GameStop Collaborates With QuadPay For BNPL - pymnts.com

GameStop Collaborates With QuadPay For BNPL - pymnts.com


GameStop Collaborates With QuadPay For BNPL - pymnts.com

Posted: 17 Sep 2020 07:47 AM PDT

Amid the approaching holiday shopping season, GameStop has joined forces with QuadPay to offer access to its buy now, pay later (BNPL) payment platform. QuadPay is currently available on the retailer's website and at its brick-and-mortar stores, according to an announcement.

GameStop Chief Merchandising Officer Chris Homeister said in the announcement that the retailer is "pleased to partner with QuadPay to offer a new flexible payment option that will enable customers to affordably purchase the products they want from us this holiday season."

QuadPay allows shoppers to divide any purchase into four "interest-free installments" paid during six weeks with the debit or credit card that they already have. The company's app has been downloaded more than 2.3 million times.

GameStop becomes a part of the more than 4,700 worldwide retailers and merchants in the QuadPay network. The merchant is the biggest video game retailer in the world, selling gaming titles, video game equipment and accessories. It operates locations globally with the Game Stop, Micromania and EB Games names.

"We are thrilled to be partnering with GameStop as they look to provide their customers with a simple and flexible way to pay over time both online and at the point of sale inside their more than 3,300 U.S. store locations," QuadPay Co-CEO Brad Lindenberg said in the announcement.

In separate news, QuadPay recently teamed with Mastercard Vyze to provide a new installment-based payment infrastructure. Vyze utilizes a technology system that can work with companies and lenders to provide more choice in payment methods.

In August, news surfaced that Australian BNPL firm Afterpay had joined forces with Vineyard Vines, Huda Beauty, Puma, Fila, Fenty Skin and Charlotte Tilbury.

Afterpay also said in an announcement of the new collaborations that it rolled out two new functions including offering shoppers a method to look at estimated spending limits and the choice to set a new date for payments.

——————————

LIVE PYMNTS TV OCTOBER SERIES: POWERING THE DIGITAL SHIFT – B2B PAYMENTS 2021 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Citi To Face Regulators' Rebuke Over Faulty Risk Management - pymnts.com

Posted: 14 Sep 2020 02:07 PM PDT

Regulators are expected to reprimand Citigroup for its faulty risk management system, which works to detect problematic transactions, risky trades and other such issues, and that has apparently sped up retirement plans for Chief Executive Michael Corbat, according to a report in The Wall Street Journal.

Corbat was expected to keep serving in his position for several more years, but will now be stepping down in February, Citi announced.

Citing sources, the news outlet reported that while regulators didn't ask Corbat to retire, the CEO came to believe the costly, years-long overhaul of the risk system would be a job best fit for his successor, Jane Fraser.

The reprimands expected from the Office of the Comptroller of the Currency and the Federal Reserve could impel the bank to come up with a plan to fix its risk system, which is affected by the firm's infrastructure. The issue is that Citi's various business arms, including for commercial banking, credit cards and corporate advisory services all run on their own individual systems, with different methods for tracking customers and transactions, the Journal reported.

That can mean a customer with multiple reasons to do business at Citi could find themselves with numerous different identification codes. Regulators require banks to track customers across all operations, with an eye toward catching crimes such as money laundering. The myriad of different systems Citi has in place could make it vulnerable to attacks, some sources said, according to the newspaper.

One example is the $900 million recently sent by mistake to a group of Revlon lenders, which Citi discovered was due to outdated software installed in the 1990s.

The consent order could require Citigroup to develop and execute a plan to fix its risk management system, though it's unclear what level of regulation or oversight there could be on that plan. In January, a Citigroup executive said there was a plan to hire 2,500 coders to help with the technology underpinning dealings with investment and corporate banking.

And in June, the hiring of Karen Peetz as chief administrative officer was intended to work on bank safety issues and, according to Corbat, bring more clarity to dealings with regulators.

——————————

LIVE PYMNTS TV OCTOBER SERIES: POWERING THE DIGITAL SHIFT – B2B PAYMENTS 2021 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border.

Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

Comments

Popular posts from this blog

Window for Small Businesses to Apply for PPP Funding Closes Saturday - Bay News 9

List of Easy Approval Net 30 Accounts for 2020 - Nav

This new business index offers a more accurate way to forecast recessions - MIT Sloan News