Payment News

In-Person Support Needed by 20% of Dutch Bank Customers

The Dutch National Bank (DNB) has carried out research into how people are coping with adapting to digital payments. Nearly 20% of those over 18 years old, 2.6 million, struggle with digital payments. Opening bank accounts or blocking a bank card cause particular problems because of the dependence on online banking. It appears a chatbot is not the answer.

The research gives detailed information on digital and cash experience of Dutch bank customers.

US Proposal to Limit Late Payment Fees

Fees on late payments of credit cards are a major source of income for card companies, with low income users particularly likely to be paying the fees.

The US Consumer Financial Protection Bureau (CFPB) is proposing a cap on late fees of $8, down from the current average of $30. Late fees over 25% of the consumer’s required payment would be stopped. The proposal would also end inflation adjustments that are currently applied automatically.