Topic
payments
Finance Samsung Galaxy Card Launches on Visa Network with Barclays, No Annual Fee
Samsung announced the Galaxy Card, a credit card issued by Barclays on the Visa network, with no annual fee and cash rewards up to 5% on Samsung purchases. The card targets Samsung loyalists with perks like 3% back via Samsung Wallet and no foreign transaction fees. Applications open July 22.
E-Commerce & Marketplaces BNPL Rules Bring Refunds and Rejections as FCA Regulation Takes Effect
New Financial Conduct Authority rules effective from Wednesday require Buy Now Pay Later lenders to be authorised, giving shoppers stronger refund rights and access to the Financial Ombudsman Service. However, instant affordability checks on each transaction may reject 10% to 30% of users, according to Fair4All Finance, raising concerns about pushing consumers toward unregulated alternatives.
E-Commerce & Marketplaces EMI and instalment-based smartphone purchases nearly at par with one-time payments in India
According to Counterpoint Research, smartphone financing via NBFCs and credit/debit card EMIs will account for 42% of total smartphone sales in India in 2026, up from 35% in 2025. The trend is driven by rising smartphone prices, attractive no-cost EMI schemes, and increasing consumer preference for monthly payments. Samsung leads in financing penetration with its Samsung Finance+ and other options.
FCA Delays Car Finance Compensation Payments Until 2027, Average Payout Set at £829
The Financial Conduct Authority (FCA) has delayed compensation payments for millions of drivers mis-sold car finance agreements until at least 2027. Average payouts of about £829 are expected under the FCA's proposals, with total compensation costs including administration reaching £9.1bn. Legal challenges have delayed calculations and payments, affecting approximately 12 million car loans.
E-Commerce & Marketplaces Kunal Shah Appointed Global Head of WhatsApp, Stepping Away From Cred Day-to-Day
Meta Platforms appointed Kunal Shah as global head of WhatsApp, replacing Will Cathcart. Shah will relocate to Meta's California headquarters and step away from day-to-day responsibilities at Cred while remaining a shareholder. The move marks a high-profile transition of an Indian startup founder into a top bigtech product leadership role.
Technology Pine Labs Launches India’s First Agent-to-Agent UPI Payment Protocol for AI Deals
Pine Labs has launched the Pine Labs Payment Protocol (P3P), India's first agent-to-agent payment capability built on UPI mandate architecture. The system allows users to authorize an AI agent to independently execute transactions based on predefined conditions, removing the need for human authentication at the point of transaction.
Technology OpenAI agents to make Visa payments via ChatGPT and Atlas browser
Visa and OpenAI have partnered to enable AI agents within ChatGPT and the Atlas browser to make secure Visa payments on behalf of users. The deal introduces tokenized credentials, spending limits, and merchant restrictions, aiming to standardise agentic payments. Mastercard announced a similar platform a year ago.