Briefing
In the Nick of Time: The Rise of Earned Wage Access
Bradford, Terri; Alcazar, Julian (2020-09-23)
Fintech programs that provide employees access to earned wages ahead of payday have gained popularity during the COVID-19 pandemic. Although consumers benefit from greater financial flexibility, such programs may involve risks.
Payments System Research Briefing

Briefing
Data Aggregators: The Connective Tissue for Open Banking
Alcazar, Julian; Hayashi, Fumiko (2022-08-24)
Open banking, which allows third-party financial apps to access consumer financial data electronically andsecurely, relies on data aggregators to establish connections with consumers’ financial institutions and extract consumer data. Data aggregators are critical to enhancing consumer financial services and increasing competition—both among financial service providers and across payment methods. However, their role raises some concerns related to data security, data privacy, and competition.
Payments System Research Briefing , Issue August 24, 2022 , Pages 6

Briefing
The Rise of Buy Now, Pay Later: Bank and Payment Network Perspectives and Regulatory Considerations
Alcazar, Julian; Bradford, Terri (2021-12-01)
Buy now, pay later (BNPL) products offered by fintechs have gained traction among consumers andmerchants in recent years and could compete with credit cards as a payment option. We explore thereactions of banks and payment networks to BNPL products as well as the current regulatory environment.
Payments System Research Briefing , Issue December 1, 2021 , Pages 6

Briefing
The Appeal and Proliferation of Buy Now, Pay Later: Consumer and Merchant Perspectives
Alcazar, Julian; Bradford, Terri (2021-11-10)
Use of buy now, pay later (BNPL) payment products has been growing in the United States. We explore the benefits and risks of BNPL products for consumers and merchants.
Payments System Research Briefing , Issue November 10, 2021 , Pages 7