The European Union (EU) reportedly aims to build a team comprised of 40 people to enforce the Digital Markets Act (DMA) rules aimed at Google, Meta, Amazon, Apple, Microsoft at other Big Tech firms. The EU’s antitrust regulators also plan to add a chief technology...
On a call discussing McDonald’s third-quarter 2022 financial results Thursday (Oct. 27), CFO Ian Borden noted that, following the MyMcDonald’s Rewards U.S. launch last year, digital customer frequency has been on the rise every quarter. “Each reward a customer redeems and each preference of customer shares on our app helps power...
One year after its heady $1.7 billion initial public offering (IPO), fashion rental and resale company Rent the Runway is facing a far more humbling reality after its stock has plunged 90% since its debut. While the entire market and resale category have also suffered,...
Two weeks after a widely reported furor over reports of a policy that threatened to fine users for sharing what the company determined to be misinformation, PayPal has issued a statement clarifying its position on “appropriate behavior” and fines. In a statement emailed to PYMNTS,...
Macroeconomic headwinds reportedly may begin weighing on the B2B payments sector. For example, B2B payments technology and services provider Fleetcor Technologies faces the primary challenge of a macroeconomic slowdown that will reduce payments growth, Seeking Alpha reported Wednesday (Oct. 26). The company has also been...
British money transfer firm Wise has received $300 million pounds (about $347.1 million) via a syndicated debt facility from the United Kingdom branch of California’s Silicon Valley Bank (SVB). The debt investment was a joint effort between SVB and six other banks, according to published...
Boost Mobile is entering the financial service sector with the launch of OmniMoney, a tool that offers underbanked consumers a free digital money account and debit card. “We’re looking to provide basic services for historically excluded communities — where 60 million Americans are underbanked,” Boost...
The Consumer Financial Protection Bureau (CFPB) is looking at ways to give consumers more control over their financial data. Under the options the CFPB is considering, consumers would be able to more easily and safely “walk away from companies offering bad products and poor service”...
Pay solutions firm CloudPay has raised $50 million in a new round of funding as the London-based company looks to meet a demand for integrated payroll and payment services. The capital will “support CloudPay’s continued innovation of its end-to-end enterprise global pay offering,” according to...
