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Report: SEC Probes Whether OpenAI Duped Investors

pymnts.com U.S. regulators are reportedly investigating whether artificial intelligence giant OpenAI’s investors were misled. As part of that investigation, the Securities and Exchange…

Credit Unions Explore Digital Pathways to Transform SMB Lending

pymnts.com While traditional financial institutions (FIs) have historically dominated the industry, credit unions (CUs) have carved out a unique niche, serving the needs of their…

Digital Overhaul in Insurance Benefits Firms Already Confident Using AI

pymnts.com In the artificial intelligence (AI) race, some companies, and sectors, are starting on third base. That’s because companies operating in technologically sophisticated…

Squarespace Hits $1 Billion in Revenue as It Takes on Payments Facilitator Mantle

pymnts.com Squarespace announced its financial results for the fourth quarter of 2023 on Wednesday (Feb. 28), revealing a milestone: The company that helps individuals and businesses…

Policymakers Chase Central Framework for Decentralized Finance Oversight

pymnts.com You don’t know what you don’t know. And what you don’t know you can’t leverage or interact with, much less hope to regulate. That is the realization that governmental bodies…

InDrive Launches Lending Solution for Drivers on Its Rideshare Platform

pymnts.com InDrive, a global mobility and urban services platform, introduced a new financial services product called inDrive Money. The offering provides cash loans to drivers…

White House Tells DOJ to Beef up Data Protections

pymnts.com The White House wants the Department of Justice to do more to protect America’s sensitive data. In an executive order issued Wednesday (Feb. 28), President Joe Biden…

Thrasio’s Bankruptcy Spotlights Aggregators’ Decline as Ecosystems Take Shape

pymnts.com It was a highly successful business model, at least for a while. But the recent filing of Thrasio Holdings for Chapter 11 this week points to how Amazon aggregators have…

Lemonade Says AI Improved Insurance Loss Ratio

pymnts.com Digital insurance platform Lemonade said artificial intelligence helped it improve its loss ratio. The figure, the ratio of losses to premiums earned, improved by 12 points…

Wendy’s Insists It Has No Plans to Test Surge Pricing

pymnts.com Wendy’s wants diners to know it’s not raising prices, despite what they may have heard. When reports emerged recently that the fast-food chain was going to test dynamic…

Report: Apple Makes Last-Minute Attempt to Halt Antitrust Suit

pymnts.com Apple reportedly made an eleventh-hour attempt last week to stave off a federal antitrust suit. The company and its attorneys met with the U.S. Justice Department to try to…

Klarna Posts Narrower Yearly Loss Ahead of Potential IPO

pymnts.com Klarna’s annual report shows the Swedish FinTech’s revenues rising and losses narrowing during 2023. The report, released Wednesday (Feb. 28), comes as the buy now, pay…

Marqeta and AffiniPay Team on Law Firm Spend Management

pymnts.com Card issuing platform Marqeta has launched a partnership with payments firm Affinipay. The collaboration, announced Wednesday (Feb. 28), will see Marqeta power the pending…

US Money Laundering Fight May Soon Turn Corner

pymnts.com Is the tide turning in America’s war on money laundering? Writing in the Financial Times Tuesday (Feb. 27), Casey Michel of the Human Rights Foundation argues that the U.S.…

Remember the Titan: Apple Sunsets Electric Vehicle Moonshot

pymnts.com It’s lights out for Apple’s dream of entering the electric vehicle (EV) marketplace. A Tuesday (Feb. 27) report reveals that the Cupertino, California, personal computer and…

Capital One Says Repair of Discover’s Regulatory Challenges a ‘Big Undertaking’

pymnts.com Capital One expects the process of fixing Discover Financial’s regulatory challenges to be long and expensive. “These can be very big undertakings,” Capital One CEO Richard…

Excitement and Money Flows to Intersection of AI and Robotics

pymnts.com New advances in artificial intelligence (AI) are allowing companies to develop robots with better features and more effective human interaction capabilities. Figure AI has…

Report: Klarna Aims for Q3 IPO, $20 Billion Valuation

pymnts.com Klarna, the Swedish FinTech company once crowned as Europe’s most valuable startup, is reportedly in discussions with banks for a potential U.S. initial public offering…

8 in 10 Merchants Screen Potential Fraud With Same-Payment-Method Retries

pymnts.com In an effort to counter false declines and prevent unnecessary losses, PYMNTS Intelligence research finds, the vast majority of merchants are encouraging consumers to…

Klarpay Debuts Accounts Designed for Entrepreneur Customers

pymnts.com Swiss financial institution Klarpay has debuted a financial solution for entrepreneurs. The company’s Entrepreneur Accounts are designed for business founders, ultimate…

DoorDash Teams With Pet Supplies Plus as Aggregators Woo Pooch Parents

pymnts.com With pet parents proving to be a digitally engaged group, often willing to splurge, DoorDash is seizing on the on-demand delivery opportunity to expand consumers’ adoption…

As Data Breaches Proliferate, New NIST Playbook Offers Recovery Tactics

pymnts.com Data breaches can have far-reaching impacts on operations, finances and reputations. And the impact and frequency of data breaches are only increasing as bad actors seek out…

Nav, Gusto Team on Small Businesses Financing

pymnts.com Nav and Gusto are partnering to help small businesses overcome cash flow obstacles. The partnership aims to help small to medium-sized businesses (SMBs) find available…

Mesh Payments Launches Integration of Spend Management With NetSuite OneWorld

pymnts.com Mesh Payments has announced the integration of its global card and spend management solution with NetSuite OneWorld, an enterprise resource planning (ERP) solution for…

Lowe’s Projects Falling Sales as Consumers Put off Remodeling

pymnts.com Consumers are forgoing big-ticket home projects, a fact that is cutting into Lowe’s revenue. The home improvement retailer released earnings Tuesday (Feb. 27) that showed…

How Solving for Digital ID Acceptance Could Transform Digital Payments

pymnts.com In today’s increasingly digital world, it has gotten to the point where the physical wallet’s main purpose is becoming just to carry physical ID cards. But, as the rest of…

EU: Microsoft-Mistral Deal Needs Further Investigation

pymnts.com European regulators are taking a closer look at Microsoft’s new partnership with Mistral. The tech giant announced Monday (Feb. 26) that it planned to make the commercial…

GOP Pushes to Ban CBDCs Over Privacy Concerns

pymnts.com Five Senate Republicans have introduced legislation that would block the digital dollar. The “CBDC Anti-Surveillance State Act,” announced Monday (Feb. 26), would prevent…

Report: Shein Mulling UK IPO, Deeming US Approval Unlikely

pymnts.com Shein is reportedly rethinking its U.S. initial public offering (IPO) due to regulatory resistance. Instead, the fast-fashion brand is weighing going public on the London…

Digital Commerce Demands Multifactor Approach to ID Verification

pymnts.com Lisa McFarland, executive vice president and chief product officer at Ingo Payments, told PYMNTS that authentication across digital channels requires a multi-pronged…

Perfect Corp.: AR Try-On Reduces Returns for eCommerce Beauty Brands

pymnts.com As eCommerce merchants look for new ways to reduce the costs and inefficiencies of returns, Perfect Corp. sees augmented reality (AR) as a key solution, mitigating…

How OpenAI’s Sora Video Tool Could Change Hollywood

pymnts.com OpenAI’s new tool, Sora, which turns text into high-quality videos, could shake up how movies and shows are made in Hollywood. Sora employs a neural network trained on video…

Cash Back Deals Could Drive Consumer Adoption of Bank Payments

pymnts.com Amid consumer hesitation to adopt account-to-account (A2A) payments, cash-back incentives could go a long way toward driving use. By the Numbers The PYMNTS Intelligence…

Wish Unveils Trade-In Program as Consumers Embrace Resale

pymnts.com Mobile eCommerce platform Wish has launched a new trade-in program for old technology. Beginning next month, customers in certain parts of Europe can trade in devices such…

Highmark Teams With Google on AI-Powered Health Partnership

pymnts.com Highmark Health is working with Epic and Google Cloud to support payer-provider coordination. “Epic’s Payer Platform improves collaboration between health insurers and…

Cross River Adds Investment Banking Services for FinTechs

pymnts.com Cross River Bank and CRB Securities are moving into the investment banking space. The company’s investment banking team will help FinTechs with decisions such as mergers and…

Allure Bridals Offers New Stock Financing Program to Merchants

pymnts.com Bridal and formalwear brand Allure Bridals has debuted a finance program for retailers. The program is “a first-of-its-kind program within the bridal industry,” the…

Visa and GSMA Team to Boost Financial Inclusion

pymnts.com Visa has teamed with the GSMA Mobile for Development Foundation to improve financial inclusion. The newly announced Digital Finance for All (DFA) Initiative is aimed at…

Australian Trial Tests Wireless Charging of Electric Trucks

pymnts.com A new trial in Australia is set to test roads that wirelessly charge electric trucks as they drive, potentially revolutionizing the trucking industry. The $8.2 million…

BoE Official Calls For Closer Look at Non-Bank Lenders

pymnts.com A Bank of England official is calling for more research into non-bank lenders. This effort would help prevent a “credit crunch” that could result from a pull-back by hedge…

Deutsche Telekom Previews ‘App-Free’ AI-Powered Smartphone

pymnts.com “There’s an app for that.” Fifteen years ago, that was Apple’s tagline for its iPhone, letting customers know that whatever they wanted a smartphone to do, they had an…

UK Government Takes Pro-Innovation AI Approach in Contrast to EU

pymnts.com There’s a global race going on with artificial intelligence at its center. It isn’t just a race between multibillion-dollar, or trillion-dollar, private enterprises looking…

Report: Paytm Turning to Banks to Process UPI Transactions

pymnts.com Embattled Indian FinTech Paytm is reportedly turning to a group of banks for help. The company is likely to work with Aix Bank, HDFC, Yes Bank and the State Bank of India to…

Samsung Explores Contactless Payments With Galaxy Ring

pymnts.com Samsung’s latest wearable device reportedly comes with health-tracking features. The smartphone maker’s Galaxy Ring — the company’s first ring product — is set to go on…

EU Makes Instant Payments the Law of the Land

pymnts.com Making instant payments in the European Union (EU) just became much easier. The European Council on Monday (Feb. 26) adopted a regulation making instant payments available…

Foxy.ai: Real Estate Frustration Leads to Valuation Innovation

pymnts.com In the real estate business, how a property looks has a big impact on how potential buyers make a decision. With so much at stake, real estate professionals have turned to…

Report: UK Car Loan Probe Could Hurt Banks

pymnts.com England’s financial watchdog is taking a long look at the way lenders financed car loans. And that investigation could have broader implications for the country’s banking…

Report: Customers Feel Tricked by Banks’ Savings Offerings

pymnts.com Consumers are reportedly taking legal action after allegedly being deceived by their banks’ savings offerings. As The Wall Street Journal (WSJ) reported Sunday (Feb. 25),…

Coinbase Denies Reports of Nigerian Crypto Ban

pymnts.com Cryptocurrency platform Coinbase is denying reports that it is being blocked in Nigeria. Last week saw a report by the Financial Times (FT) that the Nigerian government had…

Reddit May Go Public in March Following IPO Filing

pymnts.com Social media platform Reddit has reportedly publicly filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC). The move comes more than…

Crisp Raises $50 Million to Grow CPG Data-Sharing Efforts

pymnts.com Collaborative commerce firm Crisp, which provides retailers with real-time inventory data, has raised $50 million in a Series B extension round to drive its growth efforts.…

How End-to-End Agentic Software Will Transform AI for Business

pymnts.com Change happens slowly, and then all at once. And when it comes to business software, we are firmly in the “change happening all at once” phase. That’s according to NVIDIA…

Nivoda Exec on Becoming the ‘Amazon’ of the Global Jewelry Market

pymnts.com In a market as highly fragmented as the global jewelry industry, sourcing precious stones can be an extremely difficult undertaking for retail buyers. Jewelers typically…

Uber Looks to Tap Into India’s Scooter and Motorbike Market

pymnts.com Uber reportedly wants to move deeper into India’s two- and three-wheeled vehicle market. Speaking during an event Thursday (Feb. 22) in Bangalore, CEO Dara Khosrowshahi said…

Zūm Rails Raises $7 Million to Expand Open Banking Offering

pymnts.com Zūm Rails has raised $7.7 million to expand its open banking/instant payments solution. The Montreal-based company announced the Series A funding round Thursday (Feb. 22),…

Bottomline Updates Insider Fraud Prevention Tool

pymnts.com Business payments company Bottomline has debuted an updated fraud prevention kit. The company announced its enhanced Insider Threat Management solution Thursday (Feb. 22),…

Delivery Hero Suspends Plans to Sell Foodpanda Business

pymnts.com Delivery Hero has ended discussions to sell its foodpanda business in Southeast Asia. The Berlin-based food delivery platform announced Wednesday (Feb. 21) that it had…

Databricks Doubles Down on Data to Bring AI to Fortune 500

pymnts.com For all its technological complexity, artificial intelligence (AI) rests on one very simple foundation: data. And it’s here that Databricks has put a stake in the ground,…

US Bank Says Credit Products Win by Rewarding Small Businesses for Their Spend

pymnts.com The right borrowing tools can have a big impact on small businesses’ future growth prospects. That’s because small and medium-sized businesses (SMBs) commonly face a number…

Chase Faces Lawsuit Over Fees on Deposited Checks That Bounce

pymnts.com JPMorgan Chase is facing a lawsuit over fees for deposited checks that bounce. In a lawsuit filed Wednesday (Feb. 21) against JPMorgan Chase, five customers accused the bank…

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