Technology: Page 2

Feds increase scrutiny of buy now-pay later

The Consumer Financial Protection Bureau is concerned about consumers taking on too much debt, and about BNPL providers evading laws. As a result, it's demanding information from five of the biggest players in the emerging industry.

By Lynne Marek , Jonathan Berr , Caitlin Mullen • Dec. 16, 2021

Klarna extends BNPL to all online retailers

After acquiring the Dutch marketing software company Piggy, the Swedish buy now-pay later company is folding automatic couponing and price drop notifications into its offering and expanding the reach of its services.

By Tatiana Walk-Morris • Dec. 15, 2021

Gen Zers relied on buy now-pay later for holiday shopping. It's time to pay up.

Look up #Klarna, #Afterpay or #Affirm on the social media site TikTok. Beneath some of those BNPL provider hashtags are videos of teens dancing and lip syncing to viral sounds, with the balances they owe in the background.

By Maria Monteros • Dec. 15, 2021

Card industry faces $400B in fraud losses over next decade, Nilson says

Fraud-fighting efforts kept card industry losses at bay last year, according to Nilson Report, but the research firm says don’t expect the same when this year wraps up. "The decline in the dollar amount of fraud losses in 2020 will not be repeated in 2021," the report said.

By Caitlin Mullen • Dec. 14, 2021

Corcentric to grow through SPAC

Payments technology company Corcentric aims to grow, including internationally, by way of a merger with a special purpose acquisition company that will raise capital and take the business public.

By Lynne Marek • Dec. 13, 2021

Three payments "resolutions" that no company can afford to skip

Learn the three payments "resolutions" that every company must make to ensure their customers never face a moment of friction at the check-out screen.

Dec. 13, 2021

Crypto execs urge regulation tailored to risks

They told lawmakers at a Wednesday hearing on Capitol Hill that nothing short of U.S. leadership in the field of digital assets is at stake.

By Dan Ennis • Dec. 10, 2021

Fintech firms lock arms for new standard

Digital finance company Plaid is leading a group of fintechs, data security companies and compliance firms in developing a new standard to protect confidential consumer data from hackers.

By Jonathan Berr • Dec. 9, 2021

Discover mulls more BNPL services

Discover Financial is brainstorming how to extend its buy now-pay later services beyond a partnership with Sezzle, CEO Roger Hochschild said at an investors' conference this week.

By Lynne Marek • Dec. 9, 2021

Will crypto wages catch on?

NFL star Odell Beckham and Miami Mayor Francis Suarez may grab headlines by taking salaries in bitcoin, but can companies pitching crypto pay services make inroads with average wage-earners?

By Ted Jackson • Dec. 8, 2021

For hourly workers, the paycheck is the enemy

The magnitude of financial precarity in America is staggering. This is why employers have a responsibility for the financial health of their workers.

By David Baga • Dec. 8, 2021

Coinbase president seeks "rules of the road"

At a Tuesday conference, Emilie Choi reiterated the company's call for a single regulator to oversee the emerging digital asset industry. She also said the company remains on the hunt for acquisitions.

By Caitlin Mullen • Dec. 8, 2021

Bank groups spell out payments industry concerns

"Consumers can make better-informed choices if they more fully understand a big tech’s ability to collect and use a consumer’s financial transaction data, or directly and regularly access their bank account using their sign in and password," the trade groups say.

By Jonathan Berr • Dec. 8, 2021

New York Fed, BIS partner on fintech research center

The innovation hub is meant to support the U.S. central bank's analysis of digital currencies, including CBDCs, and to help make cross-border payments faster and less expensive, Fed Chair Jerome Powell said.

By Robin Bradley • Dec. 7, 2021

Buy now-pay later orders rise 34% in holiday season, Afterpay says

The company also said user spending online rose 30%, with more Gen Z shoppers using the service between Black Friday and Cyber Monday.

By Tatiana Walk-Morris • Dec. 6, 2021

Will Stax acquisition of CardX mean more surcharging?

With the Stax acquisition of CardX last week, the combined company plans to scale its mission of bringing surcharging tools to more merchants.  

By Lynne Marek • Dec. 6, 2021

Hackers sell stolen US cards at dirt cheap prices

"Even though the biggest number of card details found for sale were from these 3 countries, this doesn’t mean that they are the most vulnerable," a cybersecurity company report on the topic said.

By Jonathan Berr • Dec. 6, 2021

SEC Chair Gensler to crypto platforms: Come to us before we come for you

The SEC head called on digital asset exchanges to register with the agency, citing concerns for "vulnerable" investors. "If we don’t address these issues, I worry a lot of people will be hurt," he said.  

By Caitlin Mullen • Dec. 3, 2021

Crypto execs to face House panel next week

Executives from crypto firms Coinbase and Circle are among those in the line-up for a Dec. 8 discussion of "the challenges and benefits of financial innovation" as House lawmakers seek answers.

By Robin Bradley • Dec. 3, 2021

Diem co-creator Marcus to leave Facebook parent Meta

David Marcus, who has spent the past three years working on the social media giant’s stalled cryptocurrency project, Diem, said he is leaving the company at the end of the year to pursue other projects.

By Anna Hrushka • Dec. 2, 2021

Square takes a new moniker: Block

No sooner does Jack Dorsey arrive full-time at Square than the company decides it needs a new name. The corporate parent will become Block, but keep the Square brand for its digital payments business.

By Lynne Marek • Dec. 1, 2021

PayPal offers Wix merchants BNPL options

PayPal began offering Wix merchants in the U.S. its buy now-pay later and credit services last month for the first time. Wix merchants in the United Kingdom and France will also have access to the services in "coming months," the companies said.

By Lynne Marek • Dec. 1, 2021

Senate banking chair queries crypto CEOs

The complexity of stablecoins makes it difficult for investors and consumers to fully understand their potential risks, Sen. Sherrod Brown, D-OH, said in letters to eight issuers and exchanges, including Coinbase and Tether.

By Anna Hrushka • Nov. 29, 2021

Mastercard buys payments processor Arcus FI, expanding in Latin America

Mastercard said the acquisition will allow it to "help support the delivery of bill pay solutions and other real-time payment applications across Latin America."

By Jonathan Berr • Nov. 24, 2021

KeyBank buys XUP to bolster merchant payments services

The acquisition will help the bank address challenges regarding its legacy infrastructure, and create a streamlined experience for its merchant clients, KeyBank’s head of commercial product and innovation said.

By Anna Hrushka • Nov. 24, 2021