Chime has launched a product called Instant Loans that enables preapproved Chime members who receive direct deposits to their Chime Checking Account to access three-month installment loans of up to $500. These members are preapproved for a loan, notified of their eligibility within Chime’s banking app...
Ant International’s artificial intelligence (AI)-driven lending business, Bettr, has officially launched in Brazil and will work with local partners to expand lending to small and medium-sized businesses (SMBs). The company’s first partnership in Brazil is with eCommerce marketplace AliExpress, the companies said in a Monday...
American consumers are missing monthly car payments at the highest rate since 1994. The share of subprime auto borrowers who were at least 60 days delinquent on their payments climbed to 6.56% in January, Bloomberg News reported Thursday (March 6), citing data from Fitch Ratings. That figure is...
SoFi says it has closed a $697.6 million secularization of loan platform business volume. This transaction, the company announced Monday (March 3), was a “co-contributor securitization” with collateral made up chiefly of loans previously placed with loan platform business partners. “As SoFi’s personal loan products...
There’s a new source of stress facing America’s already-stressed student loan borrowers. For the first time since the pandemic, delinquent payments will be added to their credit histories. This is happening, as Bloomberg News reported Thursday (Feb. 27), at a time when more than 9 million borrowers...
Suppose a construction company in Singapore that’s juggling projects from high-rise apartments to infrastructure development is feeling the pinch of rising interest rates and unpredictable material costs. They need to manage cash flow to reduce costs and navigate shifts in the business cycle. Now suppose...
Trade wars, tariffs and interest rates are all top of mind for businesses right now. As firms continue to transact with one another, a healthy working capital environment has a positive impact that extends across industries and across borders, fostering a healthy supplier ecosystem. Measuring...
For the past two years, PYMNTS Intelligence and Visa have explored the strategies and challenges facing Growth Corporates. These middle-market firms generate annual revenues between $50 million to $1 billion and can become tomorrow’s juggernauts. Central to two annual reports (the latest can be found...
Reward seekers, or consumers who pay their credit and store card balances in full every month, aim to maximize benefits from their credit usage, while credit treadmill consumers, who make the minimum payment or less on their credit and store cards each month, often depend...