Apple's June 2023 launch of Apple Pay Later is the latest example of BNPL's continuing diversification and growth. Julian Ostertag, managing partner and board member of global tech investment bank Drake Star and co-chair of the company's German operations, shared insights with The Green Sheet on the developing BNPL phenomenon.

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The United Kingdom is moving ahead with plans to regulate the fast-growing buy now, pay later (BNPl) market. Draft legislation published by the UK government on Feb. 14, 2023, would render BNPL agreements subject to rules established by the Financial Conduct Authority, a non-governmental body that regulates financial services firms there.

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The U.S. Payments Forum developed a resource it says will simplify the PINless debit implementation process for retailers, networks and acquirers.

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The United Kingdom's Financial Conduct Authority (FCA) launched a formal investigation into buy now, pay later (BNPL) best practices to protect consumers' financial health and ensure that BNPL promotions are "clear, fair and not misleading," FCA representatives stated.

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Visa decreed that beginning April 15, 2023, merchants cannot assess surcharges in excess of 3 percent on credit card payments. The news was coupled with a change in registration procedures for surcharging. Now, instead of notifying Visa directly, merchants planning to surcharge will need to notify their acquirer at least 30 days prior to the startup of surcharging.

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Buy now, pay later (BNPL) plans represent 3 percent of global ecommerce, but high default rates and economic headwinds are impacting BNPL providers. Recent examples include New Zealand brands Openpay and Laybuy, currently in receivership, and U.S. BNPL provider Affirm, which disclosed plans to lay off 19 percent of its workforce following an earnings dip in the fourth quarter of 2022.

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Leading acquirer Worldpay will once again be a solo act. Its parent, FIS is spinning off the merchant acquiring business within the next 12 months.

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A new study, Fraud Trends 2023: What They Really Mean for Fraudsters and Your Business, published Feb. 13, 2023, by SEON, foresees escalating attacks against individuals and corporates in 2023. Bad actors are increasingly sophisticated and savvy, researchers warned, while sounding the alarm against a range of attack vectors largely driven by AI and advanced automated technologies.

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America's love affair with gift cards continues unabated. And whether purchasing these closed-loop prepaid debit cards for themselves or for others, the preferred vehicle is plastic, not digital cards, according to a new survey from Fiserv.

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Weeks ahead of Mardi Gras 2023, ATMIA held its 24th annual U.S. conference, Feb. 7 to 9, at the Hilton Riverside New Orleans, attracting over 1,100 ATM executives for three days of exhibits, presentations and networking.

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Amid growing demand for embedded finance options, U.S. policymakers and financial leaders are exploring approaches to banking-as-a-service (BaaS), a popular practice in Europe that experts believe is ready for mainstream adoption in the United States. Paul Davis, director of market intelligence at Strategic Resource Management, commented on BaaS in a recent report titled, Keeping Watch Over the Watchdogs: SRM's Take on What to Expect from the CFPB.

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This has been a defining month for Caf, a global leader in the digital identity market. On Jan. 24, 2023, the company released its Know Your Everything platform, a solution designed to drive revenue by enabling businesses to protect and enhance the digital user experience. Days later, Jason Howard, former chief revenue officer at Caf, took the reins as CEO. In an exclusive interview with The Green Sheet, Howard shared insights about the new platform and identity management trends. Following are interview highlights.

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