Walmart has shuttered half its Chicago stores while facing heavy competition for grocery customers. The move, announced Tuesday (April 11), brings the number of Walmart stores in America’s third largest city from eight down to four, and is happening as the country’s largest brick-and-mortar retailer...
As funding evaporates, venture capital firms are seeking an oasis in the Middle East. Groups like Andreessen Horowitz, Tiger Global and IVP have in the past weeks sent teams to Qatar, the United Arab Emirates and Saudi Arabia, the Financial Times (FT) reported Wednesday (April...
Elizabeth Graham, product manager at Entersekt, said false declines carry significant risks for banks and merchants, where consumer loyalty is critical. Merchants and issuers are losing money through the false declines, as a result — more money than would have been lost to potential fraud, said...
In response to widespread demand for convenience, nonfinancial companies are using banking-as-a-service (BaaS) to seamlessly integrate financial products into traditionally nonfinancial platforms and experiences. Known as embedded finance, this integration of financial services has become immensely popular: In 2021, businesses and consumers spent $2.6 trillion...
Like other industries, the pandemic saw remittance customers shifting from traditional brick-and-mortar environments to the digital space, with some customers using an app to transfer funds and check exchange rates for the first time. According to Jose Ivars-Lopez, U.K. and Ireland country manager at Ria,...
Call it peer-to-peer or person-to-person, but P2P is taking on new significance in a troubled economy where splitting the restaurant bill or lending your friend a few dollars is a big deal. Closed-loop P2P platforms like Venmo and Zelle are handy but have limitations, requiring...
When goods pile up on shelves and in wholesale channels, markdowns loom. And among the latest spate of economic data, there are hints that a summer slowdown for many merchants may be in the offing. As reported by the Census Bureau on Monday (April 10),...
Meta says Brazilian WhatsApp users can now use the messaging app to pay local businesses. “This seamless and secure checkout experience will be a game-changer for people and small businesses looking to buy and sell on WhatsApp without having to go to a website, open...
A former investment banker has been arrested and charged with wire fraud in connection with an alleged cryptocurrency fraud. Rashawn Russell, who was a Financial Industry Regulatory Authority-registered broker, has been charged with one count of wire fraud related to his alleged role in the...
