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Ant Group Curbs Credit Limits Of Some Users Of Virtual Credit Cards

PYMNTS

That arm of the financial technology (FinTech) giant offers a virtual credit card. Ant’s highly profitable activities include making microloans, repackaging them and then tapping the public market to sell those loans. The company did not elaborate. “Any

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Mastercard, EedenBull Extend Into Asia Pacific

PYMNTS

Mastercard and Norwegian financial technology (FinTech) company EedenBull have agreed to expand their partnership to the Asia Pacific region, the firms announced Monday (June 29). Last month, PYMNTS reported EedenBull rolled out its commercial card platform to banks to take advantage of improved B2B payment capabilities.

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Credit Card Interest Rates Rise To Near-Record Levels

PYMNTS

The average interest rates on credit cards are nearing record levels, in spite of a 50-basis-point decline on a 10-year note yield. However, the distance between an average annualized rate and a prime rate on credit cards is getting bigger; at the end of August, it was almost at its largest amount ever. million in Q2.

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Wirecard, Ctrip Roll Out Multi-Currency Card; Missguided Launches ‘Pay Later’ Option

PYMNTS

Coverage includes the launch of Wirecard and Ctrip ’s multi-currency Visa cards for customers in China. Digital financial technology company Wirecard and online travel agency Ctrip are rolling out multi-currency Visa cards to Ctrip customers in China, Wirecard said in an announcement. In addition, U.K. ”

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FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

Revolut attributed the losses to its expansion into new markets and the introduction of new products. Revolut , one of the biggest players in the crowded financial technology (FinTech) sector, has yet to make a profit. The company posted a total loss of $139.6 million (£106.5 million) in 2019 — up from £32.9

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Afterpay does not perform a hard credit check on users, but it can still affect credit if users have a credit card as the form of payment connected to their Afterpay account or if they fail to pay back their loans. The Congressional House Financial Services Committee held a hearing last fall, “Buy Now, Pay More Later?

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How can a bank guarantee its future?

Chris Skinner

So it’s interesting how we’ve spent the last five years talking about sandboxes, creativity and design in financial technologies. The idea is to innovate outside the markets. I guess this is also why I see so many major banks investing in innovation as a marketing program, rather than as a serious venture to change the bank.