reuters

Worried a Recession Is Coming, U.S. Online Lenders Reduce Risk

NEW YORK (Reuters) – U.S. online lenders such as LendingClub Corp, Kabbage Inc and Avant LLC are scrutinizing loan quality, securing long-term financing and cutting costs, as executives prepare for what they fear could be the sector’s first economic downturn.

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U.S. Firm FIS Buys Worldpay for $35 Billion in Payments Deal Bonanza

(Reuters) – Fidelity National Information Services Inc (FIS) agreed to buy Worldpay for about 35 billion on Monday, with the U.S. financial services provider striking the biggest deal to date in the fast-growing electronic payments industry.

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Fintechs Could Help Mexicans Abroad Send Money Home More Cheaply:…

MEXICO CITY (Reuters) – Mexico’s new government is trying to slash the cost of sending cash home for Mexican families living abroad and is hoping competition from fintechs will encourage banks and services like Western Union to reduce commissions and improve exchange rates.

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Singapore Police Raid Wirecard Office Following FT Reports

FRANKFURT/SINGAPORE (Reuters) – Singapore police raided the premises of German payments company Wirecard in the city state on Friday following a series of investigative reports in the Financial Times alleging fraud and creative accounting.

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Ecosystem Must Evolve to Make Euro Instant Payments a Success

Real-time euro payments are already here – but there’s wider work to do to serve corporate needs. By Thomas Egner, Secretary General, Euro Banking Association Speed, as any racing driver will tell you, is not necessarily synonymous with success. A racing car, for example, is a masterpiece of technology.

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Visa, Mastercard Offer Tourist Card Fee Cut in EU Antitrust Probe

Visa and Mastercard have offered to trim the fees merchants pay on card payments by tourists in the European Union in an attempt to stave off possible fines after a long-running antitrust investigation, people familiar with the matter said.

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Cyber Monday on Track for U.S. Online Shopping Record

Cyber Monday was on track to bring in a record $7.9 billion in U.S. online sales, as millions of shoppers scoured for steep discounts on everything from Lego sets to big-screen TVs.

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ECB Steps Up Checks of Banks at High Risk of Laundering Money

The European Central Bank is stepping up scrutiny of banks it sees at high risk of laundering money by launching a dedicated network of watchdogs sharing information on the matter, its chief supervisor Daniele Nouy said on Tuesday.

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France Hopes to Lure Crypto-issuers With Gallic Stamp of Approval

With hundreds of cryptocurrencies being issued every month, countries face a choice: ban them, leave them unregulated, or come up with rules to tame them. France is pursuing the third option, which might be regarded as a Gallic middle ground. It wants cryptocurrencies to be issued in France as long as those backing them agree […]

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Swiss Watchdog Investigates Banks Over Alleged Payments System Boycott

Switzerland’s competition watchdog has raided the offices of financial companies, including Credit Suisse and UBS, to investigate a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay.

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Morocco Expects 50 Billion Dirhams in Mobile Payments by 2023

Morocco expects mobile wallet payments to hit 50 billion dirhams ($5.3 billion) a year by 2023 as it prepares to launch a mobile payment service by the end of this month, a central bank official said on Tuesday.

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U.S. Online Spending Set to Rise 14.8 Percent in 2018 Holiday Season

NEW YORK (Reuters) – U.S. online spending during the holiday shopping season is likely to grow 14.8 percent this year to $124.1 billion, far outpacing the 2.7 percent growth predicted for brick-and-mortar locations and highlighting the ongoing switch from stores to web shopping.

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