Jifiti’s White Label BNPL Platform Adds B2B
Over the last decade, dozens of buy now, pay later (BNPL) specialists worldwide have focused on signing merchants as distribution channels for their consumer lending businesses. Growth has been explosive, and BNPL fintechs attracted eager investors.
US Consumer Payment Systems and PCE
Personal consumption expenditures (PCE), a statistic calculated by the United States Department of Commerce’s Bureau of Economic Analysis (BEA) were $15.903 trillion in the US in 2021. Purchases made for goods and services totaled $12.416 trillion, which was 78.1% of PCE.
Nium and UATP are Virtual Card Partners
Nium is a global payment-as-a-service platform provider serving small and midsized companies that also offers API-based banking services. The company can make financial settlement on remittances and other payouts in 190 markets in local currency using its own bank accounts. Nium handled more than $8 billion in payments in 2021.
Edenred Fleet Card in the US
The commercial fleet card market in the US is dominated by operators of three closed-loop systems—Wex, Comdata and US Bank. Edenred, which is the largest fleet card provider in Latin America and fourth largest in Europe, sees an opportunity to compete in the US fleet card market with Edenred Essentials, a Visa commercial card product.
Vehicles Can Be Fleet Cards
Proprietary identity management technology from Car IQ can turn a car or truck into a vehicle that transacts directly with a merchant for payment of fuel, repairs, parking, tolls and more, replacing the use of a fleet credit card.
Amex’s Global Pay for Cross-Border B2B
Small businesses in the US that hold American Express Business Card accounts are being offered a business-to-business (B2B) digital payment service for domestic and international transactions that will clear and settle outside of the company’s merchant network.
Nexi and Microsoft are Partners
Azure, the cloud computing service of Microsoft, will host digital services for Nexi, a top European provider of merchant acquiring, card account processing, digital banking and corporate payment services.
Paystand Adds DeFi Card to Blockchain-Based AR
Business-to-business (B2B) payment specialist Paystand has added dynamic discount pricing as an option for monthly subscribers connected to its blockchain-enabled network. Accounts receivable (AR) teams at Paystand seller customers can use an early pay option as an incentive to accelerate payments received from accounts payable (AP) teams at buyers.
Top US Banks in Mastercard Send and Visa Direct
Person-to-person and business-to-consumer funds transfers delivered to a recipient’s debit account in 30 minutes or less have been available from Mastercard Send and Visa Direct since 2016. Last year, transactions in the US exceeded 1.26 billion from the issuers shown here.
U.S. Issuers of Commercial Credit & Debit Cards
The largest issuers of Mastercard and Visa commercial credit, debit and prepaid card products are listed on pages 6, 7, 8 and 9 ranked by purchase volume generated in 2021. Corporate travel and entertainment (T&E), fleet and purchasing, small business credit, small business debit and prepaid (government benefits, etc.) are included.