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- The Consumer Financial Protection Bureau said informal discussions between Rohit Chopra, CFPB director, and Didier Reynders, commissioner for Justice and Consumer Protection of the European Commission, have started on a range of financial consumer protection matters, including the deployment of AI in decision making, BNPL products and their risks, consumer debt issues, ensuring fair choice and data protection, and implications associated with technology companies offering financial services, including payments.
- Cross-border e-commerce payments will reach $3.3 trillion in value by 2028, forecasted Juniper Research, more than doubling from $1.6 trillion in 2023.
- Guidefitter, an online marketplace for outdoor enthusiasts, will offer buy now, pay later options through Credova, a financing platform specializing in outdoor products.
- The cryptocurrency wallet OKX has integrated the public blockchain Pulsechain, said to offer a fast block time of 10 seconds for transactions.
- Digital-commerce platform Wynshop announced it has won approval from the USDA Food and Nutrition Service to process SNAP/EBT payments.
- U.S.-based payments-technology provider Bottomline said it is supporting a payer-name verification service for Pay.UK to ensure payments are being drawn from a named account holder for processing direct debits.
- Mastercard Inc. named Rob Beard its chief legal officer, general counsel, and head of global policy. Beard most recently was general counsel at Micron Technology.
- Buy now, pay later provider Zip Co Ltd. named Andy Stearns senior vice president and head of merchant business. Stearns most recently was an executive at Capital One in its business cards and payments organization.
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