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Today In Payments: Oracle, SWIFT Add Fast X-Border SMB Payments; House Dems Urge Antitrust Changes

Today in Payments

In today’s top news, Oracle and Swift team up to provide fast cross-border payments, and House Democrats are advocating for big changes to Big Tech. Plus, Macy’s invests in buy now, pay later (BNPL) provider Klarna.

Oracle, SWIFT Add Fast Cross-Border Payments For SMBs

Oracle Banking Payments announced Wednesday (Oct. 7) that it is supporting SWIFT’s latest service to speed effortless global cross-border payments for small and medium-sized business (SMB) and consumer markets.

House Democrats Urge Antitrust Changes To Break Up Big Tech

House Democrats have decided that Big Tech companies Google, Amazon, Facebook and Apple have monopoly-style power, and changes need to be made to rein them in, including potentially splitting up the companies in question or making it more difficult to acquire smaller companies.

Macy's Invests In BNPL Firm Klarna

Macy’s Inc. has become an investor in international payments and shopping service Klarna. The BNPL firm will provide Macy’s shoppers the option to pay in four equal, interest-free payments at eCommerce checkout.

Ripple Threatens To Move If US Isn't More Crypto Friendly

Ripple Executive Chairman Chris Larsen threatened that his company might leave the U.S. if the country's cryptocurrency regulations aren't changed. He called the country's stance toward cryptocurrency hostile at the LA Blockchain Summit on Tuesday (Oct. 6).

Report: Dosh CEO On Giving Online Shoppers Safety And Speed At Sign-Up

Today’s online consumers don’t expect to have to choose between speed and security. In the latest Digital Consumer Onboarding Tracker, Ryan Wuerch, CEO and founder of cash-back platform Dosh, explains how pairing familiar authentication tools, such as email and text-based verification, can help retailers keep customers satisfied during signup and get them transacting quickly.

Melio CEO: Helping SMBs Break Their Paper-Check Dependency

Many smaller U.S. businesses are still tied to paper-based payments even as they wrestle with the pandemic’s impacts. But Melio CEO Matan Bar tells Karen Webster that payments flexibility is key in helping SMBs navigate challenges — and improve cash flow, which is the lifeblood of all companies regardless of size.

The iPhone Vs Prime Day And The Battle For The Forward-Shifted Holiday Season

Invites for Apple’s second big digital event this fall, hosted out of Cupertino, are officially out in circulation, according to reports, where Apple is expected to release the iPhone12 at the “Hi, Speed” event going live next week on Oct. 13.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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