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Welcome to your daily FinTech news!
NEWS HIGHLIGHT
Mastercard is facing pushback from retailers over its new BNPL product. Mastercard will charge retailers 3% of a purchase price each time a consumer agrees to use the new program. Mastercard will automatically enroll retailers in its new buy-now-pay-later service. However, retailers will have a chance to opt-out. Link here
FINTECH NEWS
#bnpl

CEO Max Levchin says Affirm has cracked the code to underwriting more consumers than banks would. Nevertheless, investors are worried that Affirm’s borrowers will fall behind on payments. Link here

#payments

LianLian expands operations to the UK helping ecommerce merchants and entrepreneurs sell products and services internationally with its cross-border digital payments platform. Link here

#collaborations

Figure collaborates with Visa to provide issuing processor services through Figure’s Banking in a Box, a platform built on the Provenance Blockchain. Link here