focused only on push payments instead of replacing two national rails.
October 22, 2021
Steve Squeri said installment lenders primarily cater to debit card users and that even American Express's own BNPL product does not compete with the company's credit and charge cards.