Friday , February 23, 2024

CFPB’s Hot Buttons And Other Digital Transactions News briefs from 1/31/23

  • Banking and payments professionals should watch for action from the Consumer Financial Protection Bureau on key areas such as open banking, credit card late fees, fintech partnerships, and buy now, pay later plans, warns Strategic Resource Management, a consulting firm.
  • American Express Co. released its American Express Business Blueprint, a digital cash flow management service for small businesses.
  • Square, a unit of Block Inc., released its “Future of Commerce” report that found 20% of restaurant revenue comes from products and services outside of their core offerings. In Canada, the report found that 53% of Canadian retailers are devising entirely separate marketing tactics for Gen Z customers, those born between 1997 and 2012.
  • Faster-payments provider Sionic said it will work with payments-technology provider SpacePointe to offer Sionic’s Pay-by-Bank real-time payments service, which enables bank-to-bank digital cash transfers at the point of sale in the U.S. market.
  • The fintech Scratch Financial Inc., which specializes in payments services for the health-care industry, said it will work with financing and payments platform Wellfit Technologies Inc. to offer Scratch’s payment options, including buy now, pay later for dentists, on Wellfit’s marketplace.
  • The cryptocurrency exchange BIT will work with digital-currency platform Circle Internet Financial to convert customers’ fiat money into Circle’s USD Coin, a stablecoin.
  • ATM maker Hyosung America has rebranded as Hyosung Innovue.
  • Fiserv Inc. said it received regulatory approval from the Monetary Authority of Singapore for its First Data Merchant Solutions Private Ltd. unit to provide merchant acquisition services and domestic and cross-border money transfer services.
  • Business-to-business payments provider AvidXchange Holdings Inc. named Dan Drees president and James Sutton as chief revenue officer. Drees had been the company’s chief growth officer since 2018. Sutton had worked at Salesforce, Gusto, and Google.

Check Also

Eye on POS Tech: POS Nation Acquires GrazeCart; Toast Signs Caribou Coffee

Point-of-sale technology provider POS Nation has acquired e-commerce platform GrazeCart for an undisclosed sum. The …

Digital Transactions