Goldman Sachs this week reported losses related to its Main Street lending business. The banking giant has been pulling away from the credit card lending space, a departure that a Tuesday (Sept. 10) report by The Wall Street Journal (WSJ) characterized as “messy,” driven by...
PhonePe is rolling out a way for Indian consumers to link their credit lines to the Unified Payments Interface (UPI) on its platform. Shoppers can now make payments on PhonePe via Credit Line on UPI, allowing them to buy from millions of merchants, PhonePe said...
Russia’s central bank has reportedly canceled the banking license of the in-country subsidiary of American Express. As Reuters reported Tuesday (Aug. 13), the central bank did so at the company’s request. American Express had filed a voluntary request to liquidate its Russian business in July, the report said,...
Axis Bank has partnered with Visa to launch an “ultra-premium” credit card in India. The new card, Primus, will be offered by invitation only and will cater to select, ultra-high-net-worth individuals — defined as those with a net worth of over $30 million — Axis Bank,...
Amazon teamed with Santander to launch a new Amazon Visa card in Germany. The card lets users earn rewards while shopping on and off Amazon’s Germany website, according to a Monday (Aug. 12) press release. Rewards are redeemable from Amazon. “Cardholders can pay for their...
Credit-building platform Firstcard is expanding its focus from college students into new markets. The company announced Thursday (Aug. 8) that it had extended its services to immigrants, international students, expats, non-U.S. citizens, and people with low credit scores. “These underserved communities often face significant barriers...
American Express is hoping to attract younger consumers with its latest card update. Amex on Thursday (July 25) announced a new version of its Consumer Gold Card, offering new credits for restaurant spending. “We’re seeing particularly strong restaurant spend with Millennial and Gen Z consumers, which is our...
Blu Financiero, a FinTech company focused on the underbanked population in Mexico, has launched a “mass market” credit card that has a 99% approval rate and can be obtained without a formal credit history. In the time leading up to the launch, the waiting list...
As consumers continue to face financial pressures, many are shifting away from credit payments for retail purchases, instead playing it safe with debit. By the Numbers A PYMNTS Intelligence study in April for the Last Transaction Report series surveyed 1,730 United States consumers who bought...
