Amex says Iran war has an impact, but not a big one
A decline in Middle East travel and higher fuel prices should not put a major dent in the company's performance, execs said Thursday.
By
John Adams
Affirm bulks up lending power ahead of earnings
The buy now/pay later firm, which reports earnings Thursday, has inked deals with Worldpay to expand potential borrowers and with New York Life to obtain more capital for future lending.
By
John Adams
Klarna enters arena with big banks as it adds financial services
The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.
By
John Adams
Credit unions put a twist on BNPL to lure debt-conscious borrowers
Shared services organizations PSCU and Co-op Solutions are offering post-purchase buy now/pay later loans, with the goal of reaching consumers who are concerned about managing their credit.
By
John Adams
Amex’s growth rate slows, but leadership sees no immediate downturn
The company says young consumers, steady credit quality and a robust travel recovery will offset a weaker economy for small businesses.
By
John Adams
With the chip shortage fading, in-car payments gain speed
JPMorgan Chase and Discover are among the firms developing new technology to allow more people to shop from behind the wheel.
By
John Adams
Affirm lays off one in five workers as company resets strategy
The buy now/pay later lender posted larger-than-expected losses, and following its layoffs it will deemphasize products with an uncertain short-term outlook, such as crypto trading.
By
John Adams
Despite headwinds, Mastercard reports strong consumer spending
The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.
By
John Adams
Visa, Klarna and other payment firms lend scale to ‘green payments’
The companies, which reach thousands of merchants, recently launched environmental programs that use a network effect to cut carbon emissions.
By
John Adams
How Discover’s skills lab shapes its newest recruits
Sometimes the right worker has the wrong skills. The card network's lab in Chicago is hiring people with general technology expertise, then training them for specific tasks.
By
John Adams
How Apple’s Tap to Pay could hasten the demise of the point of sale
The cloud retail firm NewStore is an early adopter of the tech giant's iPhone payment acceptance service, which some see as a step toward eliminating dedicated checkout lanes altogether.
By
John Adams
CFPB is ‘no longer sleeping’ on payments, former regulators say
A more active Consumer Financial Protection Bureau, competition from Big Tech and sanctions on Russia are combining to make compliance a much larger concern than in the past, according to legal experts who spoke at American Banker's Payments Forum.
By
John Adams
Buy now/pay later pioneers defend their turf as banks move in
Now that JPMorgan Chase, Goldman Sachs, Capital One and others offer the alternative credit option, the startups that created this market are adding products to cement their hold on consumers and merchants.
By
John Adams
What does Jack Dorsey’s departure as Twitter CEO mean for Square?
The tech entrepreneur has been increasingly focused on Bitcoin, a key growth area for the payments company he co-founded.
By
John Adams
JPMorgan Chase aims to build Zelle-like network for B2B payments
The bank, which helped launch the real-time network for peer-to-peer payments, is trying to duplicate that success by helping corporate clients process certain transactions instantly with wholesale partners and, in some cases, retail customers.
By
John Adams
Why the U.S. and Europe trail China in central bank currency race
Western central banks trying to develop sovereign cryptocurrency models face pushback from lawmakers and other obstacles, while the digital yuan has a much clearer path.
By
John Adams
Payments cards, credit monitoring: What’s next for installment lenders
A growing number of companies like Klarna, Sezzle and Circle let consumers split large purchases into smaller transactions paid over time. But they say they need to offer more than one product to set themselves apart and build customer loyalty.
By
John Adams
VCs boost investment in Black- and Latinx-owned fintechs
More than 97% of venture backing goes go white-owned startups. Firms like Mendoza Ventures, Chingona Ventures and MaC Venture Capital are stepping in to support underserved entrepreneurs.
By
John Adams
Fiserv sees existing credit lines as cure for PPP limitations
The race to provide coronavirus relief for small businesses is opening new routes to fund payments, including underused credit lines.
By
John Adams