BNPL payments now reflected in credit reports
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On Monday, Equifax started adding “pay-in-four” installment loans to its credit reports. Experian and TransUnion said they would roll out similar developments this year as well.
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Fintech News Stories
Will sanctions affect trust in payments networks?
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Visa and Mastercard have blocked several Russian financial institutions from its payments systems. A run on Russian banks has begun.
Read MoreWhat follows Russian exclusion from SWIFT?
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In a joint statement on Saturday, the U.S., U.K., E.U., and others announced that they would move to exclude “selected Russian banks” from SWIFT, the international payments system. The group of countries has also frozen assets belonging to Russia’s central bank in response to the country’s invasion of Ukraine.
Read MoreBaltic states, Poland, UK call for Russian removal from SWIFT
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Hours into the Russian invasion of Ukraine, the foreign ministers of Estonia, Latvia, and Lithuania encouraged “disengaging Russia from SWIFT,” the international payments system. Polish and UK officials echoed these calls as well.
Read MoreDelta to offer BNPL option through AmEx
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Through AmEx’s Plan It BNPL tool, AmEx U.S. Customer Card members can now split payments made on Delta.com. The airline’s app will offer the same feature this spring.
Read MoreRoblox stock tumbles by 25%
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In a settlement with regulators, BlockFi agreed to register with the SEC and pay $100M in federal and state fines. It plans to launch an SEC-approved crypto interest-bearing security.
Read MoreDiscover to offer non-card payments
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Through a partnership with fintech Buy It Mobility Networks Inc. (BIM), Discover will let merchants accept payments directly from consumers’ bank accounts. The feature is popular in Asian markets.
Read MoreIs BNPL facing a reckoning?
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Regulators in the U.S. and U.K. have voiced greater interest in reigning in BNPL providers. Consumer rights groups warn that consumers do not realize that they’re assuming debt through these services.
Read MoreFacebook Messenger debuts ‘split payments’ feature
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Launched yesterday, the feature lets users split bills evenly or in customized amounts through Facebook Pay. Facebook had publicly tested the feature for two months.
Read MoreAmEx debuts all-digital checking account
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Launched yesterday, the checking account and its debit card offer rewards, round-the-clock support, and purchase protection. It’s the company’s first checking account for consumers.
Read MoreWirex brings crypto-linked Visa cards to U.S.
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The London-based crypto payments platform has officially launched in the U.S. Wirex was the first to let customers make payments through prepaid Visa debit cards that are linked to crypto wallets.
Read MoreFollowing PayPal, Meta shares tumble 26%
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Meta, the company formerly known as Facebook, reported disappointing fourth-quarter earnings as well as its first-ever decline in users. The company’s market capitalization tanked—sliding from $898.5B to $668.4B.
Read MoreFacing scams and turbulent market, PayPal shares dip 25%
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The payments giant announced that it had closed 4.5 million “bad actor” accounts that had taken advantage of PayPal rewards programs. In addition, its payments volume only rose 23% in Q4, the smallest increase in two years.
Read MoreCan Monzo succeed in the U.S.?
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The U.K. digital bank officially launched its full-fledged product in the U.S. on Tuesday. Users can apply online for an account within 10 minutes, the company said.
Read MoreT-Mobile offers True Name service for debit cards
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With Mastercard as a payments partner, T-Mobile now lets people use their chosen name on the company’s debit cards. The service follows a similar service to let customers have their true names displayed on caller ID.
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