Fintech

Buy now, pay later options are seemingly everywhere lately. But there’s one place they’re notable absent: your credit report. Up until now, installment payments have largely gone undetected, primarily because most lenders don’t report their customers’ loan information and payment history to the three major credit bureaus: Equifax, Experian and TransUnion. That has made buy now, pay […]

US card giant Mastercard, through a joint venture, has finally begun processing domestic payments in China. This week, the Mastercard NetsUnion JV began processing payments made in China with Mastercard cards issued by the country’s banks. In addition, Mastercard-branded cards will now be accepted for both domestic and international purchases. Michael Miebach, CEO, Mastercard, says: […]

Nonprofit pro-cryptocurrency group Stand With Crypto has formed a political action committee (PAC) to support candidates who are encouraging of cryptocurrency and blockchain developments in the upcoming US elections. Stand with Crypto has 440,000 members, and aims to raise funds for pro-crypto candidates’ campaigns. Other crypto-focused PACs Fairshake, Defend American Jobs, and Protect Progress have […]

Online broker for trading services, Trading 212, has partnered with Paynetics to bring multi-currency cards to its product portfolio. Trading 212, the Financial Conduct Authority (FCA) regulated online broker offering trading services, has announced a new partnership with European embedded finance provider Paynetics. The deal sees Paynetics provide Trading 212 with multi-currency accounts and card […]

The construction industry is a critical one, but it has a giant problem: late payments. In a sector where cash flow couldn’t be more important to firms’ survival, slow and delayed payments in the construction space cost businesses $273 billion in 2023 — representing nearly 14% of total construction costs, up from 12% in 2022. Partly to blame is the construction sector’s […]

Access Bank, has partnered with Mastercard to expand access to cross-border payments and remittances to and from the African continent. Specifically, the bank will leverage the network and treasury capabilities of Mastercard Move. The bank will empower individuals and businesses to enjoy instant, traceable, seamless, and cost-effective international transactions. The newly launched solution will be operational across […]

FinTechs must make money mobility a top priority if they want to woo consumers away from traditional banks. While PYMNTS Intelligence’s data confirms FinTechs have made progress in meeting consumer expectations around instant payments, there is still room for improvement. In “FinTechs’ Instant Payment Mismatch,” a collaboration with Ingo Payments, we found that 47% of […]

My journey with American Express began in 1998, a year that pales in comparison to my father-in-law’s card, a relic from 1959, the era of “Mad Men.” As a budding banker at Citi and Chase, I often discussed his long-standing relationship with Amex. He was an early adopter of credit cards, launching his CPA career […]

The Consumer Financial Protection Bureau (CFPB) has taken action against online payments processor Chime for failing to return funds to customers promptly after account closure. Although Chime is not a bank itself, the San Francisco-based company partners with banks to offer financial products like checking accounts and credit cards. Chime’s policy dictates that customers should […]

Airlines are increasingly relying on credit card programs and rewards points for profitability, while smaller airlines fight for a way to break into this competitive market. This morning’s U.S. Department of Transportation and Consumer Financial Protection Bureau hearing on airline rewards credit cards focused on the roadblocks consumers face in navigating their points programs, including […]