News

Retail
Amazon Follows Walmart in Slashing Grocery Prices to Gain Share
May 31, 2024

As Amazon looks to make a dent in Walmart’s share of consumer grocery spending, the eCommerce company is joining the list of retail giants making widespread price cuts to common food items as shoppers seek the best bargain. Get the Full Story Complete the form...

Banking
Fiserv GM on the Pot of Gold at the End of the ISO Rainbow
May 31, 2024

As payments shift from traditional and manual workflows to automated, digital ones, everything will change. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter,...

Retail
Costco Mulls Raising Membership Fee, Add Warehouses Amid Rising Sales
May 30, 2024

Costco is weighing a raise in its membership fee, and plans to add new warehouses and expand partnerships amid rising sales, the retailer said Thursday (May 30) in its quarterly earnings report. Get the Full Story Complete the form to unlock this article and enjoy...

Retail
‘Department of Nike Archives’ Impacted by Companywide Layoffs
May 30, 2024

Nike’s layoffs have reportedly impacted employees in the company’s archive that stores shoes, gear and other artifacts from the brand’s history. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...

Social Commerce
TikTok Denies Report That It’s Developing US-Only Algorithm
May 30, 2024

TikTok has denied a Reuters report that it is developing a clone of its recommendation algorithm specifically for its 170 million U.S. users. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...

Retail
Rakuten to Launch Exclusive Membership Program for Designer Brands
May 30, 2024

Rakuten, the cashback shopping platform, has announced the upcoming launch of Rakuten+, a membership program created specifically for designer brands. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

B2B Payments
This Week in B2B Innovation: Embedded Experiences, AI and Leverage
May 30, 2024

Digital is a one-way street. And that street is being populated by B2B firms who aren’t looking back after embracing digital innovation to both compete in new markets while at the same time transform their existing commercial relationships. Get the Full Story Complete the form...

eCommerce
High-Income Shoppers Likeliest to Abandon Carts Online
May 30, 2024

As shoppers engage with eCommerce channels, high-income consumers prove, perhaps counterintuitively, to be the most likely to ditch their would-be purchases without completing the transaction. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...

Artificial Intelligence
Grab Teams With OpenAI to Integrate AI in Ride-Hailing, Delivery Business
May 30, 2024

Ride-hailing and delivery company Grab partnered with artificial intelligence firm OpenAI to upgrade its app and integrate AI across its business Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...