Choose your location
PYMNTS
Finance Platform OneStream Aims to Raise $465.5 Million in IPO
OneStream is attempting to raise $465.5 million in an initial public offering (IPO). The cloud-based enterprise finance platform revealed its plans in a filing with the Securities and Exchange Commission Monday (July 15). OneStream and its shareholders — including investment group KKR — are offering 24.5 million shares for $17 to $19 each.
AI Gets Positive Prognosis for Health Insurance Industry
Artificial intelligence (AI) is set to change the health insurance industry, potentially slashing costs and boosting revenues for payers grappling with economic pressures. As insurers face rising medical service utilization and provider costs and tightening Medicare Advantage reimbursements, AI and automation technologies offer a possible solution to improve efficiency and profitability.
Goldman’s Card Balances Up 11% as Management Is ‘Pleased’ With Credit Performance
Goldman Sachs’ GreenSky sale is in the rearview mirror and its pivot from Main Street banking is ongoing. Its latest earnings results, released Monday (July 15), show that “substantially all” of the Marcus loans were sold a year ago. As PYMNTS reported earlier this year, independent digital...
Transend and Midland States Bank Partner on Working Capital Solution
Transend and Midland States Bank have partnered to help suppliers offer their commercial customers instant access to working capital at the point of commerce. The companies will offer these dynamic payment solutions by leveraging Transend’s B2B private-label working capital solution, they said in a Monday (July 15) press release.
Report: Stripe Valued at $70 Billion Amid Possible Sequoia Deal
The valuation of payments processing platform Stripe reportedly reached $70 billion. Sequoia Capital is offering to buy shares from investors that want to cash out, Bloomberg reported Monday (July 15), citing unnamed sources. The venture capital firm is offering $27.51 for Stripe shares and will purchase up to $861 million in shares.
Adaptive Raises $19 Million to Scale Construction Industry Financial Platform
Adaptive raised $19 million in a Series A funding round to scale its artificial intelligence-powered financial platform for businesses in the construction industry. The platform was launched in February 2023 and now has more than 280 construction companies managing over $1.4 billion of project volume on the platform, Adaptive said in a Monday (July 15) press release.
AI Explained: Data Scarcity and How It Impacts Innovation
As artificial intelligence (AI) powers a growing array of technologies, from chatbots to self-driving cars, a bottleneck has emerged: a shortage of high-quality data to train these sophisticated systems. Data scarcity, as it’s known in the industry, threatens to slow the rapid pace of AI advancement. The issue is...
Ryder Expands Mobile Maintenance Fleet Services With Pit Stop Acquisition
Ryder System plans to expand its retail mobile maintenance offering with an acquisition of Pit Stop Fleet Service. The company entered into an agreement to acquire Pit Stop and expects to complete the transaction by Aug. 1, subject to customary closing conditions, Ryder said in a Monday (July 15) press release.
Paycheck-to-Paycheck Vacationers Seize on Travel Discounts
As budget-strapped consumers look for ways to afford travel this summer, many are seeking discounts for everything from airfare to attractions. Paycheck-to-paycheck consumers want to get out of dodge. PYMNTS Intelligence’s “Summer Travel Special Report,” which drew from a survey of more than 2,200 United States consumers, examined consumers’ travel plans for the season. The results revealed that 65% of those who live paycheck to paycheck with no issues paying their bills and 44% of paycheck-to-paycheck individuals who do have issues making ends meet plan to travel at least once this summer.
AutoNation: CDK Hack Will Hurt Earnings
The impact of the hack on car dealership software firm CDK Global continues to reverberate. AutoNation, one of the largest dealership chains in the country, warned on Monday (July 15) that the cyberattack will impact its second quarter earnings by $1.50 per share. The company said in a Securities and Exchange Commission (SEC) filing that while some systems have been restored, it is still dealing with the fallout of the hack.
Truckin Digital Adds QuickBooks Integration to Trucking Company Platform
Truckin Digital added an integration with Intuit QuickBooks Online to its enterprise resource planning (ERP) Software-as-a-Service (SaaS) cloud solution for trucking companies. By combining with Intuit’s online accounting software, Truckin Digital offers a connection between dispatch operations and financial management that eliminates the need for duplicate data entry and reduces...
Visa and Wirex Partner on Digital Currency Use in Europe, UK
Visa has teamed with WireX to promote the use of digital currencies in Europe and the UK. “This collaboration will explore new opportunities to leverage and integrate innovative Visa cards and reduce friction in payment experiences,” the companies said in a news release Monday (July 15). “By combining the...
PayPal Fined $27 Million for Contract Violations in Poland
A Polish regulator fined PayPal $27.3 million over allegedly “unprecedented” user agreement violations. The Office of Competition and Consumer Protection (UOKiK) said in a Monday (July 15) press release that it determined PayPal’s contract language did not inform consumers which activities could cause them to incur penalties.
Smartphone Sales Climb Thanks to Markdowns and AI
IPhone sales stabilized in the second quarter amid growth in the broader smartphone market. New data released Monday (July 15) by IDC shows a 6.5% increase in global smartphone shipments, while Counterpoint Research — published Monday as well — found a 6% increase in phone sales to consumers.
AI Unlocks Feedback Loop Between Payments Innovation and Customer Expectations
All the innovation in the world changes nothing if it fails to meet the needs of end-users. And against a backdrop where expectations around payments convenience, speed, security and, increasingly, personalization have never been more heightened, innovation within the payments space is vital to both integrate and unlock these benefits.
CE 100 Index Gains 1.3% as Big Banks Post Earnings
Earnings season is in full swing, as big banks – specifically, JPMorgan and Citigroup – helped sway the fortunes of the CE 100 Index. The Index was up 1.3% for the week, as the bank earnings detailed relative strength in consumer spending, though company management at Citi and at JPMorgan took note of pressures facing lower income and lower-credit-scoring consumers.
How the World Does Digital: UK Consumers Thrive in Connected Economy
Driven by widespread access to high-speed broadband and advanced mobile networks, the U.K. boasts a population deeply engaged with the digital world. From video streaming taking the top spot to online banking, mobile gaming, messaging and social media following closely behind, the U.K. thrives in a connected landscape. As a...
Skipify’s Shrauger on Moving Past Wallets to Digital Identity as Payment Credentials
Consumers want what they want, how they want it. Consequently, when it comes to payments and commerce, businesses that can adapt to their needs and offer convenient ways to pay are best positioned to win in the long run. Case in point: digital wallets. The concept has been central to...
New Look at Geolocation Helps Physical Stores Compete in a Digital World
Customer expectations are perpetually evolving — meaning the experiences they are offered should, too. Innovation is the key to staying ahead, especially within the digitally transformed retail landscape. Against that backdrop, geolocation technology, once a novelty, has now become a powerful tool for enhancing customer experiences in retail. This...
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.