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- Cardlytics Inc., a company that uses purchase data to help financial institutions manage their rewards programs with retail partners, reported its count of monthly active users reached 108.5 million in the first quarter, up 85% over the first quarter of 2018, as users from new clients JPMorgan Chase & Co. and Wells Fargo & Co. filter in. Revenue totaled $36 million, up 10%, while the company’s net loss narrowed to $6.3 million from $20 million.
- Scratchpay, a financial-services provider focused on payment plans for veterinary care, announced a savings account and customized debit card managed by Green Dot Bank. The account features no minimum balance and no monthly fee, and offers pet-related rewards.
- In an unusual collaboration of payments companies, Klarna, Adyen, and China’s Alipay have teamed to enable shoppers in Germany, the Netherlands, Austria, and Finland who use AliExpress, Alibaba Group’s online marketplace, to pay later via Klarna. Adyen’s gateway provides access to Klarna.
- Following growth of more than 3% in January and February, consumer revolving credit contracted at a 2.5% annualized rate in March, the Federal Reserve reported this week. Still, revolving credit outstandings on a seasonally adjusted basis grew 3.2% year-over-year in March to $1.06 trillion.
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