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To make ends meet, consumers are using buy now, pay later.

Buy Now, Pay Later installment plans have become popular among consumers seeking to spread out the cost of big purchases . But now, rising prices have some cashstrapped shoppers reaching for these alternative payment methods for everyday purchases, such as their daily coffee, gas station fillup or grocery run , as well . That's a concern for economists and consumer advocates , who say the surge in the use of these services , coupled with a lack of transparency and little regulatory oversight, leaves them wondering just how much debt Americans are actually getting into . While other household debt , such as credit card spending and auto loans , is gathered and tracked by the Federal Reserve CNN]

   Consumers are now using Buy Now, Pay Later platforms for everyday purchases 
  Consumers are now using Buy Now, Pay Later platforms for everyday purchases   Buy.co is one of them

Voice Payments: The Next Big Thing?

In India, the prevailing winds of change appear to be in favor of adopting voice-based payment technology. The voice-based smart assistant revolution, which started with Siri and Alexa, is now being touted as the key enabler for a large percentage of the population to go on board with digital payments. Traditional digital payment is reliable but requires constant checking of account numbers and comparing among applications, etc. Voice technology ushers in a new era of digital payments that's far too fast and convenient.

Critics say that the Consumer Finance Bureau (CFPB) is “out of control” under Biden's director, who was appointed by Trump.

After one of the federal government's most powerful bureaucrats warned he would be "reining in repeat offenders," the nation's largest business group wants to rein in his powers. The U.S. Chamber of Commerce launched a six-figure digital ad campaign in late June targeting Rohit Chopra, director of the Consumer Finance Protection Bureau, appointed by President Biden in 2021 and confirmed without a single Republican vote. Fox Business

J.D. Power: Debit, Credit Card Use Still Outpacing Alternative Payment Methods

According to the survey published by J.D. Power, debit and credit cards are still leading the way in payments transactions over digital payment alternatives, as 32% of U.S. consumers in the last three months turned to their debit card most frequently to pay, while 28% used their credit card. Following cards were ATM withdrawals (12%), cash (11%), check (6%) and mobile wallets (2%). Other payment options such as P2P payment apps, prepaid or gift cards were used by only 1% of consumers during that same period, according to the survey results.

Despite rising prices, consumers continue to spend, says Bank of America.

The bank said that despite rising prices and fears of an economic downturn, consumer spending on credit and debit cards has increased by 11% from the previous year in June. That figure is higher than the 13% increase in April and 9% gain in May. The increase comes as inflation rises and some fear that the US could slide into recession.

Microsoft has reversed its decision to analyze people's faces in the United States, but that doesn't mean it won't do so elsewhere.

Microsoft is distancing itself from some AI-driven features, including facial recognition, and acknowledging the discrimination and accuracy issues that these offerings create. But the company had years to fix the problems, and it didn't. That's like a car manufacturer recalling a vehicle instead of fixing it. Despite concerns that facial recognition technology can be discriminatory, the real issue is that results are inaccurate.ComputerWorld reported that Microsoft has withdrawn its support for some AI features such as facial recognition analysis, but despite this move there are still many unanswered questions about these technologies' accuracy and impact on society

CFPB Warns Debt Collectors About Fees, https://t

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion warning debt collectors that most "pay-to-pay" fees that they often charge violate federal law. These charges, commonly described by debt collectors as "convenience fees," are imposed on consumers who want to make a payment in a particular way, such as online or by phone. This new advisory opinion is another step in the CFPB's crusade against "junk fees", but it adds a new approach that may save resources for the agency while being equally effective as a new rule.

The ways in which retailers are dealing with cryptocurrency payments

A recent report by Deloitte found that a majority of U.S. merchants are expecting an increase in interest for crypto as a form of payment from their customers over the next year, and that many companies are looking at the long-term role of crypto in retail transactions despite current users' lack of interest in market fluctuations, as shown by Gartner's Software Advice study.

Apple is looking for ways to increase its fuel consumption as it ramps up development of the car software.

As soon as this fall, the newest version of Apple's CarPlay software will enable you to buy gas straight from your car dashboard, skipping the usual process that requires you to insert or tap a credit card. At its developer conference this month, Apple quietly unveiled a new feature in CarPlay that lets users navigate to a pump and purchase fuel by tapping an app on their screen in the vehicle.

3D Credit Card Security and How It Could Affect Your Trips to Other Countries

3D Secure, or 3DS, as it's sometimes called, helps verify whether online transactions are authentic. It checks a number of factors to authenticate a purchase, including the location of the user, the history of purchases on that credit card and even whether the personal data provided during the transaction matches what the bank has on file. If technology identifies any abnormalities during this verification process, it may institute an additional security check via text message, email or phone call before completing the purchase. Users benefit from an improved experience with a simpler transaction. Banks benefit from reduced fraud and chargebacks. And merchants benefit by having an easier process for consumers so that they actually complete the transaction and spend money with them.