CFPB says BNPL firms must comply with credit card consumer protection rules for billing disputes and refunds
Ruling Overview:Agency: US Consumer Financial Protection Bureau (CFPB).
Decision: Designates buy now, pay later (BNPL) firms as credit card providers.
Reasoning: BNPL...
LGT in Liechtenstein taps Finastra for instant payments
Partnership Announcement:Entities Involved: LGT (private banking and asset management group) and Finastra (provider of financial technology solutions).
Objective: Launch instant payment services....
Spanish paytech PayRetailers acquires Transfeera to drive Brazilian expansion
Overview:Acquirer: Spanish paytech PayRetailers.
Target: Transfeera, a Brazilian platform for payment processing and bank data validation.Details of the Acquisition:Assets Acquired: Transfeera’s technology,...
Santander and Iberpay in Spain join EPC’s OCT Inst scheme as inaugural participants
Overview:Participants: Spanish banking giant Santander and payment services firm Iberpay.
Scheme: One-Leg Out (OLO) Instant Credit Transfer (OCT Inst) by the European Payments...
Avidbank partners Corserv to launch commercial credit card programme
Avidbank in the USA partners with Corserv to launch a new credit card offering for commercial clients.Corserv’s Role:Corserv’s Account Issuer...
Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub
Commerce Bank Modernisation Strategy:Commerce Bank, headquartered in Kansas City, has gone live with the FedNow instant payments service.
This is part of...
French fintech Lydia launches digital banking app Sumeria
Company Overview:French fintech start-up Lydia.
Originally launched in 2013 as a P2P payments app.
Currently serves 8 million users in France, Spain,...
WaFd Bank to deploy Fiserv’s CashFlow Central for small business customers
WaFd Bank Partners with Fiserv:US-based WaFd Bank has collaborated with Fiserv to deploy a new digital payment and cash flow management solution...
CFPB fines Chime $3.25m for customer refund delays
Chime Fined by CFPB:US fintech Chime has been fined $3.25 million by the Consumer Financial Protection Bureau (CFPB) for delays in issuing...
