Payments

It took less than a day for Citigroup’s now-infamous payment error to Revlon lenders to come up in the cosmetics giant’s bankruptcy.

The Korean technology firm was one of the few success stories from the early days of mobile payments. But times change, and consumers are demanding more than just the ability to transact.

To keep customer relationships "sticky," Langley Federal Credit Union will roll out a bill pay feature this summer that tries to mimic the advantages customers get by going directly to the biller site.

Pay Monthly, which allows consumers up to two years to repay a single purchase, fills the void between short-term BNPL offerings and long-term bank loans — and strengthens the company's super app.

In global news this week, U.K. regulators examine branch closures, Apple complies with Dutch App Store rules, a pan-Nordic payments system prepares for launch, and more.

It's late in the game to get involved in cannabis payments, which is why Golden Ark is looking past physical dispensaries to stake its claim in the virtual world.

Pay Monthly loans will have payment plans of up to 24 months, enabling consumers to make larger purchases and repay over a longer period of time than the standard four months.

A partnership with Marqeta gives the remittance provider the online banking tools necessary to better compete in Europe, where digital money movement is in demand.

Drought, inflation and the lingering effects of the pandemic are making it harder for farms to make ends meet. Many are shifting to a direct-to-consumer model that relies heavily on digital payments and banking.

Fintech partnerships and new legislation could help make marijuana more viable and less risky for banks.