Fiserv adds Affirm’s BNPL to debit cards
Pre- and post-purchase, buy now/pay later loans from Affirm will be available on Fiserv-issued debit cards. Last year, Affirm and FIS inked a deal to bring Affirm's BNPL loans to FIS-issued debit cards.
Affirm applies for a banking charter
The buy now/pay later lender is seeking to create Affirm Bank, a Nevada-chartered industrial loan company.
PayPal eyes industrial loan charter
The payments company submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp. to create PayPal Bank. If approved, Mara McNeill, the former president and CEO of Toyota Financial Savings Bank, will serve as PayPal Bank's president.
BNPL growing as charge-offs and late fees decline: CFPB
A Consumer Financial Protection Bureau report on Pay in 4 buy now/pay later loans offered validation for an industry that has faced criticism for expanding into everyday spending, such as food delivery.
NYDFS extends BNPL request for information deadline to Sept. 15
The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.
Here’s what banks are saying about payments this earnings season
Bank earnings have been largely positive in the second quarter despite concerns that tariffs would increase inflation and stifle economic activity. Payment divisions at banks reaped the rewards, too.
BNPL competition flares as Sezzle sues Shopify
Buy now/pay later provider Sezzle has filed a lawsuit against Shopify, alleging that the e-commerce giant engaged in antitrust practices by making it difficult for merchants to integrate Sezzle's BNPL offering into their websites.
Tesla pushes real-time payments adoption into the fast lane
About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why aren't more using it?
Affirm wants more from consumers to boost BNPL
The buy now/pay later company beat analysts estimates on revenue and net income and is trying to get more frequent usage out of its customers.
‘Time to fight back’: Jamie Dimon hammers away on regulation
The longtime JPMorgan Chase CEO discussed the Basel III endgame capital rules, interchange fees and open banking during a fireside chat at the American Bankers Association's annual conference.