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Modern Treasury Expands Instant Payments Support to Mutual Customers at 6 Big Banks
Modern Treasury has expanded instant payments support for mutual clients of six top banks. “Money is moving swiftly toward a real-time future, and seeing customers use Modern Treasury to enable instant payments with some of the largest banks in the U.S. is a testament to the accelerating adoption of these exciting new payment rails,” Modern Treasury Co-founder and CTO Sam Aarons said in a news release Wednesday (Aug. 14).
Creators Turn to Nontraditional Platforms Like Substack for Luxury Social Commerce
As influencers experiment with the best platforms to monetize their followings, some find that to reach a luxury audience, Instagram and TikTok do not quite cut it. Caley-Rae Pavillard, an influencer and vice president of business development and partnerships at social monetization company ShopMy, told PYMNTS that alternate platforms are emerging in the space.
Google Brings Value-Added Services to Its Digital Wallet
Digital wallets are transforming payments and commerce. In today’s operational landscape, where convenience reigns supreme and value-added services drive customer stickiness, the financial services industry faces new challenges and opportunities from the Big Tech builders of those very digital wallets. With the news at Tuesday’s (Aug. 13) ninth annual...
TaluCard Unveils Biometric Payment Card, App for Visually Impaired Consumers
TaluCard plans to launch a physical biometric payment card and complementary app designed to provide an accessible and secure payment solution for users with visual impairments. Developed in collaboration with IDEX Biometrics and an unnamed London-based issuer, the card is expected to be introduced in the United Kingdom in late...
Name Brands and Private Labels Battle for Grocery Shelf Space
There’s a battle brewing over shelf space in America’s grocery stores. As The Wall Street Journal (WSJ) reported Wednesday (Aug. 14), this conflict is being driven by a shrinking amount of real estate in grocery aisles as stores begin to include more of their own lower-cost products. Supermarkets...
Spotify Claims ‘Small Step’ Victory in Apple EU Pricing War
Spotify gained Apple’s approval to show European Union users pricing information in its iOS app. Spotify is opting into Apple’s “entitlement” for music streaming services, created following the European Commission’s landmark antitrust ruling against the tech giant in March, according to an updated blog post Wednesday (Aug. 14).
AI Firms’ Big Tech Deals Leave VC Investors in the Cold
This year has seen three fledgling AI firms swallowed up by Big Tech companies. As the Financial Times (FT) notes in a report Wednesday (Aug. 14), it is a pattern that threatens to leave venture capitalists (VCs) on the outside looking in at the artificial intelligence (AI) boom. AI companies...
Multimodal AI Impacts Retail From Voice Assistants to Checkout-Free Shopping
Amazon and OpenAI are betting big on multimodal artificial intelligence (AI), a technology that could redefine how consumers shop and interact with businesses. Multimodal AI, an advanced form of AI capable of processing and integrating information from various sources, such as visual, auditory and textual data, is being harnessed by tech giants to create more intuitive shopping experiences and smarter customer service.
Use Cases Beyond Claims Moves Insurance Industry to Instant Payments
Supply and demand is the eternal balancing act in economics, and in payments, too. Drew Edwards, CEO of Ingo Payments, noted to Karen Webster that there’s been a 7% increase, year over year, as determined jointly by Ingo and PYMNTS Intelligence, in instant payments used as a disbursement option in the insurance industry.
Gain Without the Pain: Nuvei Head of eComm on What’s Driving Payments Optimization
Payments represent the lifeblood of business success. And business success, like payments, is inherently complex. This inherent complexity, arising because today’s payments sit at the intersection of technology, finance, regulation, and end-user behavior, can impede businesses’ ability to maximize revenue. “The payments industry has moved faster, technology has...
France Keeps Mobile Wallets Ready for Post-Olympic Events
Download the Report Digital Wallets Beyond Financial Transactions: France. 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. Consumers in France are embracing digital wallets for payments. For example, more than one-third (38%) use...
DBS and Ant International Test Blockchain-Powered Treasury Management Solution
DBS and Ant International have launched a pilot of a blockchain-powered treasury and liquidity management solution designed to enable Ant International to reduce the settlement of intragroup transactions from days to seconds. The solution, DBS Treasury Tokens, will enable Ant International, a provider of digital payment and financial services solutions,...
Ride-Hailing Platforms’ Earnings Underscore Gig Economy’s Momentum
The side hustle — and the ancillary streams of income those hustles provide — now is a lifeline in the paycheck-to-paycheck economy, across all income levels. Earlier this year, PYMNTS reported that 22% of all U.S. consumers work on the side to enhance their cash flow. According to the data, 23% of paycheck-to-paycheck Americans who say keeping up with their monthly bills is a challenge look for active supplemental income. Meanwhile, 26% of workers earning more than $100,000 per year told PYMNTS Intelligence that they worked at least one side-job.
New Starbucks CEO Brian Niccol Brings Innovative Track Record to QSR Environment
Chipotle CEO Brian Niccol will take over as CEO of Starbucks Sept. 9, and he has the support of Starbucks founder and Chairman Emeritus Howard Schultz. “I know how excited [Schultz] is,” Starbucks board chair Mellody Hobson said during an interview with CNBC. “When I called him and told him what we were doing and what I have been working on and what the board had been pursuing, he said, ‘Mellody, that’s a home run.’”
Google Fitbit Users to Gain Access to Peloton Classes
Peloton and Google Fitbit have formed a multi-year, multi-country partnership to promote their fitness-oriented offerings to each other’s customers. Starting in September, Fitbit Premium members will have access to Peloton classes, while Fitbit users without a Premium subscription will have access to a select group of those classes, Peloton said in a Tuesday (Aug. 13) press release.
Tekmetric and Affirm Enable Auto Repair Payments in Installments
Tekmetric has partnered with Affirm to enable auto repair shops to offer their customers the ability to pay over time. With this partnership, Affirm’s payment network can be accessed through Tekmetric’s automotive repair shop management solution, the companies said in a Tuesday (Aug. 13) press release. Auto repair...
FCC Proposes New Rules on AI-Powered Robocalls
In a move that could force businesses to overhaul their automated customer outreach, the Federal Communications Commission (FCC) has proposed new rules requiring companies to disclose when they use artificial intelligence (AI) to generate robocalls and texts, potentially reshaping the landscape of customer interactions and brand loyalty. The FCC’s proposal...
Optimizing Bank Relationships Challenges the Real-Time Treasury Executive
A strong treasury department sees its banks not just as service providers, but as growth partners. Against that backdrop, the digital transformation of the banking sector is increasingly reshaping — and enhancing — the operations of traditional treasury teams. The global banking landscape has seen several changes in...
Sage Expands AP Automation Product to Businesses Worldwide
Business management software firm Sage is expanding its AP automation offering. The company, which makes accounting, financial, HR and payroll products for small and medium-sized businesses (SMBs), announced the expansion Tuesday (Aug. 13) as part of a series of enhancements and updates for customers of its Sage Intacct offering. “As...
FTC Offers Support to Epic Games in Battle With Google
The FTC has offered support to Epic Games in that company’s legal battle with Google. The Federal Trade Commission (FTC) said Tuesday (Aug. 13) that it had filed an amicus brief on behalf of Epic in the case, outlining how a federal judge should consider potential remedies when determining relief following a ruling that found Google liable for illegal monopolization.
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