Новости за 03.10.2024

PayPal has reportedly completed its first business payment with its in-house stablecoin. This was done to show how digital currencies could be used to improve upon what are often muddled commercial transactions, Bloomberg News reported Thursday (Oct. 3), citing interviews with company officials. The payment — PayPal did not disclose the amount — was to accounting giant Ernst […]

U.K. FinTech Revolut has reportedly criticized Meta’s approach to combating financial fraud. As CNBC reported Thursday (Oct. 3), Revolut argues that the Facebook owner should be the one to provide compensation when scammers prey upon its users. This comes one day after Meta announced it was working with British banks MetroBank and NatWest on a data-sharing project designed to protect customers […]

The world’s biggest companies can’t seem to stop giving OpenAI money. One day after securing $6.6 billion in new funding from an array of tech giants and venture capitalists, the artificial intelligence (AI) startup revealed it had established a $4 billion credit facility with nine of the world’s largest banks. The revolving credit facility — […]

Artificial intelligence (AI) agents are emerging as a potentially transformative force in global commerce, with major tech players betting billions on their ability to revolutionize business processes. Accenture and Nvidia announced an expanded partnership Tuesday to accelerate enterprise AI adoption, including agents. The move comes as Accenture reported $3 billion in generative AI-related bookings in […]

Visa has introduced a way for customers to tap the multitrillion-dollar commercial payments market. The Visa Commercial Solutions (VCS) Hub, announced Thursday (Oct. 3), is designed to help financial institutions and businesses efficiently access a range of commercial payment solutions, “complementary capabilities and integrations into a range of FinTech services,” Visa said in a news […]

Cryptocurrency exchange Coinbase is expanding the ways businesses can pay. PayPal paid invoices to EY using the PayPal USD (PYUSD) stablecoin deposited into EY’s Coinbase Prime account, according to a Thursday (Oct. 3) news release. Coinbase Prime is a brokerage platform that facilitates trades, custody and prime services, according to the platform’s website. “An increasing […]

Uber has launched a partnership with delivery robot/autonomous vehicle maker Avirde. The collaboration will launch in the coming weeks in Austin, letting Uber Eats customers get their food delivered by Avride’s sidewalk robots, per a Thursday (Oct. 3) press release. It will then expand to Dallas and Jersey City later this year. The ride-hailing side of the […]

Amazon plans to hire 250,000 workers for the upcoming holiday season, according to a Thursday (Oct. 3) press release. The figure is in keeping with last year’s hiring levels and comes as retailers are preparing for a shopping season that could be marked by consumer hesitancy. Many of the new hires will likely be familiar […]

In a whirlwind of investment activity, artificial intelligence companies secured unprecedented funding. OpenAI led the pack at a $6.6 billion raise. Poolside secured $500 million in a Series B for AI-powered software development. HPC-AI Tech raised $50 million for video generation and infrastructure. The AI gold rush is in full swing as investors bet big […]

Open banking/instant payments company Zūm Rails is teaming with Fiserv. The collaboration, announced Thursday (Oct. 3), will see Zūm utilize Fiserv’s embedded finance capabilities to enable payments and financial services for U.S. businesses. “Today, payments and banking services are expanding beyond traditional banks and financial institutions, and companies across industries are eager to embed financial and payment options directly into […]

In small business lending — regardless of the size of the bank doing the lending itself — a high-touch approach and in-person visits to the branches are “key conduits” for extending credit, the Federal Deposit Insurance Corporation (FDIC) has found. In its 2024 Small-Business Lending Survey, which relies on responses from about 1,300 banks taken […]

For years, the use of cards within B2B payments has been relatively nascent. However, with news Tuesday (Oct. 1) that American Express teamed with Boost Payment Solutions to provide commercial virtual card processing services, buyers and suppliers in the B2B space are increasingly waking up to a new reality. Virtual cards are no longer just […]

Composable eCommerce platform BigCommerce has a new chief executive. Travis Hess, who joined the company as president in May, has been appointed CEO, the company announced Wednesday (Oct. 2). He succeeds Brent Bellm, who had served as chief executive since 2015. “It’s been an amazing journey at the helm of BigCommerce, and I’m incredibly proud of everything that we have […]

Blockchain firm Ripple said it’s prepared to continue its legal battle against the Securities and Exchange Commission. Ripple CEO Brad Garlinghouse made the pronouncement on social platform X Wednesday evening (Oct. 2), hours after the SEC said it was appealing a ruling in its case against the company. The regulator’s notice of appeal came after […]

Artificial intelligence is getting better at decoding human emotions, and businesses are using the software to improve customer interactions and drive sales. A new study in CAAI Artificial Intelligence Research examines how AI is transforming emotional recognition, with potential impacts on healthcare and customer service. The research, led by Feng Liu from East China Normal […]

HSBC has launched an embedded finance venture aimed at its business clients. SemFi is a joint venture between HSBC and B2B global trade network Tradeshift, designed to embed HSBC payment, trade and financing solutions across a variety of eCommerce and marketplace venues, including Tradeshift’s network, according to a Thursday (Oct. 3) press release. “Businesses are increasingly looking […]

Swift wants to let banks test tokenized transactions on its global messaging network. Beginning next year, financial institutions (FIs) will be able to carry out pilot transactions for settling digital assets and currencies, Swift announced Thursday (Oct. 3), in hopes of demonstrating how FIs can transact interchangeably across asset and currency types using their Swift […]

Real-time payments are growing in popularity the world over, with governments, banks and corporates all doing their part to make these transactions the new norm. While the United States has lagged behind much of the world in widespread real-time payments adoption, American banks are picking up the slack. For example, First Citizens Bank now lets […]

Embedded lending options are proving to be critical lifelines for individuals and the smallest businesses — particularly in an uncertain macro environment marked by relatively high interest rates. “Many times in life, when you expect it least, you need speed, and you need availability when it comes to credit — or access to cash flows […]

For decades, the “classic” four-party model dominated card payments — where the quartet was comprised of the cardholder, the merchant, the acquirer and an issuing bank. Acquirers process the payment for merchants while issuing banks issue the card to the holder. Thredd CEO Jim McCarthy told Karen Webster in an interview that the lines are […]

As the digital payments landscape in Latin America rapidly evolves with nearly 600 million people generating close to $6 trillion in GDP, consumers are shifting away from cash and embracing real-time digital alternatives. A  PYMNTS Intelligence report, “Promising Payments: Digital Payments Gain Ground in Latin America,” in collaboration with Galileo, examines how the region is […]

In the high-stakes world of healthcare retail, CVS Health finds itself at a crossroads, navigating turbulent waters amid investor pressures and a stock price that seems to be on a downward spiral. As the pharmacy giant embarks on a strategic review, including possibly splitting its insurance and retail arms, CEO Karen S. Lynch faces the […]

Recent announcements and partnerships have shown core banking’s appeal — not just for traditional FIs, but FinTechs too — as anti-money laundering (AML) efforts must scale and move into real-time functionality, ideally automated, to monitor real-time transactions. Struggling with the Legacy Systems Generally speaking, core banking providers help FIs upgrade their back-end processes and move […]

Microsoft announced Wednesday (Oct. 2) plans for a €4.3 billion ($4.8 billion) investment in Italy, its biggest investment in the country so far. The initiative is set to roll out over the next two years, allowing the Big Tech company to expand its cloud and artificial intelligence (AI) data center infrastructure while providing digital skills […]

Amazon is planning to run more advertisements on its top television shows and movies on Prime Video, its streaming service. According to a Wednesday (Oct. 2) interview in the Financial Times (FT) with Vice President of Prime Video Kelly Day, Prime is lining up new ad slots for 2025. Day told the FT that Prime […]