Private credit and buy-now-pay-later firms are teaming up to cut banks out of the consumer finance supply chain.
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But the new don’t require platforms to report how they interact with credit bureaus, keeping many transactions in a black box.
The agreement with US-based merchants is expected to reduce the credit card titans’ take by a combined $30 billion through 2030.
The mega bank intends to buy the fourth-leading credit card network in the US.
The biggest four banks in the US all saw their customers boost spending in 2023, as delinquencies rise in turn.
Facing eye-watering amounts of debt and record-high interest rates, US consumers have started charging less on their credit cards.
Its recent patent adds to several for cryogenic storage that works in tandem with server farms.
Using fake data is “not a panacea” to the security woes these models face.
Despite the buzz, the promises of this tech may be “underhyped,” one expert said.