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Top News In Payments: Apple Shares Hit Record High; CA Denies Lending License For Sezzle

PYMNTS Top News in Payments

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 Shares Spike To Record High

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.

CA Denies Lending License For BNPL Firm Sezzle

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.

ECB Tells Banks To Seek Better Alternatives To Libra

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.

US 2019 Auto Sales Were Lowest In Five Years

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.

When Instant Payments Are Just Payments

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.

Online Sales Tax’s ‘Pivotal,’ Post-Wayfair 2019 — And What Lies Ahead

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.

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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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