Новости за 21.06.2024

OpenAI, the artificial intelligence (AI) firm behind ChatGPT, has bought enterprise search and analytics startup Rockset, according to a Friday (June 21) report by Bloomberg. While financial terms were not disclosed, the acquisition is notable for OpenAI’s plans to fully integrate Rockset’s technology and key personnel. This approach diverges from OpenAI’s previous “acquihire” strategy, where […]

Walmart and Capital One have reportedly settled a lawsuit centering on their former credit card partnership. The case was dismissed Thursday (June 20) by a judge after the companies resolved their claims and counterclaims, Reuters reported Friday (June 21). The terms of the settlement were not disclosed, according to the report. Neither Walmart nor Capital […]

Back-to-school sales are getting earlier and earlier, as brands and retailers look to beat their competition to the punch. Apple, for instance, has already kicked off its deals for the season, with deals having gone live Thursday (June 20), according to the tech giant’s site, and running through September. For eligible students, parents, employees at […]

American Express has announced agreements to acquire two technology providers — Tock and Rooam — to expand its suite of digital tools for restaurants and merchants. Both transactions are subject to customary closing conditions, and the Tock acquisition also requires regulatory approval, American Express said in a Friday (June 21) press release. The acquisitions will build upon the dining […]

The majority of consumers now seek out both digital and physical channels in their car buying journey, according to CarMax, and this omnichannel adoption continues to grow. The used vehicle retailer shared on a call with analysts Friday (June 21) discussing its first-quarter fiscal 2025 financial results that, while most consumers still complete their car […]

Banco Santander and Amazon are reportedly close to reaching a deal in which the bank would provide financing options for Amazon shoppers across the Europe Union (EU). The negotiations between the companies are at an advanced stage, Bloomberg reported Friday (June 21), citing unnamed sources. Reached by PYMNTS, both Amazon and Santander declined to comment on the […]

Software, and digital transformation more broadly, have transformed the business landscape. Nearly every modern business relies on software to run their operations, and digital technology has become a pervasive, invisible thread enabling and optimizing workflows. When it works well, businesses software fades into the background. But when a disruption happens, entire sectors can grind to […]

Fifty-four percent of acquirers — those financial institutions (FIs) that process credit and debit card transactions on behalf of merchants — say they support card-linked installment options, but recent PYMNTS Intelligence data reveals the actual percentage is much lower. According to our report, “Navigating New Norms: The Use of Card-Linked Installment Plans in Online and […]

Ten years from now, artificial intelligence (AI) will be 10,000 times smarter than humans, SoftBank CEO Masayoshi Son reportedly said Friday (June 21). Speaking during SoftBank’s annual general meeting of shareholders, Son dubbed this degree of AI “artificial super intelligence (ASI),” CNBC reported Friday. Son added that within three to five years, the industry is likely to achieve […]

Cryptocurrency exchange BitoGroup and Far Eastern International Bank Bankee have partnered to launch a dedicated “crypto-friendly bank account.” With this collaboration between the crypto exchange and the financial institution, the companies aim to improve user confidence in transactions and improve the image of crypto, BitoGroup said in a Friday (June 21) press release. “The Bankee dedicated account […]

For the banking as a service (BaaS) firms, the Synapse bankruptcy, the cease-and-desist order against Evolve, and the wait for regulatory clarity are all proving to be headwinds for the burgeoning business model. This week, BaaS embedded finance company Unit, which serves tech companies, banks and brands, said it was laying off 15% of its staff. […]

Asian digital payments provider Pine Labs is reportedly considering a $1 billion initial public offering (IPO) in India, seeking a valuation of $6 billion. The company may issue both new and secondary shares, and it could do a pre-IPO fundraising round, Bloomberg reported Friday (June 21), citing unnamed sources. No final decisions have been made, and the […]

Both the banking and business landscape are being reshaped by next-generation behavioral expectations. In order to meet these emerging end-user expectations, which tend to center around convenience, security and digital innovation, it has never been more important for financial institutions (FIs) to stand up competitive offerings — particularly for their commercial clients. And with the […]

With the shift in media consumption toward streaming so ingrained now, consumers are no longer as excited about the option to view more content from the comfort of their homes — they are hungry for in-person experiences, and media companies are getting onboard. Take, for instance, Sony. The multi-industry giant’s film subsidiary Sony Pictures Entertainment […]

China is reportedly negotiating with Visa, Mastercard and other global card issuers, seeking to reduce the fees they charge local merchants on foreign card transactions. The Payment & Clearing Association of China has proposed that the card issuers reduce their fees from the current range of between 2% and 3% to 1.5%, Bloomberg reported Friday […]

Last year marked a seismic shift in financial services — as five bank failures tested the ways and means at the disposal of government and industry to prevent wider contagion. Silicon Valley Bank, of course, was the arguably the headliner, representing the second largest bank failure in history. The Federal Deposit Insurance Corp (FDIC) estimated […]

Revolut is reportedly planning a share sale and seeking a valuation that would be close to that of Lloyds Banking Group. The British FinTech is seeking a valuation of greater than $40 billion as it works to sell about $500 million worth of employee shares and other existing shares, the Financial Times (FT) reported Thursday […]

The big consumer news last Friday was that the University of Michigan’s June Consumer Sentiment Index hit a seven-month low. Many scratched their heads, particularly since the CPI print earlier in the week came in flat and the economy appears to be firing on all cylinders. But there’s nothing like asking consumers how they’re feeling […]

Overpayment disbursements are not the most common payouts nor the largest. In fact, just 7.1% of consumers report they received overpayment disbursements this year. The average overpayment disbursement is just $68, compared to $433 for the average disbursement. Still, many consumers want to receive these as instant refunds. In fact, 4 in 5 consumers say […]

Merchants are increasingly recognizing the value of offering general-purpose credit card-linked installment plans. In fact, 37% of merchants now provide these installment plans at checkout. This shift — a 16% rise since December 2023 — highlights how rapidly consumer demand for flexible or pay later solutions has expanded. More merchants are leveraging consumers’ growing interest […]

Without education, awareness, or utility, any innovation will find it hard to scale. Fortunately for open banking, which allows consumers to securely connect to their bank accounts to pay merchants and service providers using their regular online banking credentials, the innovation can draw from its success and killer use cases across both Europe and the […]

As Amazon and Walmart look to secure the affinity of young consumers whose spending power is on the rise, the two retail giants are looking for new ways to meet Zillennials’ demand for more sustainable practices. Amazon, for its part, announced Thursday (June 20) that it has substituted almost all of the plastic air pillows […]

The relationships between FinTechs, banks and neobanks has been placed under a harsh spotlight with the recent revelations around the Synapse bankruptcy. The reaction from the industry so far has focused on the Synapse case as an isolated incident rather than a systemic issue, but it has also been the occasion for a reconsideration of […]

The holiday-shortened week saw the FinTech IPO Index slip 2.1%. Year to date, the index has eked out a meager 2.3% gain. Apple’s continued push into payments — and specifically, paying over time — grabbed its share of headlines this past week. Apple, Affirm in Spotlight Shares in Affirm slid more than 15% through the […]

The IRS plans to deny tens of thousands “improper high-risk” Employee Retention Credit (ERC) claims amounting to billions of dollars. This decision follows a review of a group of more than 1 million ERC claims that confirmed widespread concerns about improper claims, the IRS said in a Thursday (June 20) press release. “We will now use […]