Новости за 14.06.2024

As Gen Z shows an inclination for shopping from retailers’ own brands, major players are tailoring their private-label offerings to these young consumers’ desires and preferences. Walmart, for instance, recently relaunched its $2 billion No Boundaries fashion brand with an eye toward attracting new Gen Z shoppers. “There’s a huge opportunity for Walmart to reach […]

New York Community Bancorp (NYCB) released financial information about its March acquisition of certain assets of Signature Bridge Bank, the successor to Signature Bank, from that bank’s receiver, the Federal Deposit Insurance Corp. (FDIC). NYCB’s wholly-owned subsidiary, Flagstar Bank, acquired assets with an estimated total fair value of $37.8 billion as of the transaction date, […]

This week in artificial intelligence news, AI is changing shopping experiences and generating video content across various sectors. This week’s developments showcase the technology’s potential, with Apple, Luma AI and Intuit unveiling AI-powered solutions. However, as the AI landscape evolves rapidly, regulators are faced with the complex task of striking a balance between fostering innovation and […]

After 30 years of barring foreigners from its banking sector, Ethiopia is reportedly considering allowing overseas banks to buy stakes in domestic lenders. A bill moving through the country’s legislature would allow overseas firms to buy stakes in domestic banks, set up subsidiaries, open branches, establish representative offices and, in some cases, take over a […]

While 68% of U.S. consumers own general-purpose credit cards, 28% now carry specialized co-branded or store-issued cards, and the appeal of travel-related cards is strong. The PYMNTS Intelligence report “The Role of Strategic Partnerships in Consumer Credit Cards” found that across the board, the popularity of specialized cards — especially among younger consumers — is […]

This week in PYMNTS, industry insiders discuss everything from composable banking to network tokenization to which tradeoffs lipstick buyers are and are not willing to make. The Future of Credit Carl Pascarella, former CEO of Visa USA for more than a decade and current investor and board member at LoanPro, argued that consolidating credit and […]

There’s a new on-chain token in town, and it’s not the one you’re thinking of. While there exists a variety of “tokens” within the 21st-century payments and financial services landscape, with innovations ranging from cryptocurrency tokens to tokenized payments, it is a third token, tokenized commercial bank assets — or deposit tokens — that are […]

VersaBank needs only one more regulatory approval to proceed with its acquisition of Stearns Bank Holdingford. The bank received approval from the Office of the Comptroller of the Currency (OCC) Friday (June 14) — marking the second and final U.S. regulatory approval it needs for the acquisition — and it will now seek approval from its Canadian […]

Tech giant Microsoft has decided to delay the rollout of “Recall,” its artificial intelligence (AI)-powered feature designed to track and store users’ computer activity. The company announced on Thursday (June 13) that instead of rolling out Recall to all its new computers next week, it will take a more cautious approach by previewing the feature […]

Shift4 has acquired a majority stake in Vectron Systems, a supplier of point-of-sale (POS) systems to the restaurant and hospitality verticals in Europe. This acquisition is expected to provide Shift4, a provider of integrated payments and commerce technology, with a customer footprint across Europe, a distribution network of about 300 POS resellers, and the opportunity […]

As concerns grow that large language models (LLMs) are running out of high-quality training data, Nvidia has released Nemotron-4 340B, a family of open models designed to generate synthetic data for training LLMs across various industries. LLMs are artificial intelligence (AI) models that can understand and generate human-like text based on vast amounts of training […]

Canary Technologies raised $50 million in a Series C funding round to support its deployment of artificial intelligence for the hospitality industry. The company offers a Guest Management Platform and is rolling out guest-facing AI, Canary said in a Wednesday (June 12) press release. With the new funding, the company will continue building its team, […]

Financial institutions (FIs) can’t meet the evolving needs of digital-first customers with traditional solutions and infrastructure.  That’s why the finance industry must continually modernize the banking experience — and its relatively monolithic core architecture — to adapt to technological, behavioral and market disruptions. With the news Wednesday (June 12) that JPMorgan has joined the MACH […]

Target reportedly lost market share in several of its key product categories in the first quarter. The retailer’s share shrank in food and household goods, clothing, electronics, homewares and furniture — categories that collectively account for 60% of its revenue, Reuters reported Friday (June 14), citing data from market research firm GlobalData. In addition, Target’s purchase rates and […]

Layer3 raised $15 million in a Series A funding round to support its omnichain identity and distribution protocol that helps cryptocurrency consumers discover and earn rewards from projects. The company also reported that it raised a previously unannounced $3.7 million round in 2022 and a $2.5 million round in 2021. Altogether, Layer3 has raised $21.2 […]

In 2024, a few key concerns bubble consistently to the top of the list for the paycheck-to-paycheck economy. The PYMNTS Intelligence report “New Reality Check: The Paycheck-to-Paycheck Report: Why One-Third of High Earners Live Paycheck to Paycheck” found that 82% of the roughly 4,000 respondents said concerns about inflation are No. 1 on the list […]

Luxury brands in China are reportedly resorting to “unprecedented” discounts to sell unsold inventory and entice cautious Chinese consumers. The price cuts reflect growing concerns over a slowdown in spending among local shoppers, Bloomberg reported Friday (June 14). Balenciaga, a part of French luxury conglomerate Kering, has been offering discounts of up to 40% on […]

The U.S. State Department recently announced it is beta testing a public-facing program that enables would-be travelers to renew passports online. As of this week, people who want to renew their passports digitally can do so online. However, because the program is in trial mode, access is limited. It will only be available for a […]

It might not get the amount of play that real-time payments, open banking and artificial intelligence get, but the global payments industry reached a milestone recently when the U.S. CHIPS network, one of the world’s largest dollar clearing systems, completed its migration to the ISO 20022 messaging standard. This move brings the industry one step […]

When it comes to financial technology and payments modernization, there’s nothing like a seasoned veteran of the business for some perspective. Carl Pascarella, former CEO of Visa USA from 1993 to 2005, believes that the credit industry requires an upgrade. After following his time in corporate finance with a stint in private equity, he is […]

As Walmart and Amazon compete to stay at the forefront of retail’s omnichannel transformation, the two industry giants are integrating digital technologies into physical stores, aiming to provide the most convenient, connected shopping experience. Walmart, for its part, is digitizing shelf tags to make brick-and-mortar operations more efficient, which in turn will translate to a […]

Small- to medium-sized businesses (SMBs) in the transportation sector use instant payments more widely than other payment options. PYMNTS Intelligence finds that in the last year, 74% of these businesses surveyed sent instant payments. In fact, 48% of these SMBs identify an instant option as their most used form of payment. Push-to-debit cards are the […]

Affirm saw its stock rally 7.8% this past week, but the overall trend for the FinTech IPO Index was down, as the group sank 3.8%. Affirm Gets a Bump from Apple Apple said that Apple Pay users in the United States will be able to apply for buy now, pay later (BNPL) loans through Affirm […]

BNP Paribas and BPCE have partnered to create a payment processor that would handle all card payments from the two banks in Europe and could also be opened to other banks.  With 17 billion transactions from BNP Paribas and BPCE alone, the processor would be the No. 1 processor in France, and the two banks aim […]

Credit card swipe fee litigation that has been fought for two decades is reportedly likely to remain unresolved for some time longer. A federal judge is likely to reject a $30 billion settlement between Visa, Mastercard and retailers that was announced in March but remains subject to court approval, Bloomberg reported Thursday (June 13). During a Thursday hearing, Judge Margo […]