For consumers who can get credit, they’re racking up a ton of it. The most recent quarterly report from the Federal Reserve on household debt indicates that credit card balances have exceeded $1 trillion. The data reveals a $45 billion uptick in balances in the...
Groupon is demonstrating progress with its transformation plan, interim CEO Dusan Senkypl said Wednesday (Aug. 9) during the company’s quarterly earnings call. The marketplace for local experiences and services saw positive adjusted EBITDA generation of $15 million in the second quarter of 2023 and is...
SumUp has raised a $100 million credit facility to launch a merchant financing solution. The British company’s Cash Advance tool offers advances of up to £20,000, based on merchants’ payment history and repayable via payment acceptance using SumUp’s card readers. According to a release emailed...
PULSE, a Discover company, has extended its partnership with FICO to deliver fraud-detection technology to financial institutions. This collaboration permits PULSE’s continued enhancements of its DebitProtect suite of fraud-mitigation solutions, which are powered by FICO’s Falcon Fraud Manager and use learnings from its network of participating...
Potential customer loss could outweigh the cost of investing in payment methods that consumers demand. Payment options matter to account holders across generations, but it is the younger demographics most willing to switch their current financial institution (FI) over a lack of innovation. PYMNTS’ May...
Pet medical insurance provider Trupanion says its vet portal can now process a member’s invoice at a hospital in five seconds. This fast, automated invoice processing enables direct payments to veterinary hospitals at the time of checkout, Trupanion said in a Wednesday (Aug. 9) press release. “By...
TikTok has reportedly added retail executives who were previously with Amazon and Meta to help build its eCommerce businesses in the United States. They will replace the social media platform’s U.S. general manager of eCommerce, Sandie Hawkins, who will leave the company, TheMessenger reported Wednesday...
British department store company John Lewis Partnership is the latest retailer investing in artificial intelligence (AI). The company has undertaken a 100 million pound (about $127 million) partnership with Google Cloud as it moves to push its brands John Lewis and Waitrose further into the digital space, according to a Wednesday (Aug. 9) press release....
Amazon is reportedly in discussions to invest in chipmaker Arm’s initial public offering (IPO). Arm owner SoftBank is also talking to Google and companies from other industries heavily dependent on semiconductors in anticipation of a Nasdaq listing for Arm, the Financial Times (FT) reported Wednesday (Aug. 9). Amazon Web Services (AWS) is one of...
