Categories: News

Today In Payments: Amex Grows BNPL Options; Facebook Unveils Commerce Accelerator Plans

In today’s top news, American Express has unveiled a new payment option, and Facebook has revealed plans for a Commerce Accelerator. Plus, six additional U.S. credit unions (CUs) and banks have signed on to provide savings and checking accounts through Google Pay.

American Express Expands BNPL Options For Cardholders

American Express (Amex) has debuted a new method for cardholders to pay for purchases. Platinum cardmembers can now join Gold and Green members with Amex’s new buy now, pay later (BNPL) option called Pay Over Time.

Facebook Boosts eCommerce Platform With ‘Accelerator’

Facebook released plans on Monday (Aug. 3) for a Commerce Accelerator that will work with 60 startups selected from a collection of applicants from Latin America, Europe, the Middle East and Africa.

DOJ To Investigate Intuit’s $7B Takeover Of Credit Karma

The U.S. Department of Justice (DOJ) has started to examine Intuit’s $7.1 billion acquisition of Credit Karma. The DOJ has reportedly raised questions regarding possibly antitrust issues if Intuit, the TurboTax maker, takes over its past competitor that provided complimentary tax preparation technology.

Google Expands Digital DDA Program To Six New FIs

Six more U.S. credit unions (CUs) and banks have signed up to provide savings and checking accounts via Google Pay. BBVA USA, BankMobile, Coastal Community Bank, BMO Harris, SEFCU and First Independence Bank will follow in the footsteps of Stanford Federal Credit Union and Citi in the offering starting in 2021.

Visa’s Kevin Phalen: Global SMBs Get Back To Business Optimistic About The Future

The worldwide pandemic has fundamentally reshaped commerce — a fact confirmed in the new Back to Business study by Visa. Seventy-eight percent of consumers have changed how they pay for things so as to reduce contact in their commerce, according to the eight-nation study.

BBVA On Google, Digital Banking And The Rise Of The ‘Everyday App’

BBVA was among the six banks that said on Monday (Aug. 3) that they would work with Google to provide “smart” digital bank accounts, harnessing Google Pay as an app-driven method to widen its digital reach and bolster the experiences of users with their financial institutions (FIs).

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Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border. Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

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