Новости за 31.05.2024

Consumers expect fashion retailers to meet their preferences as they evolve, Gap noted on its latest earnings call, with the rise of eCommerce speeding up the trend cycle and demanding that brands become more agile. On a call with analysts Thursday (May 30) discussing Gap Inc.’s first-quarter fiscal 2024 financial results, CEO Richard Dickson said […]

Forward plans to help more software-as-a-service (SaaS) companies add payments as a product after raising $16 million in seed financing. The company will use the new financing to meet the growing demand for this offering and to apply artificial intelligence (AI) to the risk functions of payments, Forward said in a Thursday (May 30) press […]

FintechOS has raised $60 million in a Series B+ investment round to accelerate the global expansion of its financial product management platform. The company’s platform is designed to help banks, insurers and other financial institutions modernize their core infrastructure, FintechOS said in a Thursday (May 30) press release. “We are revolutionizing the financial services industry […]

This week in artificial intelligence news, tech giants C3.ai, HP and nCino reported strong first-quarter earnings, all fueled by the increasing demand for AI products and services. Meanwhile, states are looking at regulations and the Department of Justice eyes AI content deals. Tech Giants Ride the AI Wave to Strong Q1 Earnings In the first […]

As Amazon looks to make its Prime membership increasingly indispensable to customers’ day-to-day lives, the eCommerce giant’s new partnership with Grubhub aims to drive more frequent engagement with the subscription’s offerings. On Thursday (May 30), Amazon announced the expansion of its partnership with Grubhub. In an interview with PYMNTS, Jamil Ghani, vice president of Amazon […]

Forty percent of the independent mom-and-pop restaurants in the U.S. that generate $10 million or less annually now use instant payment rails as their primary method to send funds. And these restaurateurs are pleased with the results, according to PYMNTS Intelligence data. Seventy percent say they appreciate how easy it is to use instant payments, […]

Data is the oil of the 21st century, as you’ve likely heard. That’s because digital information acts as both a lubricant and an ignition agent for nearly every innovation transforming business, payments and commerce. But with the news that a cyber-attack on the auction house Christie’s has resulted in the theft of collector details and […]

London-based FinTech company Revolut has reportedly set its sights on the Asia-Pacific (APAC) region for its global expansion strategy. Charlie Short, head of growth at Revolut, told Bloomberg the company is committed to accelerating growth in markets such as Australia, New Zealand and Singapore, according to a report posted Friday (May 31). Revolut offers a […]

The Consumer Financial Protection Bureau (CFPB) has sued student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that it collects on loans that borrowers do not owe. Specifically, the agency alleges in its complaint that PHEAA, which does business as American Education Services (AES), illegally collects on student loans that have been discharged and […]

Apple is gearing up to give its digital assistant, Siri, an artificial intelligence-powered upgrade, potentially posing a challenge to Amazon’s dominant Alexa. The Cupertino-based tech giant is working on a new system that will allow users to control individual app functions using voice commands, marking a leap forward in Siri’s capabilities, Bloomberg reported Thursday (May […]

Financial Information Technologies (Fintech) has expanded its platform’s automated invoice processing capabilities to include all B2B transactions. Previously designed to handle the retail and hospitality industries’ purchases of alcohol, the company’s PaymentSource accounts payable (AP) automation platform can now handle all their business purchases, Fintech said in a Thursday (May 30) press release. This capability […]

Inflation’s heady pace may have slowed a bit, but one wonders if a slight decline in food prices will be enough to make the paycheck-to-paycheck consumer feel more financially comfortable. As reported by the Bureau of Economic Analysis, the Personal Consumption Expenditures Index (PCE) was up 0.3% in April, measured month over month, including all […]

In recent years, QR code menus gained popularity among restaurants as a way to streamline service and reduce the need for additional staff. However, consumer complaints have reportedly prompted a shift in the industry. Many diners have expressed frustration with QR code menus, citing issues such as difficulty in navigating the menus, concerns about privacy […]

TikTok has reportedly decided to put its plans for expanding its eCommerce business in major European markets on hold. Instead, the ByteDance-owned social media platform will concentrate on growing its presence in the United States, its most lucrative market, where it faces potential divestment or ban, Bloomberg reported Friday (May 31). TikTok’s eCommerce business, known […]

A wide variety of consumers across income levels and ages are showing a preference for paying for purchases with cash and debit cards, likely in hopes of better managing their debt levels. This is just one trend that emerges in PYMNTS Intelligence’s Last Transaction Report, “Younger Consumers Lead Payment Shift From Credit to Debit,” which […]

The U.S. Justice Department has intensified its scrutiny of content deals involving artificial intelligence (AI) companies such as OpenAI. Jonathan Kanter, the agency’s top antitrust official, has emphasized that entering into deals where one party exercises monopsony power may not be acceptable under the law. According to Bloomberg, Kanter made these remarks during an interview […]

At a time of higher interest rates and heightened market volatility, actionable insights and forecasting take on greater importance for corporate treasury teams. For example, better cash flow prediction can allow treasurers to manage liquidity more tightly, minimizing financing costs. However, the wealth of data now available to large companies does not automatically transform into […]

As we move fast and furiously into a digitally connected economy, payments modernization is essential. After all, how businesses and consumers pay, and get paid, is central to defining the future of both commerce and daily life. That’s why the modernization of payment systems is not just a convenience — it’s an imperative. Yet that […]

Payments modernization, depending on the financial services company, will be synonymous with upgrades. But it also needs to be synonymous with innovation, collaboration and business outcomes. As Wally Mlynarski, head of merchant solutions and receivables at Bank of America, told PYMNTS for the “What’s Next In Payments” series, modernizing payment infrastructures represents a shift in […]

Earnings dragged down several names in the FinTech IPO Index, but the overall performance was positive, up 1.2%. A few double-digit gainers led the way. MoneyLion shares gained more than 20% through the past five sessions.  As has been spotlighted by PYMNTS earlier in the month, the business model has been transforming toward what CEO […]

Banks are increasingly aware of the competitive threat posed by digital-native FinTechs, which are quickly gaining market share with innovative digital offerings. Until 2024, only a minority of bankers saw this threat as significant, but that share rose to a majority this year, with 60% of bank executives now seeing big FinTechs as a significant […]

As Amazon looks to make a dent in Walmart’s share of consumer grocery spending, the eCommerce company is joining the list of retail giants making widespread price cuts to common food items as shoppers seek the best bargain. The online marketplace’s Amazon Fresh grocery division is rolling out discounts of up to 30% on 4,000 […]

As payments shift from traditional and manual workflows to automated, digital ones, everything will change. And that’s a good thing for global commerce. “Across the global landscape, three things are driving payments modernization,” Rossana Thomas, vice president and general manager of the Enterprise Payments Platform at Fiserv, told PYMNTS for the series “What’s Next in […]

Discretionary items are back on consumers’ shopping lists, Costco said Thursday (May 30) during its quarterly earnings report. During the quarter ended May 12, the retailer saw toys, tires, lawn and garden, and health and beauty aids lead growth in the non-foods category. “As inflation has leveled off, our members are returning to purchasing more […]

Nike’s layoffs have reportedly impacted employees in the company’s archive that stores shoes, gear and other artifacts from the brand’s history. Some members of the small team at the Department of Nike Archives (DNA) have been laid off, Bloomberg reported Thursday (May 30). DNA was started in 2006, is housed in Nike’s headquarters in Oregon […]