Competition turns hot as Tecent, Alibaba gear up for personal finance service

BEIJING, Aug. 20 (Xinhuanet) — After 12 years of being a Chinas leading third-party online payment solution and a leading brand of Internet personal finance, Alibaba’s Alipay finally has a “brother”–Ant Fortune.

Through a one-stop, low threshold, intelligent financing platform, finance and investment will become merged into ordinary peoples life, said a senior administrator of Ant Fortune.

As Internet financing market is booming, China’s vigorous and creative Internet companies will not want to be left out of the picture, not to mention Tecent.

WeBank, the online lender set up by Chinese Internet giant Tencent, also...

Leave a Comment September 1, 2015

THEIRS: Get ready for a long, loud campaign season

If the measure to limit payday loans gets to the ballot, the opposing views manifested in this early stage of signature gathering will only get louder.

You will want to continue to ask questions: Will the measure effectively drive out all payday and title loan companies? Are their exceptions? What about the loans brokered by used car dealers? Could there be unintended consequences from passage?

The attorney general has not yet released his explanation of the short-term lending measure. But when he does, look at it thoroughly.

Lets think of the past weeks activities as a warning. Its going to be a vigorous campaign season.

Smart voters will sort through the all the noise...

Leave a Comment September 1, 2015

Shares of On Deck Capital, Inc. (NYSE:ONDK) Rally 5.62%

On Deck Capital Inc is a United States-based financing network that offers financing to small businesses that do not meet the criteria for traditional bank loans. The Company uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses. The OnDeck system also provides a critically needed mechanism for financial institutions and other business service providers to reach the Main Street small business market. It has offices in Kansas City and McLean Virginia. Its small business loans include dental loans, restaurant loans, medical financing, restaurant financing, fast small business loans, fast small business financing, online...

Leave a Comment August 31, 2015

Tech sector faces challenges if the stock market slide continues

Final week’s inventory sell-off might upend an already complicated panorama for the US know-how sector.

For some time final week it appeared tech shares may escape comparatively unscathed, even because the broader market headed down. However Friday’s three.5% loss for the Nasdaq composite index put the main know-how change into the pink for the yr, down zero.6%.

If shares proceed sliding this week, that would put a drag on investments in know-how corporations, which have been robust this yr. Acquisitions might decide up as preliminary public choices sluggish.

The approaching weeks ought to assist decide whether or not the outlook is as bleak as some worry for start-ups,...

August 31, 2015

CFPB lawsuit against pension advance companies could have broader implications

A new lawsuit, filed by the CFPB and the New York Department of Financial Services
(NY DFS) in a California federal court against two pension advance companies and three of the companies individual managers, again demonstrates the aggressive approach taken by both agencies. The lawsuit follows a consumer advisoryissued by the CFPB in March 2015 regarding pension advance traps to avoid.

The complaint, alleges that the defendants offered consumers pension advances in the form of lump-sum payments that consumers could receive in return for agreeing to redirect all or part of their pension payments, over eight years, to repay the funds. The CFPB and NY DFS allege that the defendants...

August 31, 2015

Merchants Advance Network Named Top Merchant Cash Advance Service by …

NAPLES, FL –(Marketwired – August 24, 2015) – topcreditcardprocessors.com, the independent authority on payment processors, has named Merchants Advance Network the best merchant cash advance service for August 2015. Each month the independent research team at topcreditcardprocessors.com evaluates thousands of services to determine which services produce the most impressive solutions. The rankings are updated on a monthly basis to account for the latest developments within the credit card processing industry.

The process for researching and awarding the best services offering merchant cash advance solutions involves an in-depth investigation of their primary strengths....

August 30, 2015

Staff and technology drive budget talks for Newell School Board

With only a week until the first day of school, the Newell School Board has several items of business to finalize before students arrive.Repairs to windows and roofs from this summer’s storms will be completed this week. In fact, the board and meeting attendees could witness the work crew on the elementary school roof until dark.

The board held their second reading of the 2015-2016 budget. The proposed budget reflected changes to staff salaries and wages, as part of the finalized negotiations. The board officially approved the salaries and wages along with an increase for starting paraprofessionals with an associate’s degree.Additionally, contracts were approved for custodian...

August 29, 2015

Sri Lanka: Hey, Fed, stop the rate wait

Sri Lanka has joined the small club of emerging Asian nations openly asking the Federal Reserve to raise rates sooner rather than later to end the excruciating wait-and-see their financial markets are enduring.

Speaking to CNBC in an exclusive interview, Central Bank of Sri Lanka Governor Arjuna Mahendran said he preferred the US central bank to increase its short-term lending rate by September rather than postpone the long-awaited move.

As I see it, this will be a one-off [interest rate] hike and thereafter, I expect the Fed to remain on hold for several months. From that perspective, I would prefer [the rate hike] to be done by September and we could resume normalcy, the 56-year-old...

August 29, 2015

Electronic Commerce International Offers New Clover Mobile Point of Sale System

Electronic Commerce International, a leading provider of payment processing solutions for merchants who accept electronic transactions for goods and services, has just released its latest product offering-Clover Mobile, a high-powered completely portable full point of sale.

Scottsdale, AZ (PRWEB) August 25, 2015

As one of the fastest growing and leading suppliers of merchant payment processing solutions in the nation, Electronic Commerce International is now offering a new fully portable version of the Clover Station Point-Of-Sale (POS) system-the Clover Mobile. The cutting edge payment terminal has improved functionality over regular mobile credit card terminals, in addition...

August 29, 2015

COMMENTARY: Constraining consumer access doesn’t solve the payday debt trap

The Consumer Financial Protection Bureau, a government agency created after the 2008 financial crisis, is in the process of creating the first set of federal rules governing the short-term lending industry.
Wednesday, August 19, 2015

August 28, 2015

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