Cash loan – Condenetint Mon, 27 Jun 2022 01:16:00 +0000 en-US hourly 1 Cash loan – Condenetint 32 32 Payments Council seeks government assistance on RBI rule; Trell’s Troubles Rise Mon, 27 Jun 2022 01:16:00 +0000 Last week, the Digital Lenders’ Association of India (DLAI) contacted the government and the RBI, asking for a six-month extension to comply with the central bank’s new mandate for fintech companies. Now another industry body – the Payments Council of India – is urging the government to help resolve the fallout from the controversial new rule.

Also in this letter:
■ Some influencers say Trell hasn’t paid them in months
■ Swiggy vies with Reliance and others for Indian unit of Metro AG
■ Zomato defines the main priorities once the Blinkit agreement is concluded

Payments Council of India Seeks Government Help on RBI Rule

The Payments Council of India (PCI) and several fintech companies have urged the government to intervene to resolve the fallout from a recent directive from the Reserve Bank of India (RBI), which prohibited payment companies from charging credit lines. credit on wallets and prepaid payments. instruments (IPP).

Catch up fast: We reported last week that fintech firms, along with the Digital Lenders‘ Association of India (DLAI), had contacted the government and the banking regulator to request a six-month extension to comply with the new mandate.

We also reported that the RBI circular came after commercial banks raised concerns about a likely violation of rules, including anti-money laundering (AML) and KYC guidelines, by companies. fintech.

What PCI wants: The council – under the aegis of the Internet and Mobile Association of India (IAMAI) – said wallets that fully meet know-your-customer (KYC) standards should be treated on an equal footing with accounts. banks and that they should be allowed to disburse credit.

He said that “a drawdown by the client on a non-revolving line of credit (which has been granted by a regulated lender) should be disbursable in a full KYC PPI.”

This essentially means that he is seeking to rescind the RBI order issued last week.

A non-revolving line of credit is a concept where credit is “non-revolving” unless the customer re-subscribes for a new line of credit and has a clear repayment schedule with no minimum due.

Make the case of fintech: In the letter, PCI explained the different models for using PPIs to disburse loans to customers. He also said that disbursing loans to a portfolio or PPI helps lenders have more control over how the loan is used versus the risk of misuse if given in cash.

He also said the current model of disbursing loans through a PPI has led to greater financial inclusion and a move towards a cashless future.

To fall: Industry sources told us that credit card startups, such as Tiger Global-backed Unicorn Slice and Uni Cards, were more likely to be affected by the regulator’s decision.

Tiger Global, Insight Partners, General Catalyst and others have invested more than $500 million in challenger credit card companies over the past 18 months.

Some influencers say Trell hasn’t paid them in months; 100 other employees leave


Influencer-run video commerce platform Trell hasn’t paid its membership fee to a section of content creators in the past six to seven months, three creators told us.

About 100 Trell employees have also voluntarily left the company in the past two months, a source said.

Problems galore:Trell is being investigated by an EY India forensic team looking into alleged related party transactions, misreporting of company numbers and other financial irregularities within the company.

lattice problems

How many are outstanding? We couldn’t determine the exact figure, but sources tell us that Trell hasn’t paid a “significant” number of creators. At one point, the company was working with 1,000 to 1,500 creators, they said.

Deleting comments: Trell’s community page on Instagram received several comments from creators, such as “please clear pending payments”, urging the company to pay. Trell was actively deleting these comments, we found.

Trell Screenshots

At least one creator also alleged that the company only pays influencers with large followings on popular social media platforms like Instagram to avoid public shaming, while not paying creators with relatively smaller numbers of followers. .

Denial: Trell denied the allegations.

“Trell has paid all of its creators in accordance with our contractual agreements with them. A certain percentage of creators work through their agencies. Trell has also authorized payments with agencies,” the company said in a statement.

“However, we have learned that some agencies are delaying payments. While this is a gap between agency and creator, we have been actively working with them to ensure our creators are supported and that payments are settled at the earliest…”

Dismissals: In March, Trell laid off 300 employees amid growing uncertainty around the business and talk of halting a funding round.


Swiggy vies with Reliance, PremjiInvest for Indian unit of Metro AG


Food delivery firm Swiggy is competing with Reliance Retail, Thailand’s biggest conglomerate Charoen Pokphand (CP) Group and PremjiInvest – the investment fund run by the family office of Indian tech billionaire Azim Premji – to buy the operations Indian cash-and-carry companies from German retailer Metro AG, several sources told us.

Tata Group and private equity fund Bain Capital are pricing the takeover opportunity at $1 billion to $1.5 billion, but have yet to confirm their plans, the people mentioned above said.

The submission of non-binding offers is scheduled for this week. Flipkart-Walmart, DMart and Amazon have withdrawn from the race for the time being. Detailed due diligence will begin after receipt of non-binding offers with firm offers expected in two months.

We reported on May 20 that Metro AG has decided to exit India by selling its local operations, and that at least 10 potential candidates including Reliance, CP Group, Flipkart, D-Mart have been approached.

On May 30, we reported that Swiggy was also evaluating the prospect.

Fleet integration and customer cross-selling are top priorities after Zomato-Blinkit deal


Zomato plans to begin integrating Blinkit on multiple fronts after its board of directors approves the proposed acquisition, executives said on a conference call Saturday.

Catch up fast: On Friday, Zomato’s board approved its acquisition of fast-trading startup Blinkit for 4,447 crore ($570 million) in an all-stock deal. The company said Blinkit’s valuation decline was due to macroeconomic factors.

Priorities: On the analyst and shareholder call, Zomato executives said once the deal closes, the priorities would be customers and delivery fleet integration. Zomato may consider moving Blinkit to the Zomato app.

“We will be experimenting with different ways to integrate the two customer bases or rather to ensure that we are able to leverage Zomato’s customer base for Blinkit’s business growth,” the CFO said. by Zomato, Akshant Goyal.

“Once the transaction is done we will test these things and if it makes sense to have both brands on the same app then why not? So there are several ideas in our head and we will experiment and see what works . ultimately.”

Using Zomato’s food delivery customer base to cross-sell in fast-paced commerce will be a big part of “achieving synergy,” he said.

More than half of IT companies struggle to get employees back into the office: report

IT services

According to a survey conducted by CIEL HR, three out of four employees working in Information Technology (IT) companies in India do not come to the office even once a week despite their organizations (WFO) resuming work.

Many IT companies are also adopting their back-to-work policy, fearing that coercion will trigger more quits. CIEL surveyed 40 IT companies in India, including those in the top 10, employing a total of around 900,000 employees.

Among the companies surveyed by CIEL, 30% are operating in WFH mode while the others have either taken over the WFO or intend to bring employees back to the office soon. But these employees are not yet open to the idea of ​​switching from FMH mode.

TCS to broadcast: To counter this, TCS plans to open offices in smaller cities and non-metropolitan areas including Guwahati, Nagpur and Goa.

This is intended to encourage collaboration among staff members as many are reluctant to return to their bases after working away from home, mostly in their hometowns, following the Covid-19 pandemic, leaders said.

Its peers such as Infosys, Wipro, HCL Technologies and Tech Mahindra have already announced major expansion plans in non-metro areas.

Other Top Stories by our journalists

technology companies

Political conundrum | The impact on Indian tech companies: New Delhi’s power corridors are once again buzzing with a slew of policies and legislation that directly impact tech and internet companies. The IT Department is seeking changes to the 2021 IT rules for major social media intermediaries, to address “infirmities and loopholes” in existing regulation. The proposed changes are not, however, the only way for the IT Ministry to gain greater accountability from internet companies operating in India.

First Indian NFT platform for esports: Gaming and esports streaming platform Loco is set to launch a new platform that will allow fans to own and trade esports collectibles via non-fungible tokens (NFTs). The platform, Loco Legends, will partner with 50 of India’s most popular esports teams and allow fans to buy and trade virtual collectibles, much like how fans of sport buy merchandise and collectibles for their favorite sports teams in the real world.

Indian cos ready to dial 5G in a year:Indian companies are betting big on 5G, with 52% of companies surveyed by Omdia saying they intend to start using it in the next 12 months, and 56% ranking it among their most important technologies for transformation digital.

Global Choices We Read

■ Period-tracking apps aim for anonymity following Roe v Wade ruling (WSJ)
■ One day, AI will look as human as anyone else. Then what ? (Cable)
■ How to get rid of the Internet, as best you can (The Washington Post)

Nasdaq bear market: 4 magnificent growth stocks you’ll regret not buying on the downside Sat, 25 Jun 2022 09:06:00 +0000

It’s been a tumultuous start to the year for Wall Street and the investment community. Since hitting their respective closing highs between mid-November and the first week of January, the iconic Dow Jones Industrial Averagewide seat S&P500and technology driven Nasdaq Compound (^IXIC 3.34%) fell by 19%, 24% and 34%. This officially places the S&P 500 and the Nasdaq in a bear market.

While there’s no doubt that bear market declines can be frightening given the speed and unpredictability of declines, the story is pretty clear that these declines are a once-in-a-lifetime buying opportunity for patient investors. .

Image source: Getty Images.

While it may take time to recoup the downside associated with a bear market, every notable decline throughout history, including in the Nasdaq Composite, has ultimately been erased by a bull market.

The latest widespread decline uncovered a slew of incredible trades among growth stocks. Below are four gorgeous growth stocks you’ll regret not buying during this Nasdaq bear market decline.

CrowdStrike Holdings

The first phenomenal growth stock that stands out among its peers is the end-user cybersecurity company CrowdStrike Holdings (CRWD 5.77%). Although its price-to-sales ratio is still high compared to other cybersecurity stocks, CrowdStrike’s platform and customer engagement metrics suggest its premium is well deserved.

What makes CrowdStrike so special is the company’s cloud-native Falcon security platform. Being built in the cloud and powered by artificial intelligence (AI) allows Falcon to become more efficient at assessing and responding to threats over time. In a typical day, Falcon monitors approximately 1 trillion events. While CrowdStrike isn’t the cheapest option available for end-user security, a gross retention rate of over 97.3% for nearly four consecutive years suggests it’s the most cost-effective option. efficient.

CrowdStrike also has a knack for enticing existing customers to spend more. Despite a compound annual subscriber growth rate of nearly 100% over the past five years, the most impressive growth statistic is the percentage of users with four or more cloud module subscriptions.

In the company’s last quarter, 71% of subscribers purchased at least four cloud module subscriptions. Just over five years ago, that number was in the high single digits. Getting existing customers to purchase additional services is CrowdStrike’s golden ticket for adjusted gross margins to eventually reach 80% or more.

Innovative industrial properties

Cannabis-Focused Real Estate Investment Trust (REIT) Innovative industrial properties (IIPR 4.94%) is a second stellar growth stock that you will kick yourself if you don’t buy it during the Nasdaq bear market decline.

As of June 15, IIP, as the company is more commonly known, had 111 cannabis cultivation or processing facilities covering 8.4 million square feet of rental space in 19 states. The beauty of buying properties and leasing those assets for long periods of time is the transparency and predictability of operating cash flow that comes with this operating model.

Although IIP stopped reporting some of its metrics after announcing new deals, it has previously said that all of its rental space is leased, with a weighted average lease term of more than 16 years. That’s a long trail of predictable rental income. In addition, the company is able to pass on annual inflationary rent increases to its tenants.

Innovative Industrial Properties also benefits from a lack of cannabis reform on Capitol Hill. The company’s sale-leaseback program buys properties for cash from companies with limited access to traditional financing. In return, he leases the property to sellers, thereby gaining a long-term tenant.

Two businessmen looking at three computer screens displaying large amounts of data.

Image source: Getty Images.

Palantir Technologies

A third magnificent growth stock that you’ll regret not recovering from the Nasdaq bear market decline is the mining company Palantir Technologies (PLT 7.72%). Similar to CrowdStrike, Palantir’s price/sell multiple is not so acceptable during a bear market. But it is a company with clear competitive advantages that deserves a higher valuation.

Palantir is actually two key platforms under one umbrella. The Gotham platform provides data collection and exploration, and aids in mission planning for federal governments. Meanwhile, the Foundry Platform helps companies better understand large amounts of data to streamline their operations. There isn’t a company on the scale of Palantir doing what it does, which is what makes it so unique.

For years, government contracts have been the primary driver of Palantir’s growth. Securing multi-year contracts with the US government helped propel annual sales growth of approximately 40%. But there’s also a ceiling when it comes to Gotham’s addressable market. The AI-based technology that Palantir uses will simply not be offered to government entities deemed to be potential threats to the United States.

Over the long term, Palantir has only scratched the surface with its biggest growth engine, Foundry. The company’s number of business customers more than tripled at the end of the first quarter. However, this “tripling” is only equivalent to Palantir ending the quarter with 184 commercial customers. The range of opportunities for Foundry is seemingly limitless.

Assets received

A gorgeous fourth growth stock you’ll almost certainly regret not buying as the Nasdaq plunges is a cloud-based lending platform Assets received (UPST 5.71%). Despite obvious concerns about rapidly rising interest rates on lending platforms, Upstart has the tools and intangibles to thrive.

The theme of this list is the uniqueness of the product or service being offered, and Upstart is no different. This company’s lending platform is AI-driven. Instead of relying on a traditional loan verification process that can take weeks, Upstart’s lending platform, which partners with lending institutions, can offer on-the-spot approvals. Nearly three-quarters of all loans processed through Upstart are instantly approved and automated. This saves lending institutions money.

But it’s not just about saving money. Upstart’s AI lending platform enabled people with lower average credit scores to be approved for personal loans. While these people may not have been approved through traditional means, they do have a chance with Upstart. Interestingly, Upstart’s approval delinquency rate mirrored the traditional loan verification process, although Upstart’s applicants had a lower average credit score.

Even as lending rates rise, Upstart’s platform has demonstrated its value to financial institutions. Add to that Upstart’s push into the auto loan origination market, and you have a strong case for double-digit sales and sustained long-term earnings growth.

Stock Market Dive: 5 Incredible Stocks You Won’t Regret Buying Thu, 23 Jun 2022 09:06:00 +0000

There’s no denying that this has been one of the worst starts to a year in stock market history. Over the past weekend, the Dow Jones Industrial Average, S&P500and Nasdaq Compound were 18%, 23% and 31% lower, respectively, since the beginning of the year. From their all-time closing highs, the S&P 500 and Nasdaq are firmly in a bear market.

In one respect, a stock market crash can be disconcerting. Few investors enjoy seeing large unrealized losses accumulate over short periods of time.

On the other hand, history has conclusively shown that buying high-quality stocks during these dips is a smart move for patient investors. That’s because every notable drop in major US indexes was eventually erased by a bull market.

Image source: Getty Images.

The stock market crash of 2022 has brought to light a number of incredible offers. Below are five incredible stocks you won’t regret buying during this downturn in the bear market.

waltz disney

The first phenomenal stock market investors can get at a discount is the theme park operator and content kingpin waltz disney (SAY 0.23%). Although pandemic shutdown fears persist in some countries (e.g., China), these short-term worries won’t steer Disney away from its highly successful growth strategy.

One reason to feel incredibly optimistic about Disney’s future is its library of exclusive content. This content, which drives attendance at its theme parks and drives people to watch its films, has been shown to transcend generations. It doesn’t matter whether you’re 5 years old and visiting Disneyland for the first time or taking your grandkids to see a Disney movie at the theater – the nostalgia evoked by Disney content is a clear competitive advantage.

Investors should also be excited about the rapid growth of Disney+, the company’s streaming platform. In the 2.5 years since its launch, Disney+ has signed up 137.7 million people. By comparison, it took netflix more than 10 years to exceed 137.7 million subscribers. Although a loss-making segment at the moment, Disney+ is expected to become another high-margin revenue channel that supports the company’s large and rapidly growing ecosystem.

American Eagle Outfitters

A second amazing stock you won’t regret buying during the stock market crash is the specialty retailer American Eagle Outfitters (AEO 1.28%). Even as the company faces a buildup of inventory and higher transportation costs from global supply chain disruptions, it brings a number of competitive advantages to the table.

For example, American Eagle’s management team has been outstanding for decades when it comes to price and inventory. This is a company that doesn’t discount its brands with deep discounts, but it also doesn’t stop potential buyers from making a purchase. If inventory issues arise, it has historically quickly removed unwanted merchandise from its stores. This tends to result in a higher percentage of full-price buying during periods of economic expansion.

American Eagle Outfitters has also made significant investments in its direct-to-consumer sales. Despite a difficult retail environment, digital sales in the first fiscal quarter (ending April 30) were 48% higher than comparable online sales in the first quarter of 2019 (i.e. before the pandemic).

With niche pricing for its teen-oriented retail stores and intimates brand Aerie growing like wildfire, American Eagle Outfitters is poised for long-term success.

A person accessing the US Bank app on a smartphone.

Image source: US Bancorp.

American bank

Another obvious buy as the market dips is regional bank action. American bank (USB 0.37%), the parent company of US Bank. Even if the US enters a recession at some point over the next two quarters, US Bancorp’s long-term potential makes it a solid buy.

The beauty of bank stocks is that they are cyclical. Although recessions tend to lead to chargebacks and write-offs, periods of economic expansion last much longer than recessions. Over time, banks benefit from increased lending and deposit activity, as well as the natural growth of the US and global economy.

US Bancorp is also benefiting from its excellent digital engagement trends. At the end of February 2022, 81% of its customers were active online or via the mobile application, with 65% of total sales being made digitally. That’s an increase of 20 percentage points since the start of 2020. Loans made online or through a mobile app are considerably cheaper for the business than selling loans in person or over the phone. In other words, the company’s investments in digitalization make it progressively more efficient.

The icing on the cake is that with rising interest rates, US Bancorp’s net interest income on its outstanding floating rate loans is expected to rise.


A sensational fourth stock that can be bought with confidence as the stock market crashes is biotechnology. Exelixis (EXEL 4.34%). Despite poor investor sentiment taking over healthcare stocks at the moment, this company’s operating performance and balance sheet are all the talk.

There is no doubt that the primary growth driver for Exelixis is the cancer drug Cabometyx. This foundational therapy is approved to treat first- and second-line renal cell carcinoma, as well as previously treated advanced hepatocellular carcinoma. These indications alone have propelled Cabometyx over one billion dollars in annual sales.

What investors should know is that Cabometyx is being studied as a combination therapy or monotherapy in more than five dozen additional trials. Although not all of its clinical studies will be successful, the company’s flagship drug has ample opportunity to expand its label and sustain a high list price.

Additionally, Exelixis sits on a mountain of capital: approximately $2 billion, including cash, cash equivalents, cash equivalents and restricted investments. This capital gave the company the flexibility to reinvigorate its internal research program and partner with various cancer drug developers.


A fifth and final amazing title that you won’t regret buying during the market downturn is payment processor Visa (V -0.29%). Heightened fears of a recession are a near-term concern for a company with a long-term double-digit growth track.

Visa is absolutely dominant in the United States, which is the largest consumer market in the world. In 2020, it controlled 54% of purchase volume on US credit card networks (among the top four US networks) and grew its share faster than any of the other major credit card networks. credit since the end of the Great Recession in 2009.

But Visa is far from being dependent on the United States. The company plans to expand its payment infrastructure to underbanked and emerging markets where cash is still the primary transaction enabler. It also has deep pockets and has shown a willingness to use acquisitions as a route to expansion (e.g. the acquisition of Visa Europe in 2016).

Investors will also note that Visa acts strictly as a payment processor. Since he avoids lending, he is not exposed to defaults and therefore does not have to set aside capital for possible loan losses. This small detail is huge in explaining how Visa is bouncing back faster than other financial stocks from economic downturns.

How Chinese property developers got into such a mess Tue, 21 Jun 2022 14:40:58 +0000
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Real estate matters a lot to China: Property construction and sales have been the main drivers of economic growth since President Xi Jinping came to power a decade ago. House prices have soared – up sixfold over the past 15 years – as an emerging middle class flocked to property as one of the few safe investments available. The boom led to speculative buying as new homes were pre-sold by property developers who increasingly looked to international investors for funds. So when Chinese authorities took steps to reduce bubble risk and temper the inequality that unaffordable housing can create, it sparked a crisis that put some major developers in default. A sales slump that began during the pandemic has been compounded by aggressive measures to contain Covid-19. So far, state intervention has prevented a disorderly collapse in the housing market that could undermine the financial system and also shake the global economy.

1. What fueled the housing boom?

In 1998, when China created a national housing market after severely restricting private sales for decades, only a third of its population lived in cities. Today nearly two-thirds do, increasing the urban population by 480 million. The real estate sector has also grown rapidly, while struggling to keep up. Booming cities such as Shenzhen have become less affordable on a price-to-income ratio basis than London or New York, frustrating a generation of potential buyers. Local and regional authorities, which depend on public land sales for much of their revenue, have encouraged more development, which has also helped to meet the central government’s ambitious annual targets for economic growth, which often reached the two digits. Debt piled up as builders rushed to meet demand. Annual sales of offshore bonds denominated in dollars – that is, those sold primarily to foreign investors – fell from $675 million in 2009 to $64.7 billion in 2020, resulting in a charge of growing interests. The sponsors had some $207 billion in dollar-denominated bonds outstanding at the end of last year, which is about a quarter of the total of all Chinese borrowers. Additional and opaque liabilities make it difficult to assess true credit risks.

2. What did the government do?

He has tried for years to defuse the debt bomb, fearing an explosion could trigger a disastrous financial collapse. In mid-2020, he began securing new funding for property developers to try to reduce the threat, and asked banks to slow the pace of mortgage lending. The new borrowing measures introduced for developers proved to be a game-changer. Called the “three red lines” by state media, they aimed to reduce reckless borrowing by setting thresholds for liabilities, debts and a promoter’s cash. Annual borrowing would be capped based on the number of parameters met.

3. What happened to the developers?

Those who did not have enough cash to cover their debts found themselves in a bind. At least 18 defaulted on offshore bonds after the crackdown began. China Evergrande Group, once the country’s biggest developer, was first categorized as defaulter in December after missing payments on several bonds. The establishment of a “risk management committee” dominated by provincial officials was quickly announced to ensure that the company avoided a complete collapse. (Bondholders were still wondering how much they would collect once the dust settled.) Others, including Kaisa Group Holdings Ltd. and Sunac China Holdings Ltd., followed. Fears of further contagion reverberated through industry and the wider economy, hammering domestic growth, weakening consumer confidence and rattling global markets that have long assumed China’s property titans would be bailed out by the government.

4. Where does this leave the industry?

In a deep slump. The combined sales of the top 100 developers have halved in the first four months of this year compared to last year. Home loan growth slowed to its weakest pace in more than two decades at the end of March. Construction fell 14% in 2021 from a year earlier, the biggest drop in six years. All this matters a lot because in China, the real estate sector accounts for almost a quarter of the gross domestic product, if we include non-residential construction, building materials and related activities such as real estate services.

Across China, millions of square feet of unfinished apartments have been left to dust due to developers’ cash flow problems. Home prices began to fall in September for the first time in six years. A full-scale real estate crisis could leave millions of additional buyers who put money up front in limbo. (Buyer protections commonly used overseas, such as escrow accounts and installment payments, tend to be weak.) Fire sales would further crush the market, crushing other developers and rippling through industries and related suppliers. The risk of popular unrest – more than 70% of urban China’s wealth is stored in housing – would increase, disrupting the government. A historic offshore bond selloff would ripple through the much larger domestic credit market, shifting from lower-rated real estate companies to stronger peers and banks. Global investors would sell even more.

The government has tweaked some rules to try to stabilize the situation. For example, the central bank has stepped up support for several struggling developers and banks have been instructed to ensure growth in residential mortgages and developer lending in certain regions. Above all, avoiding a “Lehman moment” – when the US bank failure in 2008 sent shockwaves through global markets – is a priority ahead of this year’s Communist Party congress, where Xi is expected to be given a third mandate. This political necessity most likely means that the government will try to contain the crisis, at least in the short term.

More stories like this are available at

]]> Payveris Launches Loan Payments® for Financial Institutions to Provide Customers with Integrated, Real-Time Payment Methods and Channels Fri, 17 Jun 2022 13:00:00 +0000

Loan Payments® is built by Paymentus, recognized by Aite-Novarica as the “Best in Class” industry leader for Biller Direct EPPP solutions

The new Payveris service is powered by the Instant Payment Network®, the only integrated ecosystem of real-time digital bill presentment, payment and money movement capabilities on the market

CROMWELL, Conn., June 17, 2022 /PRNewswire/ — Leader of the Modern Money Movement Payverisa division of Paymentustoday launched loan payments®, a cutting-edge loan and debt repayment service with the broadest range of real-time payment methods and channels available on the market. Loan payments® is designed to help financial institutions meet growing consumer demand for fast, convenient, and secure payment methods and channels, while reducing operational overhead, driving better customer engagement and loyalty.

Payveris (a division of Paymentus) Logo (PRNewsfoto/PAYVERIS)

A Aite-Novarica Group Survey from 2021 revealed that 89% of consumers wanted more real-time payment options from their digital banking experience. While consumers are enjoying more payment choices, speed, and convenience in just about every other aspect of their financial lives, they expect the same from their loan payment services and are unhappy with the status quo. financial institutions. In fact, a recent JD Power study found that non-bank loan servicers experienced a 17% increase in customer satisfaction, while banks experienced only a 4% increase.

“When financial institutions make it harder to accept and receive payments through coupon books or legacy loan payment systems, borrowers are less likely to consider them for their next loan,” explained the chief innovation officer. by Payveris. Marcello King. “Offering choice, speed and autonomy is no longer a bonus, but a baseline expectation for consumers. Financial institutions need to seriously rethink their loan payment experience and meet customers where they are, and Loan Payments® can help them get there. Whether it’s a car loan, a personal loan or a mortgage, the days of consumers using a coupon book are over.”

With Loan Payments®, financial institutions can deliver a true omnichannel experience that matches what consumers expect from shopping or paying bills. Payment methods supported by Loan Payments® include cash, debit card, and eCheck/ACH. Loan Payments® also allows consumers to choose their preferred payment channel, whether online, mobile, text, PayPal app, Amazon Alexa, Walmart, or directly to their bank or credit union. Along with added convenience and flexibility, Loan Payments® gives financial institution customers more control over how they automate and schedule payments, and the ability to split their payments across multiple methods at once.

Reduce overhead and retain consumers

Financial institutions that offer dated loan payment experiences — in which no-deposit customers can’t easily pay their loan bill online, make payments using a variety of sources, or have their payments posted in real time — are hoarding no more overhead in the form of incoming phone calls. With a suboptimal loan repayment experience, financial institutions practically invite those costly interactions with their customer service representatives. This problem only gets worse with scale.

WSECU, a Payveris customer since 2020, is one of the first financial institutions to intend to deploy Loan Payments®. “Our first priority is to improve the loan repayment experience for members, making it simpler and giving them more options,” said Melissa Wolff, Vice President, Operations Support and Payment Services at WSECU. “Payveris helps us do that, and that alone is a big win. But we also gain more, including the operational efficiencies that come from no longer managing disparate processes. Now everything is centralized in one single payment processing system. payments, regardless of which option best meets the needs of an individual member.”

Financial institutions also have another way to boost customer engagement and loyalty.

“Customer loyalty has traditionally not been a priority for loan servicing – your borrower owes you a debt, so it’s not like they can easily take their money elsewhere,” King added. “But in today’s lending landscape, financial institutions that are successful in modernizing payments are strengthening their customer relationships and positioning themselves to convert indirect borrowers into full-fledged customers, pursue more cross-sell opportunities, and increase value. lifetime of a customer.

Loan Payments® was first developed by Payveris’ parent company, Paymentus, recognized by Aite-Novarica as the “Best in Class” industry leader for Biller Direct EPPP solutions. The solution is powered by Instant Payment Network®, the only integrated ecosystem of real-time digital bill presentment, payment and money movement capabilities on the market. The Instant Payment Network® is currently trusted by many Fortune 500 companies, with more than 10 million consumers relying on it to make payments.

Other key benefits Loan repayments® offers include:

  • Guest Pay – Most financial institutions do not have a customer payment option, which creates friction in the loan repayment experience for indirect customers. Loan payments® solves this problem by improving the user experience for the consumer while helping financial institutions convert indirect lending members into primary account holders.

  • Alerts and Notifications – Loan payments® has smart alerts and notifications sent directly to borrower’s mobile devices to help them stay on top of their loan repayments.

  • Compliant and secure – The PCI Level 1 compliant EBPP platform ensures that electronic payments are secure and compliant with industry standards, offloading the burden and cost of compliance.

  • Secure Service®Consistent call center experience that eliminates PCI scope, minimizes risk to financial institutions, and protects customer payment information when sharing details over a mobile channel.

To discover other solutions offered by Payveris, visit For more information on Loan Payments®, visit

About Payveris

Payveris, a division of Paymentus, is the creator of the MoveMoney℠ platform, a cloud-based Open API platform that enables more than 265 financial institutions to control, simplify and extend smart digital payment and money movement capabilities more engaging to their users through any app or device while dramatically reducing operational costs and future-proofing their IT investment. Visit to learn more.



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Apple is playing a risky game in the loan market Tue, 14 Jun 2022 14:30:00 +0000

Interesting times at Apple, as a crowd of fintech analysts gather to see how far Apple will go from the depths of the financial and banking pool. At the tech giant most recent announcement, they announced that loans initiated under the new Apple Pay Later BNPL product would be funded directly by Apple with the estimated $73 billion in cash they have on their balance sheet. Additionally, Apple announced that it will also make all credit decisions through the newly acquired Credit Kudos platform. BNPL loans will be initiated through the Goldman Sachs platform using the Mastercard Installments product, and while not directly stated, it is assumed that Goldman will continue to manage all operational and service aspects of Apple Card and ‘Apple Pay Later.

Interestingly, Apple isn’t starting this with its own products or in its own stores; Apple Pay Later will be available to all Apple Cardholders at all merchants where they currently use Apple Pay or their Apple Card. As a tech company with no experience in consumer lending, going long in this environment is like walking quickly through the shallow end of the pool and then ducking under the rope and floats to the spot where it begins to deepen. With BNPL lending volume skyrocketing to what many credit analysts predict are unsustainable levels, along with inflationary pressures and rising interest rates, it is one of the riskiest markets to launch. a new consumer loan product, especially for a company with no experience in the region.

This move to lending also has us wondering if Apple is really going to establish itself as a payfac to offer merchant services to iOS device uses, like Square (now a division of parent company Block) did when they launched their audio jack card player more than 10 years ago. years ago.

Preview by Don ApgarDirector of the Merchant Services Advisory Practice at Mercator Advisory Group

How a top lawyer with a salary of $500,000 spends his money Sun, 12 Jun 2022 13:38:40 +0000
  • Big Law salaries are higher than ever, and junior attorneys are reaping the benefits.
  • For those in cheaper markets outside of New York, that can mean tons of discretionary money.
  • A Dallas lawyer told Insider about his expenses and savings.

Insider interviewed an attorney at a major law firm in Dallas who graduated from law school in 2015, earns half a million dollars a year and no longer has student loan debt. He shared his income, views on money, and spending habits for a week. The lawyer requested anonymity because he was not authorized to speak about his firm. His identity is known and verified by Insider. The following has been edited and condensed for clarity.

I was born and raised in Dallas. I went to a private school here in Dallas that is nationally known for its debating program. And I found myself in this little circuit of debaters on national politics. A lot of people go from that to avocado – it’s like a simple step two. Ever since ninth grade, I was like, “Oh, I’m going to be a litigator.”

I think my brain works in a way that makes me good at being a litigator. There are definitely elements of the job that I don’t like, like billable hours, but there’s always a path in the law that makes sense. I think my hours are better than almost anyone else in Big Law. I will probably end the year at 1,900 hours. Last year I billed 1,952 or 1,953 hours, just enough to get the premium.

I had about $140,000 in student loans when I graduated from law school, but paid them off after a few years of work. My fiancée is an asset manager for a private equity firm. We maintain our own accounts and split bills and payments in proportion to our income.

Honestly, I don’t stick to a budget. No budget. Not counting 401(k) contributions, I save about $9,000 to $10,000 a month and then that gets distributed. I save just to save. I want to renovate houses, so I would say a lot more of my money is in cash right now than I usually would like, but I have to be prepared to write a check for a

advance payment

. I bought a house when I was a third-year associate, I believe. My mortgage each month is taken automatically from my checking account, which is about $1,900.

I have so many outrageous discretionary expenses for stupid stuff, like gun stuff. I have a few handguns and an 8 inch assault rifle. What’s the attraction? I think part is a Legos item. I think it’s hard to build. And there is the aesthetic appeal of the collector. And we have a property in Colorado – my family has it – and I like photographing it there.

In my office today, I was like, “It would be nice if I had TV speakers in my office.” Instead of buying a $50 soundbar, I bought a pair of $600 Klipsch speakers. I could easily cut that. It wouldn’t materially affect my happiness.

Recurrent expenses

Income: About $500,000 in 2021, or about $42,000/month.

Mortgage: ~$1,900/month.

Loans: $0. I paid them a few years after I graduated from law school.

Car payments: ~$500/month for a Lexus SUV. The Porsche pays off.

Insurance: ~$300/month. The house and the car are grouped together.

Internet: $100/month.

Cellular: $84/month, of which $60 reimbursed.

Utilities: ~$250/month.

Lawn maintenance: $120/month.

YouTube television

: $70/month.

Grocery: $0. My partner, who works in private equity, takes care of it.

House cleaner: $0. My partner also pays this bill.

Total expenses: $3,264/month

A week in the life

Friday, May 27: I’m in DC visiting co-workers, clients and friends. I would like to be proposed as a partner next year, so it is important to go to the main offices and remind people that I exist. I’m not counting the hotel or Lyfts here because they’re a mix of expense, boring, and uncommitted on regular weeks. I buy a bottle of water and peanuts at a DC courthouse ($5.82). Lunch is at the Shake Shack ($19.97).

In the afternoon, my fiancée, “J”, joins me for the weekend, and we head to a double date at Tail Up Goat with a colleague. We split the bill: $317.39 each. Got a Fernet Flip for a quick after dinner drink ($23.90). Total: $367.08

Saturday May 28: We walk to a bakery near the hotel, A Baked Joint ($34.07). We spend the day walking around DC. But we don’t spend anything other than buying a cupcake from Baked & Wired in the afternoon ($9). J and I are going to Bresca for dinner. It’s a bit pricey ($908.16) because we add extra courses and do wine pairings. But it’s a travel weekend, and I care about food. Total: $951.23

Sunday May 29: We have a leisurely but sober breakfast at the hotel’s Café Riggs ($68.30). Then we head to a partner’s house for a few hours by the pool. (Who has a pool in Washington?) I bring vinho verde and a pet-nat ($52.15). We have pizza ($27.65) and wine ($33.11) and watch a romantic comedy (“When Harry Met Sally”) at the hotel restaurant for dinner. I pretend to complain to J about his choice of movie, but then I laugh a little too hard to maintain my feigned disinterest. Total: $181.21

Monday, May 30: We are going back to Dallas. Other than a few Lyfts, I spend nothing on Mondays. I smoked, then seared steaks I bought at Central Market (a Texas version from Whole Foods that’s 10 times better). Total: $0

Tuesday, May 31: Another day without spending. I make myself a turkey sandwich almost every day for lunch. I grill chicken and broccolini for dinner. I take care of the dinners on Tuesdays and Thursdays. I am in charge of dinners on Mondays and Wednesdays. “In charge” means no consultation. You cook or buy dinner and the other person eats it without complaining. So effective. Total: $0

Wednesday, June 1: I head to the office for my one day a week. I have tacos for lunch ($12.99). I see a good deal on a Barolo on Last Bottle Wines (a very dangerous website) and buy six bottles ($177.65). It’s dangerous to ship wine to Texas in the summer, so I pay a little more for cold shipping. I buy fertilizer and fire starters from Amazon ($40.32), then go for a drink at the Rosewood Mansion ($59.79) with a friend who just started his own law firm. Total: $290.75

Thursday, June 2: I’m going to a law firm event for dinner ($744.47 which I’m obviously going to spend). I bring a Lyft home around 10 p.m. and play “Valorant”, a video game, for an hour. I spend $54.11 for a digital knife. Don’t tell J. Total: $54.11

Friday, June 3: I get a call in the morning that the Bureau of Alcohol, Tobacco, Firearms and Explosives has approved my purchase of a .22 silencer that I ordered months ago. I don’t even own a .22, so I order an almost impossible-to-find FN 502 ($610.50) from a random store in Indiana. I’m also ordering a light ($140.67) and optic ($243.55) from Amazon for the new gun.

I have next to no reason to buy any of these things, but I justify the expense by telling myself that they will help J become more comfortable shooting my other guns (which I don’t have no longer needed). To top off my very Texas day, my neighbor comes by for a cigar and a pizza ($69.77). Total: $1,064.49

Total week: $2,908.87

Who has access to cash in town? Black Leaders Detroit aim to widen the pot » WDET 101.9 FM Thu, 09 Jun 2022 21:43:56 +0000

Ryan Patrick Hooper

Created by Dwan Dandridge Detroit black leaders in 2019 to help increase access to money for black entrepreneurs and nonprofit leaders in Detroit.

The problem is systemic in the Motor City and across the country. A survey conducted last year by the Bank of America showed that 56% of black business owners said they often encountered barriers to obtaining credit. A full 82% of entrepreneurs of color said they often felt like they had to work harder to access capital. About 1,050 small business owners with annual revenues of $100,000 to $5 million were interviewed for the report.

Dandridge says start offering interest-free business loans earlier this year opened a wave of candidates seeking to expand their small businesses in the city.

“In three months, we received $2.2 million in requests,” he says. “People who do not have and would not apply for funding apply [with us] because they know that if they’re turned down, they won’t worry that it’s because they were black.

Visit for more information or to support their cause.

Hear: Dwan Dandridge aims to provide inclusive access to capital for Black entrepreneurs with Black Leaders Detroit.

Reliable, accurate, up to date.

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  • Ryan Patrick Hooper is CultureShift’s award-winning host and producer on NPR station 101.9 WDET-FM Detroit. As a longtime arts and culture journalist and photographer, Hooper has covered stories for NPR, Detroit Free Press, Hour Detroit, SPIN and Paste magazine.

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27 home loan repayment offers to grab in June Wed, 08 Jun 2022 06:34:43 +0000

With a second cash interest rate hike hitting homeowners and potential buyers hard in June from the Reserve Bank of Australia, the era of low interest rates is coming to an end. That means finding your best deal on a home loan has never been more important.

Repayment offers on home loans are one of the ways first-time buyers and refinancers can make the process of getting a home loan more affordable, especially in a time of rising interest rates.

These offers can take the form of cash on hand, but also sweeteners such as waived lender’s mortgage insurance – which can cost tens of thousands of dollars depending on the value of the property – as well as credit points. Qantas frequent flyer bonus when signing up.

Let’s explore the home loan cashback deals on offer for June 2022.

What cashback deals are on offer this month?

As of June, 27 lenders are offering cashback home loan deals to eligible customers. These cash back offers range from $1,000 to $10,000, depending on the size of the home loan.

For example, Reduce Home Loans offers a massive $10,000 cash back to customers with $2 million loans. For a homeowner with a mortgage around $500,000, they are more likely to get approved for cash back offers up to $4,000.

The majority of June cash back offers are aimed at refinancers and can be provided as cash in your account, discount on your mortgage, or as a gift card.

Two of these offers are only available through a broker (ANZ and Citi cashback offers), so it may be worth speaking to a mortgage broker for more information.

First-time home buyers don’t worry, there are still options available to you to make your home loan more affordable. Many lenders also currently offer reduced Lender’s Mortgage Insurance (LMI), depending on the size of your deposit (loan to value ratio).

Typically, first-time home buyers with a down payment of less than 20% of the property value will be charged LMI. This insurance cost can run into the tens of thousands of dollars, depending on the value of your property. Removing this cost may be an option to reduce the financial stress of home ownership for first-time home buyers.

  • For St. George customers, The $1 LMI offer is available to eligible first-time home buyers with a 15% deposit, seeking a homeowner’s home loan and planning to repay principal and interest.
  • For BOQ customers, IMT’s $1 offer is available to homeowners and first-time homebuyers who plan to pay down principal and interest. Approval is limited to deposits as little as 15% on qualifying home loans worth up to $1 million.
  • For UBank customers, you may be able to get approved for a loan with a loan-to-value ratio (LVR) of just 85% without paying LMI.
  • Qantas loyalty points

You may be able to earn bonus Qantas frequent flyer points when you sign up for a home loan.

Macquarie Bank and Qudos Bank are currently offering a home loan sign-up deal that rewards borrowers with Qantas Points. These points may be available upon approval or released during the term of your loan. Plus, you won’t need to spend on qualifying purchases to earn these reward point bonuses.

Lender Qantas Frequent Flyer (QFF) Points Bonus Interest rate Comparison rate To offer
Macquarie Bank Basic Home Loan Flyer Up to 170,000 QFF points when you borrow $600,000 2.44% 2.44% 10,000 QFF points for every $100,000 loan taken out, 1,000 QFF points per month for the life of the loan, 25,000 QFF points on the third and fifth anniversary of your loan.
Qudos Bank Qantas Points Home Loan Up to 200,000 QFF points. 2.94% 2.94% 200,000 QFF points when you apply for a new Qantas Points home loan between 01/04/22 and 30/06/22 and pay by 30/09/22.

Source: Data accurate as of 06/08/2022.

Keep in mind that there is more to a home loan than an offer you are offered and it is always important to compare interest rates, fees and features of a loan before applying.

For more information on whether any of the loans above suit your finances, consider using our home loan calculator to see how potential repayments might fit your budget.

‘Fake’ aluminum stocks highlight the perils of China’s commodity finance Mon, 06 Jun 2022 14:26:40 +0000
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The opaque world of commodity trade finance in China is once again in the spotlight.

This time, metals markets are obsessed with an incident in the southern province of Guangdong, in which several traders claim they were tricked into extending credit for fictitious amounts of aluminum. More than 500 million yuan ($75 million) may have been loaned, backed by metal stocks stored in a warehouse in Foshan city that were worth far less than that.

The amounts in question are relatively small, certainly in the context of the aluminum market in China. Last year, the world’s largest producer produced more than $100 billion worth of lightweight metal, for everything from window frames to auto parts. But what scares traders is the similarity to a much larger scandal eight years ago in the northern port city of Qingdao that sparked a crisis of confidence in China’s metals markets.

What could cause inventory mismatch?

Commodity trading, whether wheat, copper, or oil, is typically a high-volume, low-margin business. To optimize cash flow, traders often pledge their assets against loans. In the metal industry, this security takes the form of warehouse tickets, which record details such as quantity, quality, ownership and location of goods.

Making multiple warrants for a single metal stock would allow the owner to access loans from multiple lenders, a practice sometimes referred to as “over-commitment”. A discrepancy between the receipts and the actual amount of metal could occur in such a procedure.

Why would a trader take this risk?

Merchants operating on already wafer-thin margins have operated under even tougher funding conditions in recent months. Banks have become more cautious about lending due to larger price swings caused by the Russian invasion of Ukraine, as well as nervousness over some high-profile losses in the nickel market.

This has encouraged some to seek alternative financing, including the practice of small private companies pledging their wares to larger state-run traders for cash. Commodity prices are also generally higher due to the war in Ukraine, which means stocks may be worth more as currency for other investments.

The risk now is that large merchants will not lend to their smaller counterparts unless they are confident that their loans are secured by valid warehouse warrants.

How was the potential fault discovered?

This market volatility may have rattled the nerves of creditors. The sharp drop in aluminum prices after the latest virus outbreak brought the entire city of Shanghai to a standstill has led some to try to grab the pledged metal, fearing borrowers may not be able to repay their loans. That’s when the disconnect between too many warrants and not enough aluminum became apparent, according to people familiar with the matter, who declined to be identified discussing a private matter.

What happened during the Qingdao scandal?

The Foshan incident is a relatively small beer and has only involved traders so far. In Qingdao, it was banks, including international institutions, that found themselves most exposed to a trader and his affiliates who repeatedly pledged the same stock of metals for loans of over 20 billion. yuan.

But that in itself is probably instructive. Banks have learned lessons from Qingdao and other commodity finance scandals, making them more cautious lenders and pushing traders to seek alternative arrangements, including borrowing from larger peers. China’s regulator has also urged banks to step up oversight, and the use of metals as funding collateral has since declined.

Other similar frauds outside of China include French and Australian banks hit by 2017 loan losses totaling more than $300 million after discovering fake documents for nickel stored in Asian warehouses owned by Access World. , a subsidiary of Glencore Plc. And in 2020, Singaporean oil trader Hin Leong (Pte) Ltd. falsified documents to obtain trade financing for products he had previously sold.

What are the potential results?

Guangdong local police are investigating and will determine if fraud has taken place, but since the warrants in question have not been registered with the Shanghai Futures Exchange, China’s largest commodity exchange will not be responsible for reviewing. the regulatory angles of the case. Instead, creditors will likely go after warehouses for inventories first, pending investigations to decide whether borrowers are responsible for the losses.

The incident led to a domino effect in which more warehouses in China suspended operations to check on-site metal stocks. The market is facing a loss of confidence, with global commodities giants Glencore Plc and Trafigura Group among traders rushing to check their stocks, according to people familiar with the matter.

Although the Chinese government and its state banks are preparing to increase lending to counter the adverse effects of the virus on the economy, their largesse is unlikely to extend to commodity trading. As such, small businesses may find it more difficult to secure funding in the wake of yet another scandal.

The incident also has a detrimental effect on prices. Aluminum has fallen since news of the possible fraud began circulating, and traders will continue to be wary of buying the metal as this uncertainty around ownership persists. There is also the risk that confidence will be undermined in other important markets for materials that depend on warehouse warrants, such as copper, nickel or zinc.

(Updated with details of traders checking inventories in 14th paragraph)

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