Today In Payments: Adevinta To Buy eBay’s Classifieds Unit; Panel To Review UK’s FinTech Sector

In today’s top news, Adevinta agrees to buy eBay’s classifieds division for $9.2 billion, and an independent panel plans to review the U.K.’s FinTech sector. Plus, Alibaba’s Ant Group plans to file an initial public offering (IPO).

Adevinta Signs Deal To Buy eBay’s Classifieds Division For $9.2B

In a deal expected to create the world’s largest online classifieds company, eBay Inc. has agreed to sell its ad division to Adevinta ASA, the Norwegian online marketplace, for $9.2 billion.

Independent Panel To Review UK’s FinTech Sector

A panel established to grow the U.K.’s FinTech sector is planning a review of the industry to identify opportunities for growth.

Ant Group Preps For One Of Biggest IPOs In History

Ant Group, the online payments division arm of Alibaba Group Holding Ltd., China’s eCommerce superstore, plans to file an initial public offering (IPO) on Shanghai’s Nasdaq-style STAR Market and the Hong Kong Stock Exchange.

CFPB Consumer Complaints Up 50 Pct During Pandemic

The Consumer Financial Protection Bureau (CFPB) has recorded record-high numbers of complaints every month since the pandemic hit in mid-March, according to a press release from the U.S. PIRG Education Fund. But according to the PIRG Fund’s analysis, the CFPB has also shirked its duty somewhat during the pandemic by weakening protections against predatory payday lenders.

New Report: Mercado Pago On How Mobile Bridges The LatAm Banking Gap

There’s a growing appetite for mobile banking services in Latin America, where nearly 50 percent of the population is unbanked. And the ongoing pandemic is only accelerating this trend, says Paula Arregui, chief operating officer for Mercado Pago. In the latest Merchants Guide To Navigating Global Payment Regulations, Arregui discusses how merchants can best adjust to open banking rules and tailor their offerings to meet the needs of a mobile-first, unbanked customer base.

Radius Bank: Becoming Partners In Crime Prevention Can Help FIs Beat Fraud Rings

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. In this month’s Preventing Financial Crimes Playbook, Chris Tremont, executive vice president at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game — and how.

Coca-Cola, PepsiCo Serve Up New Strategies For A Post-COVID World

Second-quarter earnings reports from Coca-Cola and PepsiCo show the two iconic brands must make big modifications to what was seen as an impervious business.