And now comes the real test. Almost four years ago, the Federal Reserve announced that it would develop a “round the clock real time payment and settlement service” that would underpin faster payments. Enabling the instant transfer of funds 365/24/7 is, and has been, a...
Payments infrastructure TerraPay has launched a cross-border remittance partnership with Kenyan telecommunications firm Safaricom. The collaboration, announced Wednesday (July 19), will operate through TerraPay’s remittance provider Mobex and let more than 30 million M-PESA mobile wallet-holders in Kenya send real-time payments to Bangladesh and Pakistan,...
As consumers increasingly turn to eCommerce platforms to get their day-to-day needs met alcohol remains largely left out of the digital shift, leaving a significant opportunity for those that can navigate the tangle of rules and regulations. In an interview with PYMNTS, Zac Brandenberg, co-founder and...
America’s banks are under increasing pressure as their corporate and institutional clients seek greater rates on deposits. It’s a situation that is putting a strain on banks’ profit margins and a sign that lenders will have a tougher time generating revenue as monetary policies tighten,...
Lowe’s is taking its same-day delivery offering nationwide. The home improvement retailer on Wednesday (July 19) announced it was expanding that offering via a partnership with last-mile transportation company OneRail, letting customers get products delivered in hours. “Utilizing all of our 1,700-plus stores for online delivery and fulfillment is...
Anticipated back-to-school (BTS) shopping expenses are expected to reach $41.5 billion, exceeding the previous record of $37.1 billion set in 2021 and the $36.9 billion in 2022. To secure its share of the BTS spending, Amazon unveiled its 2023 campaign starring actor Randall Park, known...
With the increase in travel, brands, retailers, and solution providers are striving to capture a larger portion of the consumer expenditure to expand their market share. The latest effort is marked by Perfect Corp., an augmented reality (AR) company, which has entered into a partnership with...
Federal regulators want the public’s input into new guidelines governing mergers. The Federal Trade Commission (FTC) and Department of Justice (DOJ) on Wednesday (July 19) unveiled long-awaited updates to the government’s merger rules, representing the first updates to the way officials review corporate tie-ups in years. “Open, competitive, resilient markets have...
While Richmont has essentially declared that China isn’t buying, prestigious London department store Harrods is preparing to unveil an exclusive club in Shanghai. This step not only marks the luxury retailer’s first venture into international territory but also contradicts the wishy-washy buying patterns observed among Chinese...
