PYMNTS

APRIL 4, 2018

For the 47 percent of Americans with prime credit scores, getting and using a credit card isn’t much of a problem. The problem, Petal co-founder and CEO Jason Gross told Karen Webster, is that it leaves around half of all Americans with only a few options: a credit card with expensive strings or no credit at all.

Credit Cards 53

Credit Cards Underwriting Product Regulations 53

PYMNTS

SEPTEMBER 20, 2018

Banks offer credit limits to borrowers that would seem punitively low in much of the Western world, so there is a pent-up demand for online alternatives. The opportunity is also gigantic, Cheng told Webster, given that the country has some 800 million working adults, with less than half of them in possession of a credit card.

P2P 66

P2P Credit Cards Online and Mobile Banking Credit Limit 66

PYMNTS

NOVEMBER 2, 2018

That means the big opportunity for X Financial comes from the 400 million or so Chinese consumers who have credit cards, but are hampered by limits that are too low. X Financial’s offerings include a balance transfer credit card product and an unsecured, high-credit-limit loan product.

P2P 53

P2P Credit Cards Underserved Credit Limit 53

FICO

OCTOBER 19, 2022

Analysis of the largest consortium of UK cards data and trends shows the percentage of consumers using their credit card to take out cash steadily increasing over the three months – a clear indicator of financial stress and future risk as the interest charged for cash on credit cards is always higher than standard purchases.

Risk 52

Risk Credit Cards Advisors Card Issuer 52

Fintech News

MAY 28, 2024

Build Credit “On-Ramps” One of Nubank’s most impactful initiatives has been its credit “on-ramp” program, which helps customers with little or no credit history build their creditworthiness over time.

APACS 128

APACS Financial Inclusion Online and Mobile Banking Disaster Recovery 128

FICO

DECEMBER 11, 2018

Enhancing Credit Assessment for Existing Customers. LIFECARD, a credit card company with more than 5.7 million accounts, is the first lender in Japan to adopt the FICO® Score to enhance its credit assessment for existing customers. Scoring Innovation in the Japanese Market.

Credit Limit 40

Credit Limit Credit Cards Assessments Credit Risk 40

PYMNTS

JUNE 25, 2018

With so much money up for grabs, it may come as a surprise that startups often struggle to get approved for a credit card, even after a lucrative funding round. ” He emphasized that startups and SMBs cannot be lumped in the same category, particularly when it comes to assessing how these companies spend cash.

Credit Cards 52

Credit Cards Commercial Card Small Business Assessments 52

PYMNTS

SEPTEMBER 29, 2020

Credit unions of various sizes were eager to roll out credit card innovation plans before the COVID-19 pandemic’s onset. Credit unions’ reasons for wanting to innovate these products varied, too, but more than 70 percent said they aimed to do so to support the demands of potential new members. Another 21.6

Credit Union 56

Credit Union Debit Card Credit Cards Innovation 56

PYMNTS

MAY 29, 2018

FICO was an ideal fit for the FCRA world, and has been the dominant credit scoring model in the United States for over four-and-a-half decades as a result. Without a reasonable FICO score, home buying (with mortgages) auto-loans, credit cards and even simple checking accounts all become out of reach for consumers.

Financial Inclusion 62

Financial Inclusion Underwriting Credit Cards Disputes 62

FICO

MAY 7, 2019

The Financial Conduct Authority of the United Kingdom (FCA) has recently introduced new rules to avoid long-term indebtedness of credit card holders. The 18-month period is reset if the card balance falls below £200. For products which accrue substantial fees, these might need to be considered for the minimum payment as well.

Regulations 40

Regulations Credit Limit Card Issuer Issuers 40

EBizCharge

JUNE 20, 2024

Credit cards, bank transfers, online payment platforms, and even no-fee credit card processing options can provide convenience, leading to quicker payment realization. Offer multiple payment options Offering various payment methods will make it easier for customers to pay and reduce payment delays.

Best Practices 52

Best Practices Accounts Disputes Procedures 52

Nanonets

SEPTEMBER 1, 2023

Over time, business payments have evolved from ACH to wire transfers and credit cards, culminating in the emergence of FedNow. Depending on your business's unique circumstances, you now have options like ACH, virtual cards, and tailored online methods for vendor payments.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52

FICO

OCTOBER 11, 2019

While the majority of attendees understood that having excessively high debts was not good for their credit score, there was a sizable percent of participants who incorrectly assumed that closing down inactive credit cards is a positive action that will increase their score (in reality, this action can result in a score decrease).

Credit Cards 40

Credit Cards Accounts Assessments Credit Limit 40

The Fintech Times

OCTOBER 30, 2024

They must also use other data, such as rental payment history in the UK, to assess consumers’ suitability for mortgages. “BaaS-enabled dynamic credit limits allow credit terms to be adjusted using real-time financial health indicators. “BaaS can enable credit building too.

Financial Inclusion 59

Financial Inclusion Embedded Finance Non-Bank Consumer 59

Nanonets

MARCH 28, 2024

Most vendors offer net 90 terms only in certain circumstances, often relying on external credit reporting agencies to verify a customer’s financial standing. Let’s assess what net 90 actually means, discuss how business leaders can secure these agreements, and comb through a list of net 90 vendors that are operating now.

Small Business 52

Small Business Accounts Checks Multi-Currency 52

PYMNTS

NOVEMBER 28, 2017

Even with access to credit products, the financially strained – the aforementioned consumer with less than $1,000 in the bank who suddenly has a medical emergency to the tune of $2,500, for example – find it tough going. Data Point Three: 10,000.

Credit Limit 40

Credit Limit Consumer Credit Cards Assessments 40

Nanonets

SEPTEMBER 22, 2023

This involves setting up credit policies that assess the creditworthiness of customers and establish clear payment terms. Credit Policies One of the first steps in effective accounts receivable management is establishing clear and effective credit policies.

Accounts 40

Accounts Disputes Automation Risk 40

PayHawk

APRIL 18, 2023

Address Verification System (AVS) A system that compares the billing address provided by the cardholder with the address on file with the card issuer to verify the authenticity of a transaction. Annual Percentage Rate (APR) The annual interest rate charged by a credit card issuer on outstanding balances.

Process 52

Process Card Issuer Online and Mobile Banking Issuers 52

CB Insights

DECEMBER 4, 2019

In March 2019, Amazon announced an integration with Worldpay , which serves as a back-end intermediary between banks and credit card companies and is one of the largest payment processors in the world. Future Developments: In 2018, Amazon extended the 5% cash back reward to purchases at Whole Foods on the Prime Rewards Visa Card.

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

Nanonets

JUNE 29, 2023

By combining a user-friendly software platform with a dedicated card, Divvy enables businesses to streamline their financial processes, save time, and reduce costs. The integrated solution automates expense reports, budgets, and reimbursement processing, eliminating the need for manual reconciliation of credit card statements.

Payment APIs and Integration 52

Payment APIs and Integration Online and Mobile Banking Automation Push-to-Card 52

Fintech News

SEPTEMBER 4, 2024

India’s remarkable BNPL growth has been driven by its low credit card penetration and limited access to formal credit, coupled with a booming e-commerce market that has been fueling demand for BNPL services. Amazon Pay Later Amazon Pay Later Amazon Pay Later is a convenient credit service offered by Amazon.in

BNPL 90

BNPL Online and Mobile Banking Credit Limit Credit Cards 90

EBizCharge

NOVEMBER 22, 2024

Have you ever had a transaction that didn’t go through due to a temporary hold on your credit card? A temporary hold on a credit card is more common than you might think, often triggered by various factors ranging from overdue payments to suspicious transactions. What is a credit card hold?

Credit Cards 52

Credit Cards Card Issuer Issuers Credit Limit 52

FICO

MAY 31, 2017

Section 1071 amends the Equal Credit Opportunity Act to require financial institutions to report information concerning applications made by women-owned, minority-owned and small businesses. However, the CFPB makes a point of underscoring the lack of data available to assess how well the market is meeting the needs of small businesses.

Small Business 45

Small Business CFPB Consumer Financial Protection Bureau (CFPB) Rules 45