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Top News In Payments: Santander Acquires Ebury Stake, Goldman Sachs Extends $10B In Apple Card Credit

Top News In Payments

In today’s top payments news, Banco Santander is acquiring just over 50 percent of the U.K. payments platform Ebury for $453 million. Also, Goldman Sachs has doled out approximately $10 billion in credit lines for the Apple-branded credit card. And Capital One is back online after a major outage.

 

Goldman Extends $10B In Apple Card Credit In First Month

Goldman Sachs has doled out approximately $10 billion in credit lines for the Apple-branded credit card. Apple Card‌ clients had $736 million in loan balances at the end of September, according to regulatory filings made public, though it’s not clear how that compares with other credit cards as banks reportedly do not break out performance by individual cards.

CapOne Back Online After Major Outage

Capital One saw an outage on Friday (Nov. 1) that kept some of its customers from accessing their direct deposits as well as accounts. Capital One said, in part, in a tweet on Friday, “Capital One is experiencing a technical issue impacting customer money movement, including direct deposits, and the ability for some customers to access accounts.” The firm tweeted later in the day that the glitch was fixed.

Justice Department, SEC Investigating Under Armour

Under Armour is being probed over its accounting practices by the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice. It said in reports that “the company began responding in July 2017 to requests for documents and information relating primarily to its accounting practices and related disclosures.” The firm continued, “The company firmly believes that its accounting practices and disclosures were appropriate.”

Santander Takes Big Stake In UK FinTech

Banco Santander is acquiring just over 50 percent of the U.K. payments platform Ebury for $453 million. The Ebury payments platform provides small and medium-size companies with the ability to trade internationally, and the acquisition is is intended to help bolster Santander’s global payments business.

Congress Wants Digital Platforms To Release Their Algorithms – Why?

U.S. lawmakers proposed new legislation last week that would make internet platforms more or less lay bare their algorithms. The Filter Bubble Transparency Act targets “large-scale internet platforms” and the so-called “filter bubbles” they create when their “secret algorithms” are used to curate as well as personalize search returns.

Trending: Malibu Poke Gets Personal With Facial Recognition To Order And Pay

Restaurants like Dallas-based Malibu Poke are using facial recognition technology to allow customers to re-order their meals by looking at self-service kiosks. In a feature story, Malibu Poke owner Jon Alexis explains how the biometric solution and rewards program is providing a more personalized experience for its diners.

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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