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NewsBriefs

BNPL usage. Financially fragile households, defined
by low credit scores, recent credit declines or loan de-
linquencies, heavily utilize BNPL. Surprisingly, income Unlock Your
isn't the primary factor driving BNPL use; reasons vary
from deferred interest to convenience.

The study suggested substantial growth potential Growth Potential
for BNPL, with first-time use being the primary bar-
rier. Notably, BNPL usage is recurring across income With a BCP Loan
groups. However, financially stable consumers tend to
make higher-value BNPL purchases. The report under-
scored the need for better understanding and regula-
tion of BNPL services.
Digital wallets near mainstream
acceptance, study finds
J.D. Power's 2024 Digital Wallet Satisfaction Study, based
on a survey of 3,957 consumers, found a global surge in
digital wallet usage, surpassing other payment meth-
ods by 5 percent in ecommerce and 6 percent in mo-
bile commerce transactions. Miles Tullo of J.D. Power
suggested that continued growth in online and mobile
commerce will drive further adoption of digital wal-
lets.

Although convenience and ease of use are key driv-
ers, the study revealed discrepancies in merchant ac-
ceptance, with only 57 percent of small and midsize
businesses currently accepting digital wallets. While
dominant brands like PayPal, Apple Pay, Venmo and
Cash App Pay lead in usage, researchers noted room
for improvement, particularly in incentivizing adop-
tion through rewards programs and merchant dis-
counts. The study concluded the digital wallet space
remains dynamic, with ample opportunity to enhance
customer satisfaction and loyalty.
Long-running legal battle over
interchange settled, maybe
Visa and Mastercard reached a settlement with retail-
ers, aiming to resolve a longstanding legal dispute.
Originating from a lawsuit filed in 2005, the settlement
is subject to approval by a federal district court in New BOCA
York and addresses merchants' allegations of collusion CAPITAL
to inflate interchange fees. The agreement entails a halt
on interchange fee hikes for four years, the elimination PARTNERS
of anti-steering rules, and simplification of rules re-
garding surcharging and cash discounting.
Get a loan from $100,000 to
Both card brands emphasized benefits for businesses,
including flexibility in managing card acceptance. At- $5,000,000 for your ISO today
torneys representing merchants estimated savings of
nearly $30 billion over five years. Despite this, some
merchant associations expressed concerns over the ad-
equacy of fee reductions. The National Retail Federa-
tion advocated for legislation promoting competition Call Now: 844-531-4957
in card payment processing. bocacapitalpartners.com

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