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Top News In Payments: The Fed Takes A Closer Look At Big Tech; Goldman CEO Denies Apple Card Credit Bias Claims

PYMNTS

In today’s top payments news, ongoing security concerns have caused the Federal Reserve to take a closer look at the Big Tech firms that serve the banking industry. President Barack Obama is warning about the potential negative impact that technology can have on society. Goldman CEO Denies Claims Of Apple Card Credit Biases.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Afterpay does not perform a hard credit check on users, but it can still affect credit if users have a credit card as the form of payment connected to their Afterpay account or if they fail to pay back their loans. Notable merchant partners include Best Buy, Home Depot, and Target.

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June’s Top 12 Mobile Pay Moments

PYMNTS

On June 9, JPMorgan Chase recently announced that it secured a multi-year deal with Shell to accept Chase Pay at all of its gas stations. Now, as part of its new deal with Shell, it appears Chase is on its way to securing more support for its mobile wallet service that’s likely to be launched into market soon. million users in 2016.

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MetaBank, Fiserv To Issue Preloaded Visa Cards For Stimulus Payments

PYMNTS

Treasury will allow two financial technology companies to issue prepaid Visa cards loaded with coronavirus stimulus payments. Reuters reported its sources confirmed MetaBank of South Dakota and Wisconsin-based Fiserv got the go-ahead following lobbying of the Internal Revenue Service (IRS) by payment industry groups.

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Fintech Fundings: 20 Companies Raise $175 Million Week Ending Nov 6

Fintech Labs Insights

HQ: Sioux Falls, South Dakota. Mobile payments technology. Blockchain technology. Bitcoin debit card (e-coin). Tags: Consumer, debit card, payments, cryptocurrency. Source: Crunchbase. Expansion Capital Group. Small business alt-lender. Latest round: $25 million Debt. Total raised: $37.1 Source: Crunchbase.

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