A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

Search Payments News

October 1, 2021

On the web

Card Issuers Resisted Slashing Credit Limits During Pandemic: CFPB

American Banker

“In a shift from the previous U.S. economic crisis, credit card issuers last year mostly avoided clamping down on their existing customers’ borrowing limits, according to a new report from the Consumer Financial Protection Bureau. The report, one of the most extensive analyses of credit card trends during the pandemic, found a significant tightening of credit availability as lenders lessened their appetite for new business. But the stricter credit criteria mostly appeared to affect potential new customers rather than existing ones, the CFPB’s biennial report to Congress on credit cards indicated.”

November 21, 2019

On the web

Personal loans are ‘growing like a weed,’ a potential warning sign for the U.S. economy

Washington Post

“Experts are surprised to see millions of Americans taking on so much personal loan debt at a time when the economy looks healthy and paychecks are growing for many workers, raising questions about why so many people are seeking an extra infusion of cash.  “Definitely yellow flares should be starting to go off,” said Mark Zandi, chief economist at Moody’s Analytics, which monitors consumer credit. “There’s an old adage in banking: If it’s growing like a weed, it probably is a weed.””

November 15, 2019

On the web

November 13, 2019

On the web

November 12, 2019

On the web

More Borrowers Are Going Underwater on Car Loans


“Some 33% of people who traded in cars to buy new ones in the first nine months of 2019 had negative equity, compared with 28% five years ago and 19% a decade ago, according to car-shopping site Edmunds. Those borrowers owed about $5,000 on average after they traded in their cars, before taking on new loans. Five years ago the average was about $4,000. Rising car prices have exacerbated an affordability gap that is increasingly getting filled with auto debt. Easy lending standards are perpetuating the cycle, with lenders routinely making car loans with low or no down payments that can last seven years or longer.”

August 7, 2019

On the wires

Verishop and Affirm Partner to Enable Customers to Shop Now and Pay Over Time

“Through Affirm’s consumer-friendly alternative to traditional credit cards, Verishop customers now have a simple, no-interest payment option1 allowing them to spread out the cost of a purchase over three easy, monthly payments. Whether a customer is redecorating their home, finding that perfect outfit or maintaining their beauty routine, the partnership with Affirm can help Verishop customers shop for all their lifestyle needs with confidence.”

June 19, 2019

On the web

June 13, 2019

On the web

June 4, 2019

On the web

How a Silicon Valley Startup Is Trying to Rebrand Payday Loans


“Once every few weeks, Myra Haq withdraws $100 or so from Earnin, an app that lets people borrow small sums of money. “I started using Earnin when I was a minimum wage intern so I could pay for [things like] the bus to work and food,” Haq said. Now that she’s no longer an intern making minimum wage — she currently works as a nanny, handles a children’s clothing company’s social media accounts, and sells clothing online — she still occasionally finds herself needing extra cash for doctor appointments or other unplanned expenses, and that’s where Earnin comes in.”

April 18, 2019

On the web

Why Mastercard Bought a Point-of-Sale Lending Platform


“As banks, merchants, and even tech companies offer consumers new and different ways to pay for stuff, credit card companies are trying to protect their role as the pre-eminent platform for everyday purchases by offering more buy-now-pay-later options. That’s why MasterCard paid an undisclosed amount this week for the point-of-sale loan platform Vyze, which lets consumers take small, short-term loans for everyday purchases without racking up credit card debt.”

April 15, 2019

On the web

April 9, 2019

Top Post

Kabbage Raises a Record $700 Million in Debt for Its SMB Loans Platform


“Valued at more than $1.2 billion after raising a big round from SoftBank in 2017 , the company has been picking up momentum in recent years, through its own direct-to-business proposition as well as through white-label services and partnerships such as the recent deal it struck with Alibaba to offer loans to merchants buying on its platform. Kabbage says it has now loaned more than $6.5 billion to over 170,000 small businesses on its platform since it was founded in 2009. The pace is accelerating for Kabbage: it loaned out $2 billion in 2018 and has already loaned out $600 million so far this year.”

March 22, 2019

On the web

4 Ways Fintech Has Changed the Lending Process – Experian Insights

Experian Insights blog

“The lending market has seen a significant shift from traditional financial institutions to fintech companies providing alternative business lending. Fintech companies are changing the brick-and-mortar landscape of lending by utilizing data and technology. Here are four ways fintech has changed the lending process and how traditional financial institutions and lenders can keep up:”

March 11, 2019

On the web

March 8, 2019

On the web

MegaFon Adds Loans to Its Mobile Banking App

NFC World

“The latest feature – Credit via Mobile – enables customers to use their smartphone to apply for credit from Russia’s largest financial institutions without having to visit a bank. The loan request is analysed and the approved funds are sent immediately to the customer’s mobile phone bank account.”

November 13, 2018

On the wires

October 29, 2018

On the web

October 24, 2018

On the wires

Payments News

Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.

Glenbrook Payments Boot camp®

Register for the next Glenbrook Payments Boot Camp®

An intensive and comprehensive overview of the payments industry.

Train your Team

Customized, private Payments Boot Camps tailored to meet your team’s unique needs.

OnDemand Modules

Recorded, one-hour videos covering a broad array of payments concepts.

Glenbrook Press

Comprehensive books that detail the systems and innovations shaping the payments industry.