News

Digital Banking
PYMNTS Intelligence: Countering Rising Fraud Threats to CUs
September 07, 2023

Fraud attacks against banks and credit unions (CUs) are nothing new, but consumers are taking them much more seriously than they used to. A study found that 74% of consumers rate fraud protection as a top-three priority when opening a new financial account, outstripping ease...

IPO
Report: Instacart Plans to Set IPO Price As Soon As Monday
September 07, 2023

Instacart could reportedly set its initial public offering price range in a matter of days. The online grocery delivery service is planning to set its listing price and kick off its roadshow on Monday (Sept. 11), Bloomberg News reported Wednesday (Sept. 6), citing sources familiar...

Investments
Shop Circle Raises $120 Million to Develop eCommerce Tools
September 06, 2023

Shop Circle has secured $120 million in Series A funding to further develop its suite of eCommerce tools. The firm also aims to solidify its position as a one-stop shop for software for eCommerce merchants, Shop Circle said in a Thursday (Sept. 7) blog post. “Our...

Artificial Intelligence
Temenos Introduces Gen AI Solution for Classifying Banking Transactions
September 06, 2023

Temenos has introduced a secure solution that uses generative artificial intelligence (AI) to deliver personalized banking experiences by automatically classifying customers’ banking transactions. The tool aims to enhance digital banking experiences, provide personalized insights, and improve customer loyalty through more relevant products and offers, Temenos...

eCommerce
DoorDash CEO Calls Out Instacart Amid Aggregator’s Own eGrocery Push
September 06, 2023

As DoorDash pushes to grow its share of online grocery, Tony Xu, CEO of the San Francisco-based aggregator, is reportedly casting doubt on Instacart in the leadup to the rival’s planned initial public offering (IPO). According to Barron’s, Xu said Tuesday (Sep. 5) at Goldman...

Security & Fraud
Amazon Sues Alleged Counterfeiters in ‘Hidden Links’ Scheme
September 06, 2023

Amazon has accused a pair of social media influencers of promoting counterfeit goods. In a lawsuit filed Wednesday (Sept. 6), the eCommerce giant accuses Kamryn Russell, Ashley Hawat and unnamed co-conspirators of intentionally trying to get around Amazon’s brand protection systems to sell fake versions of...

Investments
Wayflyer Bolsters Growth Platform With $1 Billion Financing
September 06, 2023

Wayflyer, a revenue-based financing and growth platform for eCommerce businesses, has secured $1 billion dollars in financing from investment management firm Neuberger Berman. This off-balance sheet program will enable Wayflyer to deploy capital to its extensive network of over 3,000 eCommerce merchants globally, the company said...

Artificial Intelligence
Emagia Launches Generative AI-Powered ‘Copilot for Finance Executives’
September 06, 2023

Emagia has launched a generative artificial intelligence (AI) solution designed specifically for finance operations executives. The new GiaGPT aims to transform the way finance professionals interact with their enterprise finance reports, data and documents, the provider of autonomous finance solutions said in a Wednesday (Sept. 6) press release. GiaGPT...

eCommerce
Patrick Schwarzenegger’s Mosh Targets Cognitive Concerns to Stand Out in D2C Snacks
September 06, 2023

Amid a seemingly overwhelming array of nutrition bar options in stores and via direct-to-consumer (D2C) channels, Mosh is touting brain benefits in an effort to win customers in the highly competitive space. In an interview with PYMNTS, Patrick Schwarzenegger, CEO of the snack brand, which...