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News and resources on payments systems, innovations and initiatives worldwide.

Discussion
CFPB rules that BNPL lenders should be treated as credit cards
Ketharaman Swaminathan

Ketharaman Swaminathan

  If credit card has chargeback / fraud protection at 2-3% MDR, it makes sense to extend similar benefits for BNPL at 3-6% MDR. However, if BNPL must have the same FICO score / creditworthiness bar as credit card, that'd drastically undermine its basic positioning as sorta ultra subprime loan and TAM therefrom. 
UK bank fraud losses topped £1 billion last year
Jamie French

Jamie French

  I want to know who recieved the most cases! Of course they don't share this information. The full report is here for anyone interested! https://www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2024
PSR steps back from capping Visa and Mastercard fees despite lack of competition
Ketharaman Swaminathan

Ketharaman Swaminathan

  All my life, I've heard that companies who don't provide value to customers, increase prices arbitrarily etc. will perish. Visa / MasterCard were not a duoply at birth. The accusations made against them have been made for as long as I can remember. It beats me how these card networks not only survived but thrived when they were not a duopoly. I can think of only only one explanation for this disconnect: Visa / MasterCard continue to provide unrivaled price-performance despite being challenged by alternative payments. To hide their incompetence, competitors are using duopoly as a smokescreen and, knowing which side of the toast is buttered, merchants are playing along (or vice versa). 
Swift opens API channel for ISO 20022 corporate payment tracking
A Finextra Member

A Finextra member

  this initiative makes a lot of sense - look at the impact when NPCI in India added UPI, a bank agnostic solution for payment initiation on top of various domestic payment systems. A similar configuration should work well for cross-border 
Sehrish Alikhan

Top payments stories you missed in April

Sehrish Alikhan - Reporter, Finextra