PYMNTS

NOVEMBER 2, 2020

In today’s top news in digital-first banking, BlockCard is teaming with peer-to-peer (P2P) bitcoin marketplace Paxful for a new crypto debit card, while the Federal Reserve Board has modified the terms of its Main Street Lending Program (MSLP). Ternio’s BlockCard Teams With P2P Bitcoin Marketplace Paxful for Crypto Debit Card.

Maine 148

Maine Lending Cards Bitcoin 148

Bank Innovation

JANUARY 31, 2020

This week, the Consumer Financial Protection Bureau filed suit against Citizens Bank, alleging violations of the Truth in Lending Act (TILA), including implementing Regulation Z and the Credit Card Accountability Responsibility and Disclosure Act.

Cards 259

Cards Lending Regulation Management 259

PYMNTS

APRIL 10, 2020

A quick recovery may be in the cards. Federal Reserve said that it had launched a multi-trillion dollar lending program that targets smaller businesses, and in a broadened salvo, targets local governments, too. The Fed program is focused on lending. But so might a “false start.”. Thursday morning, the U.S.

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Lending Maine New York Survey 338

PYMNTS

FEBRUARY 3, 2020

Goldman Sachs and Amazon are in discussions about the possibility of partnering for small and medium-sized (SMB) business lending in the U.S., Goldman would use its latest lending technology to offer SMB loans on Amazon’s lending platform as soon as next month, two sources told FT. Financial Times reported on Monday (Feb.

Lending 131

Lending Apple Cards Branding 131

PYMNTS

OCTOBER 1, 2020

Goldman Sachs has beat out competitor Barclays to buy General Motors (GM)'s credit card business, according to a report from The Wall Street Journal (WSJ). billion, and it furthers Goldman Sachs' push into Main Street lending. Without a well-known brand or branches, Goldman has turned to partnerships like the Apple Card , which had $4.5

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Cards Apple Lending Maine 264

PYMNTS

NOVEMBER 12, 2020

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. Selling the private-label credit card unit would be a business reversal for the financial services group. Wells Fargo also reported heightened debit card usage.

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Cards Conference Groups Report 285

PYMNTS

SEPTEMBER 20, 2020

Cape , a new Australian FinTech made up of professionals in finance, is debuting its new “recession fighting” credit card, powered by open banking and intended to allow access to new functions like buy now, pay later (BNPL), according to a report from AltFi.

Cards 254

Cards Fintech Management Lending 254

PYMNTS

JUNE 2, 2020

Plutus , a British FinTech startup, is providing rewards via its credit card to customers who buy from the eCommerce store of Nike , Cointelegraph reported. Users have to utilize the Plutus Visa card as they shop through the web to get the benefit. The rewards are made with Pluton, the native digital currency of the company.

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Bitcoin Lending United States Online 283

Bank Innovation

MAY 8, 2017

Affirm, the lending startup that provides loans at the POS, is looking into launching everyday-use virtual credit cards, Bank Innovation has learned. Once approved, consumers receive a one-time use virtual card via Affirm’s […].

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Cards Millennials Lending Innovation 255

Independent Banker

JUNE 30, 2022

As we kick off this year’s lending issue, I want to pause for a moment to reflect on just how much lending has changed. Remember, not that long ago, when a loan card was handwritten on a one-page form? You would just rip off the top sheet, fill out the terms and provide a description of the collateral.

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Lending Idaho Nevada Oregon 141

PYMNTS

OCTOBER 7, 2020

Smaller companies were the focus of innovation in the commercial card space this week thanks to new cards designed for small and medium-sized businesses (SMBs). American Express, Amazon Rollout Card For UK SMBs. American Express rolled out co-branded cards with Amazon for British SMBs.

Cards 248

Cards Innovation United States Branding 248

PYMNTS

APRIL 14, 2020

To roll out a completely managed small business lending offering that digitizes the end-to-end loan life cycle, application development technology firm Unqork has teamed with Deloitte. Ramadi continued, “This lending service addresses these inefficiencies by quickly getting small businesses the economic relief they need.”.

Lending 160

Lending Meeting Technology Security 160

PYMNTS

OCTOBER 7, 2020

Americans cut their credit card balances in August for the sixth consecutive month, the Federal Reserve System reported Wednesday (Oct. Revolving debt — mainly credit card debt — as reported by the central bank declined by $9.4 Economic forecasters surveyed by Bloomberg had, in the whole, predicted an increase in credit card spending.

Cards 178

Cards Lending Maine Survey 178

Abrigo

MARCH 14, 2024

You might also like this SMB Lending Insights report for banks and credit unions Download report Takeaway 1 Banks need to implement customer retention strategies to keep their valuable customers, not just attract new ones. Instead of just sending a card, take your business clients out to lunch for their birthdays.

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Lending Strategy Community Software 195

Independent Banker

OCTOBER 31, 2022

Digital lending capabilities are quickly becoming table stakes, particularly when it comes to small business lending. However, banks should first consider their customers’ needs and the infrastructure and features needed in a lending platform before adopting a new digital strategy. Benefits of digital lending.

Lending 91

Lending Community Bank Community Illinois 91

Bank Innovation

APRIL 10, 2018

EXCLUSIVE— Lending startup Upgrade is opening a new personal credit line today, designed to give customers all of the benefits of credit with none of its flaws. The product is essentially a cross between a typically credit card and a traditional personal loan, Renaud Laplanche, company CEO and c0-founder, told Bank Innovation.

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Lending Mobile Cards Innovation 186

PYMNTS

OCTOBER 8, 2020

Berlin's Mambu is partnering with New Zealand digital lending platform Ranqx , which will use Mambu's API-first digital banking platform to provide digital lending experiences, loan origination, decisioning and monitoring for small- to medium-sized businesses (SMBs), according to a press release.

Lending 141

Lending Customer Experience Digital Banking Innovation 141

PYMNTS

SEPTEMBER 24, 2020

is collaborating with Goldman Sachs Bank USA on digital transaction banking, while Sezzle has created a partnership with digital financial services company Ally Lending. BNPL Firm Sezzle Allies With Ally Lending To Expand Loan Options. Sezzle has formed a partnership with digital financial services company Ally Lending.

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Lending Analytics Technology Software 226

PYMNTS

OCTOBER 20, 2020

Zest AI , which is developing software that it claims will help wring the bias out of lending, just got a multimillion-dollar vote of confidence. In one of the most high-profile cases of machine bias, Goldman Sachs was hit with a major backlash after it launched the new Apple credit card. Zest on Tuesday (Oct.

Software 130

Software Lending Los Angeles Apple 130

PYMNTS

JULY 2, 2020

With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. Boost Bolsters BMO Harris Bank’s Biz Cards. Global Cash Card’s Legal Saga Ends. ADP Eyes Payroll Card Adoption Jump.

Cards 208

Cards New York Capital Compliance 208

PYMNTS

MARCH 25, 2020

Nexo , the digital currency lending platform, is now letting retail investors utilize PAX Gold as loan collateral, Cointelegraph reported. Last year, Nexo was launching a Mastercard-branded digital currency credit card that was to allow consumers to spend the value of their cryptocurrency.

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Lending Bitcoin cryptocurrency Cards 181

Payments Source

MARCH 24, 2020

Citi is beefing up leadership in its consumer card lending operations by recruiting Chase exec Pam Habner — credited with engineering the success of Chase’s Sapphire Reserve card — and former Citi exec Chris Fred, who will return after several months running the Apple Card business at Goldman Sachs.

Apple 122

Apple Cards Leadership Lending 122

PYMNTS

NOVEMBER 28, 2018

This week, the company announced the launch of its B2B payments network, which allows a small business to turn a check payment into usable funds via prepaid card. Since the 2008 financial crisis, B2B vendors have essentially morphed into financiers for their own customers, lending out goods and services as they wait months to be paid.

Lending 168

Lending Payments Cards System 168

PYMNTS

JANUARY 18, 2019

17) after markets closed that missed the Street, as merchant and services revenues were both below expectations, and write-offs tied to its lending business grew. Specifically, card member loan provisions were $679 million, up 21 percent from last year. Total cards in force were up 7 percent to 54.5

Lending 135

Lending Cards Groups Operations 135

Bank Innovation

JULY 12, 2016

Scandals aside, Lending Club has been doing well in the area that mattered — borrowers were paying back their loans. But a new report from the Wall Street Journal indicates that chargeoff rates at Lending Club are up 38% since 2013. This is troubling because credit card default rates decreased over the Read More.

Lending 150

Lending Cards Report Online 150

PYMNTS

OCTOBER 29, 2018

Capital One Financial and Discover Financial Services, two of the largest credit card issuers in the country, are tightening lending standards, which is reportedly an unusual move in an economy that is booming. The WSJ noted that 33 percent of Capital One’s domestic card balances are owed by consumers who are considered subprime.

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Capital Lending Cards Report 167

PYMNTS

JULY 10, 2020

Although commercial card products can offer working capital benefits on both ends of the B2B transaction, adoption lags behind other digital payment methods in accounts payable (AP) departments. And with the pandemic all but wiping out business trips, the commercial card could be at a crossroads. General acceptance is not there.

Cards 201

Cards Capital Payments Maine 201

PYMNTS

APRIL 25, 2018

Capital One logged stronger than expected results when it posted its earnings yesterday — the growth was driven largely by rising interest rates and an uptick in its largest lending categories, cars and cards. Supply of card credit is on the high side, although it has settled out a bit. billion from a year earlier.

Capital 100

Capital Lending Cards Taxes 100

BankBazaar

JANUARY 25, 2024

What have your Credit Card ’s ancestors been up to? There’s probably nothing new we can tell you about the Credit Card. Today, we’re aiming at remedying that, so we’re all left with a new-found respect for our spend-friends and who knows, maybe it’ll just inspire us to go find the right Credit Card to fit our finances!

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Cards Tools ATM Management 78

PYMNTS

OCTOBER 9, 2020

The pandemic has cast a chill across the loan process, but Matt Harris , co-founder and CEO of Bloom Credit , told PYMNTS that a lack of credit data and creative alternative solutions might be causing even more lending problems.

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Lending Data Compliance Tools 282

PYMNTS

NOVEMBER 4, 2019

That need for speed is also critical when it comes to loan disbursements , according to Paul Gu, co-founder and head of product for personal lending provider Upstart , as slow payouts can create frictions and frustrate customers. Disbursements in the Lending World. Instant Payments, Lending and New Technologies.

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Lending Industry Payments Cards 116

PYMNTS

SEPTEMBER 2, 2020

From flexible repayment plans for cash flow management to sustainability programs that offset carbon emissions from fleet vehicles, the commercial card is versatile in this week's innovation roundup. American Express is expanding its Pay Over Time offering on credit card bills to business cardholders in the U.S.,

Cards 150

Cards Innovation Management Tools 150

PYMNTS

AUGUST 2, 2019

To let consumers spend the value of their digital currency, instant crypto loan company Nexo is rolling out a cryptocurrency credit card that is Mastercard-branded. Additional credit is automatically and instantly available on the card upon appreciation of your crypto’s value.” dollar, the British coin and the Euro.

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Cards cryptocurrency Bitcoin Lending 175

The Financial Brand

FEBRUARY 4, 2024

This article Credit Card Watch: Balancing ‘Growth Math’ and Lending Risk appeared first on The Financial Brand. The meaning of 'normalization' and 'stabilization' in credit card lending depends on where you measure from.

Lending 18

Lending Cards Branding America 18

CFPB Monitor

DECEMBER 13, 2021

The report discusses the Bureau’s examinations in the areas of credit card account management, debt collection, deposits, fair lending, mortgage servicing, payday lending, prepaid accounts, and remittances that were completed between January 2021 and June 2021. Credit card management. Fair lending. Payday lending.

Lending 78

Lending Cards Regulation Payments 78

PYMNTS

SEPTEMBER 2, 2020

As consumers pay down credit card debt – in some cases with the aid of stimulus checks – and are ever wary about their financial situations, issuers have been muted when it comes to rolling out new cards. It may seem like a dubious time to introduce a new card. The card offers 3 percent cash back on dining and at drug stores.

Cards 283

Cards Report Lending Meeting 283

PYMNTS

JANUARY 22, 2020

Commercial cards remain only a fraction of the B2B payments space, but FinTech firms, banks and other financial service providers continue to develop new solutions aimed at boosting adoption. For companies like SmartEquip and Unified Payments Group , that means introducing new ways to lift the burden of suppliers accepting cards.

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Cards New York Lending Strategy 131