Choose your location
PYMNTS
Synchrony Sees Digital Mix Key to Navigating Uncertain Environment
In today’s uncertain environment, consumers want one thing: choice. That’s because macroeconomic uncertainty over inflation and interest rates is rocking consumer behavior and affecting big-ticket spend across verticals like home, auto and more, leading consumers to scale back on nonessential retail purchases. But as Synchrony Financials’ Q2 2024...
Matera Gets $100 Million to Expand Banking Software Footprint
Banking software provider Matera has landed a $100 million investment from growth investor Warburg Pincus. The new funding, announced in a news release Wednesday (July 17), will help finance Matera’s continued expansion into North America and fuel product development. Matera has its roots in Brazil, a country that —...
Discover to Sell $10.1 Billion Private Student Loan Portfolio
Discover Financial Services plans to sell its $10.1 billion private student loan portfolio. The company’s Discover Bank entered into an agreement to sell the portfolio to one or more strategic partnerships made up of funds and accounts managed by global investment firms Carlyle and KKR, Discover said in a Wednesday (July 17) press release.
Floundering Crypto Miners Look For AI Company Lifelines
Cryptocurrency miners are reportedly scrambling to boost their revenues by forging deals with AI developers. As the Financial Times (FT) reported Wednesday (July 17), these miners operate vast, powerful computing sites and have struggled to turn a profit due to high energy costs and reduced rewards for mining. Now, the...
HSBC Promotes CFO Georges Elhedery to Chief Exec
British multinational banking group HSBC has a new chief executive officer. Georges Elhedery, who became HSBC’s chief financial officer (CFO) last year, will move into the chief executive role (CEO) September 2, the bank announced Wednesday (July 17). He replaces Noah Quinn, who announced his resignation in April after...
Klarna Reportedly Prepping for Possible 2025 US IPO
Klarna is reportedly weighing financial advisors for its U.S. initial public offering (IPO). Goldman Sachs, J.P. Morgan Chase and Morgan Stanley were the top contenders to advise the Swedish payments FinTech, the Financial Times (FT) reported Tuesday (July 16), citing sources familiar with the matter. The company, a pioneer in...
Insurance Industry $500 Billion Digital Shift Driven by Gen Z Expectations
As the second half of 2024 unfolds, the insurance sector finds itself in the midst of a profound shift. How profound? According to at least one industry insider, the digital transformation of the insurance business is happening on the scale that swept through retail in the late 1990s and the video industry with the advent of Netflix.
Exclusive: Banks Explore Shared Data to Enhance Scam Detection Capabilities
As online scams and financial crimes continue to surge at the halfway point of 2024, banks and payment companies are ramping up efforts to protect consumers and their own bottom lines. At the forefront are new technology solutions and a call for greater collaboration and data sharing to stay ahead...
Embedded Finance’s Next Stop Is B2B Commerce
Wind the clock back just a few years, and online transactions were a disjointed experience. After filling a cart at a merchant’s site, upon checking out a user would be directed to another website to enter the same payment details. Cart abandonment inevitably followed. Enter embedded payments. As Jim...
Will Supreme Court Rulings Keep Federal Regulators in Court?
When the U.S. Supreme Court overturned its own 40-year-old ruling in the LoperBright Enterprises v. Raimondo case on June 28 — in what has come to being popularly tagged SCOTUS v. Chevron — the reaction was split. On one hand, some politicians and legal experts were outraged that...
Amex Urges Merchants to Embrace Digital Loyalty’s Hyper-Personalization Mandate
If a business doesn’t meet its customers’ needs, its competitors will be happy to. That’s increasingly the reality for businesses today. In an era where consumer expectations around convenience and personalization are at an all-time high, digital loyalty programs have emerged as a component for businesses looking to stay competitive while capturing greater customer lifetime value.
How the World Does Digital: Government-Led Program Gives Netherlands a Digital Boost
Famed for its vibrant tulips and ubiquitous bicycles, the Netherlands is proving innovation isn’t limited to pedal power. This nation, boasting the world’s largest flower export industry and more bicycles than people, is now pedaling toward digital transformation. As the fifth-largest EU economy by GDP, with a population...
Study: Digital Wallets to Overtake Debit Cards for In-Store Payments by 2027
Download the Money Mobility Tracker® Top of Wallet: Digital Wallets’ Ascent for Payments — and More. By completing this form, I have read and acknowledged the Terms and Conditions and agree that PYMNTS.com may contact me at the email address above. Digital wallets have revolutionized the payment...
OpenAI’s Push for Human-Level AI Is Underway
Reports of OpenAI’s leap toward human-level artificial intelligence (AI) have set the business world abuzz with visions of AI-powered commerce that could rewrite global trade rules — if the tech lives up to the hype. Artificial general intelligence (AGI) represents a hypothetical leap beyond current AI, aiming to...
Eventbrite Enables In-App Ticket Purchases on TikTok
Global events marketplace Eventbrite has partnered with TikTok to help event creators promote their events and sell tickets. This collaboration includes an integration in which Eventbrite creators and TikTok users can add Eventbrite links directly to their TikTok videos, the companies said in a Tuesday (July 16) press release. These...
Five Below CEO Steps Down as Comparable Sales Slip
Five Below has announced a leadership transition, with Joel Anderson stepping down from his roles of president and CEO, and from the board of directors, to pursue other interests. The retailer has appointed its chief operating officer, Kenneth Bull, as interim president and CEO, and Tom Vellios, co-founder and chairman,...
San Francisco Compute Co. to Build Computing Power Trading Platform
San Francisco Compute Co. has reportedly raised $12 million in an early funding round to launch a trading platform for computing power. With the platform, the company aims to help companies working with artificial intelligence (AI) meet the challenge of getting access to the semiconductors they need, Bloomberg reported Tuesday (July 16).
Sezzle Adds Spanish Language Capability to BNPL App, Checkout
Sezzle has added Spanish language capability to its buy now, pay later (BNPL) app and checkout. This capability is meant to appeal to the 40 million Americans who speak Spanish, the company said in a Tuesday (July 16) press release. “At Sezzle, we’re committed to making financial freedom accessible to...
Fleetio Adds On-Site Fuel Management to Fleet Maintenance Software
Fleetio has added two new integrations to its fleet maintenance management software. These integrations with FuelCloud and Fill-Rite will help businesses with on-site bulk tank fueling streamline fuel management, gain insights and optimize fleet fueling operations, the company said in a Tuesday (July 16) press release. “Adding these capabilities to...
Verizon Launches Customer-Centric Initiatives, Redefines Brand Identity
Verizon has unveiled a suite of initiatives designed to enhance customer choice and flexibility, marking an evolution in its brand strategy. The telecommunications giant has introduced programs aimed at enriching customer experiences across its portfolio. Central to Verizon’s strategy is the introduction of subscription-based and non-subscription programs tailored to consumer...
PYMNTS
44K+
Posts
91M+
Views
Online coverage of payments news and top industry trends. Insight and reporting on payments, commerce, FinTech and innovation.
Welcome to NewsBreak, an open platform where diverse perspectives converge. Most of our content comes from established publications and journalists, as well as from our extensive network of tens of thousands of creators who contribute to our platform. We empower individuals to share insightful viewpoints through short posts and comments. It’s essential to note our commitment to transparency: our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. We strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation. Join us in shaping the news narrative together.