After Singapore’s state-owned investor Temasek wrote off its $275 million stake in now-bankrupt cryptocurrency exchange FTX, some of the country’s legislators are reportedly questioning the organization’s due diligence. Both Prime Minister Lee Hsien Loong and Deputy Prime Minister Lawrence Wong have fielded questions from members...
Three years in, China continues to weather fallout from the pandemic. And that fallout, as lockdowns and civil unrest wrack an already volatile economy, may have negative knock-on effects for global marquee brands — Apple, Nike and Starbucks among them. This, as weekend protests have...
While most retailers are cutting prices and focusing more on essentials, a new Sabyasachi boutique in New York City is attracting buzz for its curated, high-priced luxury goods that one industry-watcher characterized as “maximalist.” Thanks to the continued resilience and buying power of wealthy consumers,...
Driven by an inflation-fueled demand for deals, the official kick-off weekend of the 2022 shopping season outperformed events of the past two years albeit with a new bias for more point-of-sale credit and financing and increased reliance on digital channels than ever before. PYMNTS’ just...
The fastest growing apparel reseller in Europe is looking to bring its game to the U.S. market. This, as Vinted is expanding beyond its base in Lithuania, after successfully building out its brand across several of Europe’s largest markets where it has quietly become the...
Payments credit union service organization (CUSO) PSCU is now offering its enhanced fraud services in two varieties — consulting and monitoring — to enable credit unions to pick the service level that meets their needs. The new monitoring option includes select features from the full...
Seven of America’s largest banks are reportedly working on a plan to reimburse victims of scams on their payment network Zelle amid calls for greater oversight in the peer-to-peer payment sector. JPMorgan Chase, Wells Fargo and Bank of America are among the banks holding talks...
Faster payments take center stage this coming year, as FedNow, the U.S.-based instant payments network, gets up and running. But as Wells Fargo Head of Enterprise Payments Strategy Ulrike Guigui recounted to PYMNTS’ Karen Webster, instant payments have been around since before the pandemic. And...
Digital payments company Pax2pay is making its travel payments tools more efficient for businesses through a new business accounts payable platform to optimize travel invoicing. In a Thursday (Nov. 24) press release, the company unveiled its plans for the platform, which would give businesses access...
