Payments

Executives at JPMorgan Chase, Capital One and U.S. Bancorp all spoke this week about plans to take on upstarts that offer interest-free financing on consumer purchases. The increased competition figures to result in tighter margins across the category.

The trust includes a 36-month revolving period that will allow it to purchase additional receivables as it collects principal.

Dryrock’s collateral maintained strong performance numbers for the past 12 months, with higher monthly payment rates and fewer chargeoffs compared to last year.

Hailing from Canada, the upcoming credit card deal will draw from a pool with very low rates of delinquency, total net losses and charge offs.

The bank, which helped launch the real-time network for peer-to-peer payments, is trying to duplicate that success by helping corporate clients process certain transactions instantly with wholesale partners and, in some cases, retail customers.

The card network and telco are designing systems that use 5G to support more payment processes hosted in the cloud rather than on local hardware. The goal is to make services such as autonomous checkout available to small businesses.

Banks and creditors have spent years trying to remove obstacles to presentment and payment, but some consumers say they would still rather step on a Lego brick than pay a bill, according to PayNearMe research.

There’s a new unicorn in Latin America: Clip, a payments fintech in Mexico targeting small and midsize companies.

The agency announced it was rescinding seven policy statements issued last year meant to help companies combat fallout from COVID-19 but that the bureau's current chief said came at the expense of consumers.

The agency announced it was rescinding seven policy statements issued last year meant to help companies combat fallout from COVID-19 but that the bureau's current chief said came at the expense of consumers.

Like other card issuers, the Stamford, Conn., company expects current trends — soft loan demand but strong credit quality — to reverse later this year as the economy emerges from the pandemic-induced recession.

U.S. credit card delinquencies reached record-low levels in 2020, as Americans took advantage of stimulus checks and adjusted their spending habits, according to a new report.

U.S. consumer borrowing rose in October by less than forecast, reflecting a decline in credit card balances as the pandemic continued to limit some purchases.

Wells Fargo is exploring selling a unit offering store-branded credit cards as the bank chooses businesses to keep or break off in a broad strategic overhaul, according to people with knowledge of the matter.

Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.

Lenders have spent months puzzled by the persistently low delinquencies on their credit cards. Now, they’re seizing the moment.

The performance of U.S. credit card securitizations is continuing to improve, according to Fitch Ratings, but the asset class's ongoing health will depend significantly on what emerges from political squabbles in Washington, D.C.

American Express Co. is acquiring the teams and technology behind the online lender Kabbage Inc. as the credit-card giant seeks to provide more loans and other services to small-business owners.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

The CEOs of the credit card lenders Discover and Synchrony are urging Congress to come through with another round of government stimulus so that struggling households can continue paying their bills.