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May 24, 2024

On the web

On the wires

May 23, 2024

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On the web

The CFPB Should Recognise Key Differences Between BNPL and Credit Cards

Klarna

"The Consumer Financial Protection Bureau (CFPB) issued new interpretive guidance relating to Buy Now, Pay Later regulations in the US. From our initial read, this announcement does not require any major changes to Klarna’s business and we consider today’s announcement to be a significant step forward in getting BNPL regulation in place in the US."

The American “Digital Ghost”: Lack of Financial Footprint Locks Millions Out of the Modern Economy, Socure Research Shows

Socure

"Despite growing up online and being recognized as digital natives, more than a third (35%) of American Gen Zers — or 22.9 million people – are Digital Ghosts. This portion of Gen Z lacks a digital financial footprint or credit history, which holds them back from accessing life-improving services from financial institutions and the government such as student loans, bank accounts, financial aid and credit cards."

May 22, 2024

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On the web

Centrobill Champions Fully Licensed PIX Payments in Brazil with Competitive Fees

PR Newswire

"Today Centrobill announced its offering of fully licensed PIX payments in Brazil in a strategic move to dominate the Brazilian fintech market. The PIX payments initiative offers a 24/7 transaction window ensuring immediate processing, consolidating Centrobill as the preferred choice for businesses seeking competitive payment solutions and compliance with strict regulations in Brazil."

US Real-Time Payments Are in Their Early Days, but Show Steady Growth

The Banker

"Ever since the UK launched its own system — Faster Payments — in 2008, real-time payment schemes have been on a continuous march across the globe. Whether spurred by a regulatory mandate or driven by market forces, instant payments are now established in Australia, Singapore and Brazil, among other countries."

Google Pay Will Now Display Card Perks, BNPL Options and More

TechCrunch

"Google Pay is rolling out a number of updates that capitalize on its integrations with other Google products, like Android and the Chrome browser. Starting Wednesday, people who check out with Google Pay will be able to see their card benefits and perks before selecting a card; use “buy now, pay later” through partners like Affirm and Zip; and fill in their card details through biometrics or a PIN, instead of by entering their security code."

May 21, 2024

On the web

Market Review of Card Scheme and Processing Fees Interim Report [UK]

Payment Systems Regulator

"Cards are the most popular way for consumers to pay for goods and services in the UK, so it is crucial that the market works well. Every time people use a Mastercard or Visa debit or credit card for transactions with UK businesses, UK businesses pay scheme and processing fees, some of which are mandatory or core and some of which are optional."

On the wires

May 20, 2024

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On the web

Move Over, Armani: Italy’s It Wallet Is the Digital ID Accessory of the Season

Biometric Update

"Bravo to Italy for the forthcoming launch of its digital wallet scheme, clearing the path for a national digital identity program. Reports say the so-called It Wallet will roll out in January 2025, aligned with the framework of the European digital identity wallet (EUDI) and activated through Italy’s electronic identity card (CIE) or SPID digital identity system."

May 17, 2024

On the web