In an environment with high interest rates and the expansion of instant payment systems, retailers are shifting their payment preferences by leaving traditional methods and replacing them with faster and lower-cost systems such as real-time payments and instant ACH. Forty-two percent of retail firms in...
TikTok is offering authentication services for pre-owned handbags on its American eCommerce marketplace. TikTok Shop teamed up with luxury goods authentication provider Real Authentication to offer this service, the two companies announced Monday (Nov. 6) press release. “As the demand for resale luxury increases, it...
The holidays are upon us, and gift cards remain a favorite to give and receive. And the fraudsters lie in wait — armed with advanced technologies and sophisticated schemes. Doriel Abrahams, head of risk at Forter, told PYMNTS in an interview that gift cards have...
Fitness prioritization is on the rise, and consumers are pumping up their standards for fitness trackers. Counting steps and heart rates is no longer the finish line; people now crave a workout buddy that can provide them with a full range of health insights. Moreover,...
Shopify is shining a light on its role in the online payment industry. During its recent earnings call held Friday (Nov. 3), the company shared that 58% of its users prefer to use Shopify Payments, their in-house payment solution. “That is an all-time high in...
American regulators approved new guidelines for monitoring financial risk following this year’s banking crisis. The U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) on Friday (Nov. 3) announced it had approved a new analytic framework for financial stability risks and updated guidance for non-bank financial company determinations process. “Financial...
In the banking world, it’s a practice known as “exiting” or “de-risking.” It’s what happens when a bank closes a customer account after flagging suspicious activity to crack down on fraud and other crimes. And according to a Sunday (Nov. 5) New York Times (NYT)...
On Sunday (Nov. 5), most U.S. states will “fall back” an hour, giving people an extra wink of sleep. While the states that embrace this time change will relish the extra hour of slumber, the existence of Daylight Saving Time (DST) has long been a subject...
The Clearing House has reportedly said that it is not aware of any ongoing issues after a narrow processing error that affected deposits and transfers at some banks. Bank of America had sent a memo to clients Friday (Nov. 3) saying that some of their deposits may...
