TikTok is reportedly in early-stage talks with Indonesian regulatory authorities to obtain a payments license. The ByteDance-owned social media platform’s application has been favorably received by Indonesia’s central bank, Reuters reported Friday (Aug. 4). A payments license would enable TikTok to benefit from transaction fees and would help local...
LLMs are paving the way for innovative new AI products across sectors such as healthcare, law and finance, but all this innovation comes at a price, ranging from the cost of computing power to the societal toll of displacing workers and spreading misinformation. The “Generative...
Business-to-business (B2B) payments are generally last on the innovation train. Still, the lack of modern B2B payments technology is nowhere more evident than in the technology industry itself. A recent Gartner survey reveals that challenges plague technology purchasing in the B2B space. Technology buyers routinely...
Credit unions have long occupied a specific market niche within the financial industry. CUs favor more personalized and member-focused services than their bank counterparts but typically operate on a much smaller scale. This market niche has come under threat in recent years, however, as consumers...
Chipotle’s experience through the pandemic mirrored that of other merchants, Jason Scoggins, senior director of loyalty and CRM, told PYMNTS. “We saw minimal foot traffic, but our digital customers really came out in full force,” he said. But as the pandemic has receded, as Chipotle’s...
The eCommerce giant ContextLogic Inc., better known as Wish, reported a 42% drop in total revenue year-over-year in its second-quarter earnings Thursday (Aug. 3), blaming competition and a challenging business environment for the decline. According to the company’s earnings call with analysts, it closed out Q2...
The Cuban Central Bank has issued new regulations designed to address runaway inflation and the large off-the-books economy that has developed in the midst of the country’s economic crisis. The regulations, which went into effect Thursday (Aug. 3), put a limit of 5,000 pesos on...
The head of America’s biggest bank said new capital requirements may have slowed economic growth. J.P. Morgan Chase CEO Jamie Dimon said in a Wednesday (Aug. 2) CNBC interview that the Federal Reserve and Federal Deposit Insurance Corporation’s (FDIC) proposed requirements would make mortgages and...
LegalZoom has launched an online accounting solution designed specifically for solopreneurs. The new LZ Books was built to help these emerging entrepreneurs manage their books, secure new work and better prepare for tax time, LegalZoom said in a Thursday (Aug. 3) press release. “LZ Books is a significant step...
