In the digital age, a lot has changed about how businesses operate — and a lot of new data is being generated in the process. American Express is tapping into this data for instant credit decisions.
The machine is among the more commonly pitched solutions for high-risk merchants that can't normally handle payment cards because banks won’t partner with them. But for dispensaries, they can be a hassle.
In a move to strengthen the PayPal Working Capital program, the online payments giant has agreed to acquire the small-business capital lender Swift Financial.
Oracle Corp. is offering a payments application programming interface based on the ISO 20022 standard that will allow banks to more easily collaborate with fintechs and other third parties.
Revenue growth in its merchant payments business is expected to be tepid in the foreseeable future. The Minneapolis company says it is looking to ramp up innovation to stay competitive in a business that has been upended by fintech firms and online shopping.
The OCC says banks face growing “strategic risks” from trying to compete and team up with fintech startups; U.K. investor group wants banks to provide more nonfinancial information about their conduct and culture.
