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Ant Group’s Global Unit Posts US$3 Billion Revenue Ahead of Planned Spinoff

Fintech News

Singapore-based Ant International also recorded two consecutive years of adjusted profit, according to people familiar with the matter. The company has not disclosed how it calculates adjusted EBITDA, a metric that typically excludes non-recurring or non-operating costs. billion user accounts across 36 digital wallets.

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American Fintech Council (AFC) Responds to Consumer Financial Protection Bureau (CFPB) Interpretive Rule on Buy Now Pay Later

Fintech Finance

AFC welcomed the recommendations by the CFPB but requested additional time and clarity to ensure that all BNPL providers, if necessary, can adjust their programs to come into compliance to ensure consistent consumer product experiences. “As

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Megamalls Like Mall Of America And American Dream Face Mega Problems 

PYMNTS

Requests for comment from the mall went unanswered. For example, it has made adjustments to the pandemic like switching the New Jersey mall from 55 percent entertainment and 45 percent retail to 70 percent entertainment and 30 percent retail, according to CNBC. billion mortgage in 2014. Could the property default?

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Fed Seeks Comment On New Operating Hours For Fedwire Funds

PYMNTS

The Federal Reserve has released a request for comment on potential changes to its National Settlement Service (NSS) and Fedwire Funds Service, as well as feedback on a possible new posting time for transactions, and an increased daylight overdraft fee. “On Sept.

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AFC Praises New BNPL Recommendations, But Warns That Providers Need ‘Additional Time’ to Comply

The Fintech Times

Now, the American Fintech Council has submitted its own response to the CFPB’s request for comment on the Use of Digital User Accounts to Access Buy Now, Pay Later Loans. In a letter , it applauded the CFPB for its 2022 report on BNPL and its continued engagement with industry leaders.

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China’s Central Bank Orders New Clearing House For Online Payment Groups

PYMNTS

We are actively participating in the preparation work and will complete the adjustment according to the requirements of central bank,” Ant Financial spokesman Anna Wang said. The PBoC and Tencent did not respond to a request for comment.