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- JPMorgan Chase & Co. is the latest to join the buy now, pay later trend with “My Chase Plan,” which allows holders of Chase consumer credit cards to pay off purchases over time with no interest. A monthly fee applies.
- Debit card use in mobile wallets soared 58.6% for the week ending Nov. 8 compared with the year-ago week ending Nov. 10, said PSCU, a credit union service organization, in its latest Tracking Transactions Trends report.
- Contactless buy online, pick up in store continues to garner consumer attention with 36% viewing it as a cheaper alternative to traditional delivery, 34% viewing as faster than in-store shopping, and 32% seeing it as safer, found the “Deloitte’s Global State of the Consumer Tracker” survey of at least 1,000 consumers each in 18 countries.
- Rego Payment Architectures Inc. said it is testing its Mazoola digital wallet app as it moves the service closer to a commercial launch. Mazoola enables children to shop from parent-approved retailers, make peer-to-peer payments, and learn about financial literacy in a secure environment.
- Net Element Inc.’s third-quarter transaction volume was nearly flat with last year, with 2020 volume of $956.2 million compared with $953.7 million.
- American Express Co. added features to its Early Pay business-to-business payments service for U.S. users, including the ability to capture invoice discounts involving AmEx for buyers and the ability to offer invoice discounts for suppliers.
- The OLB Group Inc. announced its SecurePay payment gateway and its OmniSoft cloud-based business-management platform will be available to merchants selling cannabis- and hemp-derived products once U.S. regulators allow.
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