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NewsBriefs

This article contains excerpts from news stories recently posted under Breaking Industry News on marketing manager at Engageware.
our homepage. For links to these and other full news stories, please visit www.greensheet.com/ "In today's challenging economic
breakingnews.php. climate, financial institutions need
to be closely attuned to the changing
needs and preferences of their
customers," Platkiewicz said.

BNPL not quite universal in ecommerce Life without rewards is pointless
A bipartisan bill that would
As more shopping moves online, the user base of buy now, pay later (BNPL) dictate how credit card payments
schemes has grown. But The Strawhecker Group's new payment gateway
directory reported that fewer than 20 percent of gateways can support BNPL get routed appears to be dead for
now. Nevertheless, a conservative
transactions. It's not as bad as it seems, however, since that majority of online
transactions flow through just a handful of gateways, and those gateways offer business group launched a seven-
figure advertising campaign that
BNPL functionality, noted Alex Ferguson, market intelligence manager at TSG.
"One of the main difficulties some gateways are grappling with in offering likens the proposal to a ban on credit
card rewards. "Millions of American
BNPL functionality is primarily debt liability that they don't have an appetite
to deal with," Ferguson said. families and businesses rely on
their credit card benefits for travel,
Bank customers prioritize engagement, studies show dining, shopping and cash back," said
Gentry Collins, CEO at American
Banks and credit unions are leveraging digital technologies to deepen customer Free Enterprise Action. "The Credit
relationships, according to new studies by Engageware and J. D. Power. Card Competition Act would strip
Engageware released its second annual Engage 2023: Customer Engagement American consumers of billions of
in Banking, Annual Trends Report. Based on surveys conducted by Infosurv, dollars a year in benefits—resulting
the study examined the efficacy of current customer service initiatives across in less travel and less spending. It will
the U.S. financial services landscape, according to Caroline Platkiewicz, senior also hurt the millions of American
small business owners and local
towns that rely on these benefits the
most." The Credit Card Competition
Act was penned ostensibly to lower
merchant processing fees through
competition in the form of network
choice.

Experts discuss potential fallout
from FTX implosion
HOLIDAY PAYMENT While lawyers were sorting out

SOLUTIONS disgraced former FTX CEO Sam
Bankman-Fried's extradition status,
partners in the O'Melveny & Myers law
firm shared perspectives on potential
ACH • LEVEL III • EMV fallout from the situation. Bankman-
Fried, known as SBF, founded the
now bankrupt FTX cryptocurrency
WEB • RECURRING exchange and related hedge fund
Alameda Research. SBF was indicted
CASH DISCOUNT and arrested in the Bahamas and is
facing multiple counts of investor and
consumer fraud in the United States,
CUSTOMER DATABASE along with civil lawsuits filed by the
Securities and Exchange Commission
and Commodity Futures Trading
C A L L F O R A D E M O Commission. Sid Mody, a partner
in O'Melveny's White Collar &
8 0 0 - 2 9 6 - 4 8 1 0 Corporate Investigations Group,
offered views on the charges against
SBF and what might come next in
prosecution.

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