Новости за 11.04.2024

With ongoing financial challenges constraining shoppers’ purchasing power, furniture companies’ recent earnings reports show that consumers may not be willing to buy, say, a new couch if they are not getting it at a bargain. Hooker Furnishings, for example, shared on a call with analysts Thursday (April 11) discussing its fourth-quarter and full-year fiscal 2024 […]

Consumer protection officials for the United States and the European Commission have met to discuss three shared priorities: buy now, pay later (BNPL), digital payments and artificial intelligence (AI). The three meetings followed a July 2023 announcement by U.S. Consumer Financial Protection Bureau (CFPB) and the European Commission that they would start an informal dialogue […]

Mimo raised 15.5 million pounds (about $19.4 million) to launch its financial management platform for small- to medium-sized businesses (SMBs) and accountants. The platform helps these businesses simplify global payments, cash flow and financial management, the company said in a Thursday (April 11) press release. The company’s solution is designed to help SMBs and accountants pay invoices, […]

Onbe and ScrapRight have partnered to help scrapyards and recycling centers make instant digital payouts to sellers. With this partnership, Onbe’s digital payouts gateway has been integrated with ScrapRight’s recycling management software, the companies said in a Thursday (April 11) press release. “As the latest addition to our end-to-end platform, Onbe’s digital payouts gateway lets scrapyards eliminate the risk […]

To further increase its already substantial share of the retail market, last month Amazon announced its first Big Spring Sale. The sale ran from March 20 to March 25, and although the eCommerce giant likely anticipated it would move a lot of merchandise and boost first-quarter earnings, PYMNTS Intelligence data showed the event was a bit underwhelming. This […]

Toast has launched its Restaurant Management Suite with new features for multi-unit, enterprise brands. These features join the company’s cloud-based digital technology platform that is built for restaurants of all sizes and is used in more than 100,000 restaurant locations, the company said in a Thursday (April 11) press release. “To succeed in today’s competitive […]

In signs of continued pressure in the paycheck-to-paycheck economy, more consumers are making only the minimum payments on their credit cards. And the debt on those cards is rising. The balancing act between running in place, so to speak, on that card debt and falling into delinquency status is getting tougher to navigate. Delinquencies are […]

One if by land, two if by sea — headaches, that is. With the recent news that, after 22 years of partnership, UPS is replacing FedEx as the primary air cargo provider for the United States Postal Service (USPS), air transport is now top of mind for businesses dealing with supply chain snarls. That’s because, […]

Adobe is reportedly paying artists and photographers to supply videos and images that will be used to train the company’s artificial intelligence models. The company is using images from its own library of stock media but is paying contributors to fill in any gaps in the materials it has available, Bloomberg reported Thursday (April 11). Adobe is paying […]

A migration to a new standard — a common payment processing language — for cross-border payments is no mean feat. Legacy tech, the shift to straight-through processing, staggered industry timelines and compliance deadlines have all posed challenges to banks and to the payments systems themselves.   On Monday (April 8), and as announced Wednesday (April 10), The […]

Andy McHale, senior director of product and market strategy at Spreedly, told PYMNTS that online platforms offer advantages to all stakeholders — and they can offer an optimal payments experience. But, as he remarked, “when we talk about platforms, marketplaces or [independent software vendors (ISVs)] — depending on the term that you may want to use […]

Today’s chief financial officers are as different from 1970s bean counters as apples are from oranges. In an operational landscape marked by ongoing uncertainty and a sea change of macro shifts, modern CFOs have had to adapt to a new world of business realities — and fast. “It naturally elevates the CFO role when your […]

Open banking, the legal framework permitting secure data sharing amongst financial institutions (FIs) and third-party FinTechs to enhance the products and services they offer consumers, has proven to be popular with both regulators and consumers. But when FI executives were asked about open banking, the reviews were mixed.  As PYMNTS Intelligence found in compiling “How Fraud Fears Impact […]

The way businesses pay vendors, handle invoices and apply for financing is, in many ways, what defines and drives their business strategy.  And the financial operations supporting today’s top business strategies are increasingly getting a shot in the arm from artificial intelligence (AI) solutions that are redefining efficiency, payment speed and vendor settlement for businesses.  […]

A growing share of credit card accounts are past due on their payments. The Federal Reserve Bank of Philadelphia said in a Wednesday (April 10) press release that the share of accounts that were 30-plus days and 60-plus days past due in the fourth quarter of 2023 was the highest since the bank began reporting this data in […]

OpenAI CEO Sam Altman is reportedly meeting with government and industry officials in several countries in an effort to support the building of infrastructure for artificial intelligence (AI). The talks encompass the need for chips, energy and data centers, Bloomberg reported Wednesday (April 10), citing unnamed sources. OpenAI believes that one of the biggest challenges facing the tech […]

For Apple — and as been seen already with Block (formerly Square) — the drive is to get consumers to spend the cash, rather than just bank it. Apple, of course, has been forging an ecosystem that includes financial services, where Apple Cash serves as a linchpin. The cash card is built into Apple devices, […]

The cryptocurrency industry can learn lessons from the settlements three crypto exchanges reached with regulators. So said the chief compliance officers of Binance, Coinbase and Kraken while speaking Wednesday (April 10) at Chainalysis’ Links conference in New York, the Wall Street Journal (WSJ) reported Wednesday. Each of the three companies reached settlements with U.S. regulators within the […]

California state lawmakers are considering legislation that would limit the number of overdraft fees credit unions (CUs) can charge their members. Under SB-1075, the 100+ CUs now doing business in the Golden State would be prohibited from charging their customers more than three overdraft fees per month. The bill would also require CUs to give customers […]

The banking landscape is undergoing a digital transformation, as traditional financial institutions (FIs) race to keep pace with evolving consumer preferences and technological advancements.  Santander’s recent announcement of plans to launch its digital bank, Openbank, in the United States and Mexico in the second half of 2024 underscores the accelerating pace of this shift.  Moreover, this move reflects […]

Nav has added a new “credit health experience” to its financial health platform for small businesses. The new Nav Credit Health helps small business owners understand their business and personal credit, learn how to improve them, and see how they can use both their current and future position to access funding, the company said in a […]

As consumers demand more frictionless experiences from their eCommerce merchants, Rent the Runway is seeing its digital rethink drive higher retention. The company shared in a presentation Wednesday (April 10), alongside its fourth quarter and full year fiscal 2023 financial results, that it saw loyalty rise 10% year over year following improvements to the user experience on its […]

Retailers’ revenue from store credit cards is reportedly facing pressure for several reasons. These forces are impacting all retailers, but especially department stores, whose businesses face other challenges as well, CNBC reported Wednesday (April 10). The latest change affecting store credit cards is the new federal rule that will cap credit card late fees at $8, according […]

America’s leading consumer watchdog is reportedly weighing a sweeping change to the title insurance industry. As Bloomberg News reported Wednesday (April 10), the Consumer Financial Protection Bureau (CFPB) is considering whether to forbid mortgage bankers from charging homeowners for title insurance, ending a long-held practice. Sources say the CFPB’s plan is in the early stages. […]

For account-to-account (A2A) payment providers, PYMNTS Intelligence research finds, education continues to present a huge barrier to adoption. By the Numbers A2A payments, which bypass the middleman to move money quickly from one account to another, commonly enabled by providers such as PayPal, Venmo or Cash App, are gaining ground. In fact, 36% of consumers […]