Mergers and acquisitions in the payments industry are growing as indicated by MasterCard’s purchase of fintech point-of-sale financing platform Vyze. According to Accenture, point-of-sale (POS) loans are a $1.8 trillion business opportunity. “Both consumers and businesses want the best choice and service, exactly when they ...
Read more
Fintech
Fintech
The payday loans industry is rightly criticized for contributing to a vicious cycle of poverty from its outrageous payments practices and high interest rates for low-wage workers who need an occasional payday advance loan. US payday loan companies typically charge $15 or more per $100 ...
Read more
ZestFinance, a leader in artificial intelligence (AI) software for credit, today launched ZAML Fair™, a new software tool to reduce bias and discrimination in lending. Following market tests with a leading national mortgage lender, ZestFinance claims its new software would eliminate 70% of the gap ...
Read more
Fidelity National Information Services’ (FIS) $43-billion cash-and-stock deal to merge with payments processor Worldpay Inc is another step in the sweeping shakeout and repositioning happening within the global payments industry. The merger follows Fiserv’s $22-billion deal to buy First Data Corp two months ago. The ...
Read more
A new report from Mitek/CI&T shines a light on the growing gap between the banking services small business wants and what banks are providing. It’s not a pretty picture. Three key findings should make banks very nervous about their tentative relationships with small business customers: ...
Read more
Walmart and Silicon Valley lender Affirm announced plans to offer the 4000-store retailer’s customers loans at the point-of-sale (POS) online and in-store at most US Walmart locations. The companies hope a simple, point-of-sale purchase and POS loan will appeal to consumers tired of excessive credit ...
Read more
Spring still seems far away in many parts of the country, so let’s warm up with the best of this week’s global payments news. Research from CompareCards.com says consumers are still looking for more credit card rates protection. Apple and Goldman Sachs have teamed up ...
Read more
New Feb 1 Foreign Direct Investment (FDI) regulations on e-commerce have the online selling business in turmoil in India. The new government regulations prohibit foreign-owned companies from restricting local retailers from their marketplace platforms or only selling products from preferred suppliers. Local Indian businesses have ...
Read more
Happy Friday. As always, we’ve got a roundup of the week’s best global payments news to keep you up-to-date and one step ahead of the competition. MasterCard and Visa battle for Earthport while we wonder how 50+ consumers will make payments in the future. Microsoft ...
Read more
Americans aged 50+ make up 35% of the population according to 2018 US Census figures. The American Association of Retired Persons (AARP) estimates these older consumers spend $0.51 of every dollar spent annually in the US. By 2030, these consumers will also spend as much ...
Read more