Weekly Global News Wrap: Americans miss BNPL payments; Wells Fargo fined $250m

And Mastercard bets on crypto with acquisition of CipherTrace.

From Reuters
A third of US consumers who used “buy now, pay later” (BNPL) services have fallen behind on one or more payments, according to a study published by a finance company, Credit Karma and Qualtrics.

The study surveyed 1,044 adult consumers in the US last August to measure their interest in BNPL. About 44% of the surveyed adults have used the service, higher than an earlier survey by Credit Karma for Reuters in December 2020.

On the upside, the number of missed payments is lower than those from an earlier survey by Reuters and Credit Karma last December. In the earlier study, 38% of respondents missed their BNPL payments.

From CNBC
Wells Fargo was hit with a $250m fine from a banking regulator for engaging in “unsafe or unsound practices” while executing its mortgage loss mitigation program.

The Office of the Comptroller of the Currency said that the bank also violated the terms of a 2018 consent order that was critical of its risk management systems.

“Wells Fargo has not met the requirements of the OCC’s 2018 action against the bank. This is unacceptable,” Acting Comptroller of the Currency Michael J. Hsu said in a statement. “In addition to the $250m civil money penalty that we are assessing against Wells Fargo, today’s action puts limits on the bank’s future activities until existing problems in mortgage servicing are adequately addressed.”

From CNBC
Mastercard has entered into an agreement to acquire blockchain analytics start-up CipherTrace for an undisclosed amount, a sign of how major companies are warming to cryptocurrencies.

The payments giant said that it has entered into an agreement to buy CipherTrace for an undisclosed amount. 

“Digital assets have the potential to reimagine commerce, from everyday acts like paying and getting paid to transforming economies, making them more inclusive and efficient,” Ajay Bhalla, president of cyber and intelligence at Mastercard, said in a statement. “With the rapid growth of the digital asset ecosystem comes the need to ensure it is trusted and safe.”

Follow the link s for more news on

Pembekuan pendanaan menghantam penyedia layanan BNPL

Investor semakin sedikit mengalirkan dana ke penyedia layanan BNPL yang sudah menghadapi keuntungan margin yang tipis.

HSBC: Aliansi bank-fintech merupakan win-win

Pemberi pinjaman dapat belajar dari teknologi disruptif sambil membantu mereka mematuhi regulasi.

Tokenisasi aset perdagangan untuk menjembatani kesenjangan pembiayaan

Teknologi blockchain dapat mendesentralisasikan operasi keuangan dan mempermudah akses kredit.

BCA menjalankan komitmen terhadap keuangan berkelanjutan

Bank asal Indonesia ini mempertimbangkan aspek lingkungan dan tata kelola dalam keputusan pemberian pinjaman.

Mengapa UNOBank mendorong embedded finance tumbuh di Filipina

Bagi UNOBank, banking interface terpadu adalah strategi pertumbuhan sekaligus upaya inklusi keuangan.

OCBC mencoba mengurangi kesenjangan manfaat bagi agen properti di Singapura

Produk terbarunya menawarkan manfaat finansial di bidang perbankan, asuransi, dan perdagangan.

Upaya Malaysia menjadi anggota BRICS untuk mendorong perombakan sistem perbankan

Namun, tantangan muncul ketika menjauh dari ketergantungan pada AS dan SWIFT.

Platform pembayaran PingPong memperoleh lisensi PJP di Indonesia

PingPong mengincar ekspansi ke pasar ekspor senilai $320 miliar di negara tersebut.

Merger dan penutupan mengancam 3.800 bank di area pedesaan Cina

Sekitar 70 bank di area tersebut telah merger sejak 2023.