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JPMorgan Takes On Square And PayPal At The Point Of Sale

PYMNTS

Using QuickAccept, SMBs can take payments through a mobile app or contactless card reader and get the funds instantly, with no fee. Before Square, launched by Twitter co-founder Jack Dorsey in 2009, SMBs had a hard time maneuvering point-of-sale (POS) card transactions. 21) CNBC report. Square, for example, charges a 1.5%

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As Consumers Take On More Debt, Credit Card Losses Rise

PYMNTS

consumers become more comfortable with carrying higher levels of debt, the biggest credit card companies reported an increase in chargeoffs in their portfolios during the first quarter of 2017. According to American Banker , the results suggest that the post-crisis era of exceptionally low losses in the credit card industry has ended.

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U.S. Credit Card Delinquency Rates Inch Higher

PYMNTS

Credit card delinquencies increased for three consecutive months, adding to signs that consumers in the U.S. According to a news report in Reuters , credit card data from the likes of JPMorgan and Discover Financial Services on Monday (Oct. Meanwhile, Discover saw credit card delinquencies increase by 1.64 percent from August.

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Big Banks Surge Amid Strong Holiday Spending

PYMNTS

RBC Capital Markets analyst Gerard Cassidy predicted the gains will extend into 2020. Stocks at banks have been outperforming the broader market as a whole, as the KBW Bank Index rallied 33 percent, and the S&P 500 rallied 29 percent. People like their credit cards,” said Jamie Dimon, CEO of JPMorgan Chase.

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Wild Cards? Gambling, Payroll, Other Models Provide Fresh Fuel For Prepaid

PYMNTS

Cards (as in prepaid, stored-value cards that consumers can use for gambling, payroll and a variety of other uses, many of them novel) are only half the battle. To get a sense of how the world of payments and cards has changed, Cregan told Webster a story about a conference he attended in Las Vegas in 2009.

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Afterpay Reaps Benefits Of BNPL With Best Q4

PYMNTS

Given the ongoing impacts from COVID-19 and the uncertain global economic conditions, we have continued to focus on preserving capital and maintaining a strong balance sheet.”. The company is exploring a number of small mergers and acquisitions to accelerate roll out across potential new international markets. Total sales were $11.1

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Branches more important than apps?

Chris Skinner

Building on my challenger bank discussions, there’s some interesting points coming out of a new report by Price Waterhouse Coopers (or Playing the Wrong Cards as they’re now called, after the Oscars) on challenger banking. It’s well worth a read, especially as they found that having branches is more important than mobile apps.