In today’s top payments news, Apple’s share price hit a record high above $300 on Thursday, “buy now, pay later” company Sezzle was denied a lending license from California and a European Central Bank policymaker urged area banks to seek alternatives to Libra.
Apple’s share price crossed the $300 mark on Thursday for the first time, as the company closed at $300.35 at the end of the day. Apple’s rise coincides with a broader advance on Wall Street following the Chinese central bank’s move to stimulate the country’s economy.
Sezzle, a “buy now, pay later” company that offers interest-free loans, was denied a crucial lending license from California, on the grounds that the company was already “lending without having a license to do so.” Rival BNPL company Afterpay’s application was approved by the state.
Jens Weidmann, president of Germany’s Bundesbank, is urging banks in the area to find and create alternatives to Facebook’s proposed cryptocurrency Libra. The European Central Bank (ECB) policy maker urged area banks to be cautious about cryptocurrency from the private sector, a concern shared by various regulators and countries around the world.
Drivers in the United States purchased fewer new vehicles in 2019 than in prior years but spent a record amount of money to buy them. But despite the robust sales, experts caution that the domestic auto industry shows signs of potential weakness.
In the last three years the world of payments has been reset by a single word: “instant.” It won’t be long until the phrase “instant payments” is superfluous — because all payments will be instant. In a recent conversation, Ingo CEO Drew Edwards spoke with Karen Webster about the critical steps to take before we get there.
The year 2019 may go down as a landmark in the annals of tax policy. In an interview with PYMNTS, Liz Ambruester, senior vice president of global compliance at Avalara, notes why 2020 may bring in more seismic shifts in the wake of the Supreme Court case South Dakota v. Wayfair. Turns out that states are not done tweaking how sales taxes are levied on out of state sellers — and here’s what’s coming next.