Wednesday, September 20, 2023
The New York State Supreme Court ordered three merchant cash advance companies to repay millions of dollars to thousands of small businesses that took out what the court describes as "predatory" loans, some with effective interest rates far in excess of legal limit, dating back as far as 2014.
This week's featured contributor:
Founded on 03/03/03, Adam Atlas Attorneys at Law is a boutique fintech and crypto law firm dedicated to top-tier personal advice to clients.
Atlas Currency and Payments Law Updates
In his blog, Adam shares insights on up-to-the-minute developments and trends in payments such as what to be thankful for right now in crypto and payments, electronic payments and crypto amid COVID, understanding U.S. MSB risk, and more.Read More
By Dale S. Laszig
In the payments industry's early days, merchant and consumer behaviors were as fixed as the countertop terminals that dominated retail and hospitality. Technologies held little interest beyond payment request, authorization and settlement. Fraudsters stole paper receipts from trash bins, perpetrating one-on-one attacks before truncated receipts and massive breaches forever changed the game.
Company profile from GS230901
Utopaya, a payments industry consultancy specializing in the independent software vendor (ISV) partnership channel, was established in 2022. The company helps vertical software-as-a-service (SaaS) clients create a comprehensive, integrated payments strategy that addresses technology requirements, operational planning, marketing and commercialization, according to Brian Abernethy, founder and CEO of Utopaya.
Kevin Feagan, CRO at Everyware, talks with James and Patti about the firm's Pay by Text solution, which now incorporates BNPL, and the movement toward what he calls "conversational commerce." Plus, James offers a formula for managing follow-ups, and Patti reports on consumer preferences for omnichannel experiences.