But growing credit card borrowing comes with risks for issuers as delinquencies also rise
The BNPL product also includes customer safeguards that can help mitigate overextension concerns
A 2010 federal law prohibiting large FIs from charging excessive fees for basic customer service will now be enforced, raising questions about how much it might hurt profits.
Scoring merchant partnerships like this will be key to getting Paze off the ground
The digital wallet can help merchants reduce cart abandonment and bring in more payments volume for the issuer
Rising interest rates and a shift out of consumer products led the Wall Street bank to take a steep loss on the BNPL business
Higher rates could boost big commercial banks’ profits: But it’s likely to be a different story for investment banks as we kick off the Q3 earnings season this morning.
In a regulatory-wary environment, Synapses are firing: A defecting client led to layoff of 40% of the banking as a service platform provider’s employees. We unpack why BaaS is looking less and less like easy money for banks.
Launching 13 products can help Klarna capture more consumers as holiday shopping picks up steam
The feature can boost customer engagement with the wallet and help it better compete against Apple Pay and Google Pay, which already have similar functionality
This can help Amex compete against Visa and Mastercard in the country and capitalize on the market’s growing credit card volume
Metro Bank’s plight causes flashbacks to US regional bank failures: The UK bank’s plummeting stock price may also raise questions in the minds of investors and depositors about the health of its fellow UK challenger banks.
Assistive tech helps banks tap into the large, growing market of disabled customers and avoid monetary and reputational risks.
Credit losses are climbing, credit conditions are tightening, and consumer sentiment is on the decline
The new rewards can help offset growing dissatisfaction with credit card rewards
Past “anti-steering” lawsuits have had mixed success, but it could put a dent in the PayPal brand