Acquiring

The volume of buy now, pay later loans in the U.S. market will total $1.92 billion this year, up 25% from $1.54 billion in 2021, according to research from Research and Markets. The report projects the market will hit $6.5 billion by 2027.

As the holiday shopping season heads into the home stretch, consumer concerns over withered buying power due to inflation is expected to tamp down overall spending, according to J.D. Power’s Banking and Payments Intelligence Report. In a November survey of 4,000 retail bank customers nationwide, 40% said they expect to …

Long-time payments executive Frank Bisignano, who has guided payments giant Fiserv Inc. through a tumultuous time in the payments industry, has signed on to lead the company for another five years. Bisignano became chairman of the Brookfield, Wis.-based company in May, following his appointment as chief executive in July 2020. …

A fraud ring that appears to be based in Southeast Asia is targeting U.S. retailers and has already committed an estimated $660 million in fraud in stolen laptops, cell phones, computer chips, gaming devices, and other goods just in November, said Signifyd, an online-fraud prevention firm. Signifyd said it has been tracking …

Payments provider Paya Inc. has agreed to supply point-of-sale systems supplier 1Retail with technology that enables EMV contactless and stored payments in enterprise resource planning (ERP) software from Acumatica Cloud. The deal provides Paya’s and 1Retail’s mutual customers running the Acumatica ERP platform with a POS system that works in …

Payments-technology provider Finastra said Mechanics Cooperative Bank, a financial institution with $645 million in assets, has adopted the Finastra Payments To Go platform to offer real-time payments via The Clearing House Payments Co. LLC and later through the Federal Reserve’s FedNow network. Digital-security provider IronVest Inc. launched what it calls a “super app” for …

Global processor Worldline S.A. will make Splitit, a white-label buy now, pay later provider, available to its roster of merchants and marketplaces, starting first in North America. Announced Tuesday, the integration will enable Worldline merchants to offer card-based installment payments within the existing checkout flow. Merchants can use their brand …

The Consumer Financial Protection Bureau has ordered Wells Fargo Bank to pay $3.7 billion, including a $1.7-billon civil penalty and $2 billion in redress to consumers, for what the bureau says were illegal fees and interest charges on auto and mortgage loans, incorrect charges on checking and savings accounts, and other “incorrect” …

The interest in buy now, pay later (BNPL) skyrocketed in 2021 and 2022: Millions of people have turned to this installment-payment solution for its convenience, flexibility, and simplicity. So it’s no surprise that Apple announced its new BNPL product, Apple Pay Later, in June. With its new financial service, the …

Wedge Financial Inc. said its app, which lets users spend funds from multiple fiat accounts and assets using a single card, has joined Fiserv Inc.’s AppMarket. Work at the New York Fed under an initiative called “Project Cedar” means the United States has officially moved from the “research” phase to the …