As part of its strategy to become a full-service payments provider and serve a wider consumer base, buy now, pay later provider Sezzle Inc. on Monday announced a partnership with Alliance Data Systems Corp. to offer Alliance Data’s Bread installment-loan service to Sezzle merchants. The partnership builds on a deal …
Read More »The CFPB’s Order Asking for Payments Data From Six Big Tech Companies Stokes Controversy
The Consumer Financial Protection Bureau order handed down Thursday that asks Google, a unit of Alphabet Inc., Apple Inc., Facebook Inc., Amazon.com Inc., Square Inc., and PayPal Holdings Inc. to turn over information about their payments products, plans, and practices has industry observers lining up on both sides of the …
Read More »AmEx Posts a Strong Quarter As Its CEO Signals Caution on BNPL, Crypto, And Acquisitions
American Express Co. reported strong results Friday morning for its third quarter as its top executive said the company hasn’t exhausted its interest in acquisitions, though he added the New York City-based payments company is cool to the prospects for cryptocurrency as a medium of exchange. Chief executive Stephen Squeri …
Read More »Klarna Acquires Inspirock and other Digital Transactions News briefs from 10/22/21
International payments provider Klarna Bank AB acquired Inspirock, an online trip planner used by 25 million customers annually. Terms were not disclosed.In related news, Klarna said it is working with software-as-a-service platform provider Wix.com Inc. to enable Wix’s e-commerce merchants in 17 countries to accept payments through Klarna.Processor Lightspeed Commerce Inc. expanded its Lightspeed Capital program …
Read More »How Consumers’ Growing Adoption of BNPL Is Getting the Ad Dollars Flowing
The heady times for buy now, pay later just keep on rolling. Now, with 44% of consumers saying they have used BNPL options to make a purchase, according to personal-finance company Credit Karma LLC, providers of the point-of-sale financing have opened the ad-spending spigot. A new report from MediaRadar, a …
Read More »AmEx and Goldman’s Tie-Up and other Digital Transactions News briefs from 10/20/21
American Express Co. said it and Goldman Sachs Transaction Banking are collaborating on a cloud-based payments service for large corporate clients. AmEx’s virtual cards will be available in the Goldman Sachs TxB platform, which already offers automated clearing house, wire, and foreign currency payments.A study from Alliance Data Systems Corp. indicates 27% of …
Read More »Intuit Expands Its Payments Reach to Small Businesses And Takes Aim At Square
Sensing an opportunity to expand the reach of its financial services to more small businesses, Intuit Inc. on Tuesday introduced Money by QuickBooks, a mobile app intended to make it easier for small sellers to accept payment, manage their cash flow, and pay bills. Intuit launched the app in response …
Read More »Mastercard And Previse Team Up to Enable Same-Day Cross Border Payments
The movement to speed up cross-border payments received another boost Monday as Mastercard Inc. announced the integration of Mastercard Cross-Border Services, the card network’s global push payments platform, with Previse Ltd.’s InstantPay platform. The cross-border payments integration, which leverages machine learning, will enable companies to identify invoices likely to be …
Read More »Bakkt Acquisition a Step Closer and other Digital Transactions News briefs from 10/15/21
VPC Impact Acquisition Holdings, a special-purpose acquisition company, announced its shareholders approved VPC’s acquisition of Bakkt, thus taking the digital-asset marketplace public.Payments-technology provider Worldnet Payments said it is the first integrated payments platform to complete a Level III EMV and contactless certification of Ingenico’s Self Series of devices. Ingenico is a unit of Worldline S.A.Payments …
Read More »Eye on BNPL: Bonsai, Afterpay Ease Shopping on Publisher Sites; Opy USA’s Pay by Text Service
Shop Bonsai Inc., which provides in-app checkout technology under the Bonsai moniker, said it and buy now, pay later specialist Afterpay are making it easier for consumers to shop on an online publisher’s site without leaving the site. Announced Wednesday, the arrangement enables Bonsai shoppers to potentially reduce the checkout …
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