Kate Fitzgerald

With the buy now/pay later market cooling and regulatory scrutiny increasing, Zip aims to rapidly scale with merchants and consumers.

Paywallet CEO DK Sharma has raised about $14 million for a system that facilitates loans of up to $10,000, with installments coming out of borrowers' pay. It's meant to be an alternative to payday lenders.

Investors are souring on BNPL companies despite strong consumer demand, as the business model for short-term installment loans faces fee pressure, heightened competition from banks and the specter of a regulatory crackdown.

Teaming with the fintech Buy It Mobility Networks, Discover Financial Services plans to enable Automated Clearing House payments within merchant apps.

After the Financial Conduct Authority told Klarna, Openpay, Clearpay and Laybuy to make their contract terms clearer, three of the companies refunded late-fee charges to consumers.

The digital payment company's stellar pandemic-era account growth has lost its momentum, and the 4.5 million fake users it identified were only part of the problem.

The card network joins a growing number of payment-card companies and fintechs providing digital bank accounts.

MVB Bank more than tripled its deposits in five years by providing accounts to sports betting sites, as well as technology companies that cater to other industries.

The increase was driven by small businesses including property managers, contractors and beauty salons.

The "super app," which incorporates shopping, savings and other offerings, was well received by PayPal's users, but inflation and supply chain issues are likely to weigh on spending through the first half of this year, CEO Dan Schulman said.

The new product will help Barclays' U.S. bank reach customers who may not want — or qualify for — its cobranded cards. It's part of a strategy to reach more consumers after card balances declined last year.

The new service was designed to lower costs for community banks while adding security features and providing customers with access to Venmo and other peer-to-peer payment systems.

American Express predicts travel will account for just 20% of its spending for the foreseeable future, compared with 30% before the pandemic, as younger consumers spend more on merchandise.

A new service speeds payments by using artificial intelligence to predict which buyers are most likely to pay.

The issuer says it can offer installment loans without jeopardizing the kind of growth in credit card volume that it reported for the fourth quarter.

The startup PointCard's new charge card ignores applicants' credit scores, instead weighing their cryptocurrency holdings and other investments to determine ability to repay.

Goldman's second consumer credit card borrows many features of its three-year-old Apple Card, such as instant issuance through a mobile app and an emphasis on virtual account numbers.

The Consumer Financial Protection Bureau's investigation calls some installment lenders' collection practices into question, but also highlights the ease of access that has made their loans so popular.

During the pandemic, consumers have become more willing to do their food shopping remotely. Companies like LG and Blue Apron are building on that interest through the addition of networked technology, mobile apps or card rewards.

Alliance Data Systems, which saw key clients like Pier 1 Imports shuttered during the pandemic, has diversified into buy now/pay later loans and other credit products it offers to consumers directly and through merchants.