Новости за 06.09.2024

Few people want to cut checks, lick stamps or sign invoices. Every single business day, however, these same outdated activities are done countless times by many of the world’s finance and accounting professionals. Despite the rise of digital transformation in finance and business operations, companies ranging from small- to medium-sized businesses (SMBs) with limited resources […]

Saudi financial services startup barq will leverage Mastercard Gateway technology to expand the range of payment acceptance solutions it offers to merchants and consumers. The startup’s partnership with Mastercard will enable it to deliver additional offerings to Saudi businesses, citizens and residents who are increasingly looking for cross-border services and remittance solutions, the companies said in a Friday […]

Researchers have developed a new artificial intelligence (AI) system to detect accounting fraud within individual companies and across supply chains and industries. The machine learning technique FraudGCN analyzes patterns in financial data and corporate relationships to identify and predict fraudulent activities. It uses graph theory and machine learning to examine the web of relationships between […]

The ties that bind banks and FinTechs will be more closely watched by the Federal Deposit Insurance Corporation (FDIC), and a formal proposal/rule from the regulatory agency, governing accounts in banking-as-a-service relationships, may come sooner rather than later. As reported this week by news outlets including Bloomberg, the focus will be on “for benefit of […]

The payments industry in the United Kingdom is reportedly advocating for changes to fraud-reimbursement rules that are set to be enacted Oct. 7. Despite changes announced by the Payment Systems Regulator (PSR) Wednesday (Sept. 4), the industry is pushing for further amendments to these rules, Bloomberg reported Friday (Sept. 6). The Payments Association wrote to […]

The future of connectivity is the future of commerce, as well as payments and financial services. And with the Thursday (Sept. 5) news that Verizon has entered into a definitive agreement to acquire Frontier,the largest pure-play fiber internet provider in the U.S., in an all-cash transaction valued at $20 billion, the future of connectivity — […]

A proposed class action lawsuit brought against Coinbase by shareholders is reportedly moving forward. The cryptocurrency exchange’s bid to have the suit dismissed was rejected Thursday (Sept. 5) by U.S. District Judge Brian Martinotti, Reuters reported Friday (Sept. 6). The shareholders allege that Coinbase downplayed the likelihood that it would be sued by the Securities and Exchange Commission […]

As the NFL season gets underway, sports betting has reportedly become big business in the United States. Since a Supreme Court ruling overturned a law that prevented state-sanctioned sportsbooks in 2018, over $220 billion has been wagered in the U.S. sports gambling industry, Bloomberg reported Friday (Sept. 6). The beneficiaries of this trend include mobile […]

As the digital marketplace grows, Etsy has been enhancing its search and discovery tools to spotlight high-quality listings. With 100 million items available, Etsy focuses on featuring its best offerings from its sellers to buyers. In an interview with PYMNTS, Nick Daniel, Etsy’s chief product officer, explains the company’s recent efforts are designed to incorporate […]

Walmart has launched a traveling tour that will promote the fashion products and services the retailer offers in stores and online. The Walmart Style Tour, which will be held at 40 events across the United States in September and October, offers styling tips, color analysis and giveaways, the retailer said in a Friday (Sept. 6) […]

Real-time payments continue their rapid global expansion, with banks and governments updating existing systems and introducing new ones for their citizens and customers. Australia is expanding its real-time payments landscape through a new cross-border payments collaboration between BNY and Commonwealth Bank of Australia (CBA). This collaboration allows Australian businesses and individuals receiving payments from BNY […]

As Amazon looks to shrink Walmart’s lead in food, the eCommerce giant is expanding its presence in third-party grocery delivery. Consumers in the Seattle area can now order same-day grocery delivery from local merchant Metropolitan Market on Amazon’s marketplace, Chain Store Age reported. Additionally, the online marketplace is also expanding its existing grocery delivery partnership […]

The just-completed shortened trading week heralds the beginning of Fall, and September’s here. September stands out as the month that will herald the first rate cut by the Federal Reserve after years of hiking interest rates.  At least, that’s what the conventional wisdom says. For the FinTech IPO Index, specifically for the platforms within that […]

In today’s competitive job market, traditional benefits like retirement plans and paid time off are falling short as workers demand immediate access to their earnings. Rising financial pressures and living costs are driving this shift, pushing employers to adapt or risk losing top talent. A PYMNTS Intelligence report, “No-Wait Wages: Leveraging Instant Payments to Boost […]

The rise of digital wallets is an opportunity waiting to be tapped. TerraPay President Reuben Salazar Genovez writes in a new PYMNTS eBook, “Beyond the Horizon: How to Identify Unexpected Threats That Could Impact Your Business.”   The biggest albeit unsurprising “wild card” for the future of TerraPay and the global money movement landscape has […]

Nvidia, Microsoft and patent risk management company RPX are facing a lawsuit accusing them of “rampant” patent infringement and antitrust law violations. The suit was filed Thursday (Sept. 5) in a Waco, Texas, federal court by Xockets, Reuters reported Thursday. In the lawsuit, Xockets alleged that the companies stole its data processor technology to help develop artificial intelligence […]

Rent the Runway (RTR) is experiencing a pivotal moment as it redefines its growth trajectory through a blend of strategic innovations and operational improvements. Following its second-quarter earnings call Thursday (Sept. 5), the company, known for introducing Closet in the Cloud, is setting its sights on further expansion. “What you’re seeing in our results is […]

Sedric AI has raised $18.5 million in a Series A funding round to continue developing and promoting its artificial intelligence (AI)-powered compliance platform for financial institutions. The company will use the new funding to grow its AI lab in Tel Aviv and to expand its global go-to-market teams, according to a Thursday (Sept. 5) press release. […]

Drip Capital has secured $113 million in new funding to develop new products and to accelerate the growth of its digital platform for trade finance. The company has quadrupled its revenue and doubled its customer base over the past two years, despite rising interest rates that challenged the global trade sector during that time, Drip […]

Thoma Bravo Founder and Managing Partner Orlando Bravo said Thursday (Sept. 5) that while blockchain technology has promise, he and his firm are steering clear of companies and products in that space. Bravo said this about three years after his private equity investment firm helped lead a $900 million investment in cryptocurrency exchange FTX, which later went bankrupt […]

The Department of Transportation (DOT) has launched an inquiry into the rewards programs of the four largest U.S. airlines, saying it aims to protect customers from practices that are potentially unfair, deceptive or anticompetitive. Transportation Secretary Pete Buttigieg sent letters to American Airlines, Delta Air Lines, Southwest Airlines and United Airlines ordering them to provide information about their rewards programs, practices and policies, […]

The future of B2B payments lies in automation, not administration. Given the B2B sector’s legacy of complex workflows, intricate data requirements and entrenched manual processes, the opportunities for innovation are immense. While modernizing something as entrenched into business workflows as a decades-old accounts payable or accounts receivable program may take some coaxing, companies that wait […]

Creator commerce platform LTK says it’s giving creators more control over their earnings. The company on Thursday (Sept. 5) announced what it called “major” updates to its creator app, including one that gives creators access to all available commission rates on the platform. “Creators have transformed the retail industry — becoming a preferred way for […]