Developing economies such as the Middle East, Asia, and Africa are all poised for massive growth as cash goes digital and consumers embrace mobile. As different as these markets are, they have one common theme: consumers are driving the change. MasterCard’s CEO of ElectraCard Services...
Sears Holdings burned through another $747 million and recorded a loss of $573 million in its second fiscal quarter. The retailer is weighing additional steps to shore up its balance sheet, the company said in its earnings call on Thursday (Aug. 21). Get the Full...
More than 1,000 merchants have been hit by the Backoff malware, given that it was “detected in October 2013 and was not recognized by antivirus software until August 2014,” according to a joint statement issued Friday (Aug. 22) by the U.S. Department of Homeland Security...
As more and more hints have made it clear that Twitter is toying with a direct payment mechanism, the idea that Twitter will be doing payment is no surprise. But a report out now suggests that the answer to the “how” part of Twitter payments...
Over the past week, PYMNTS.com’s brief’s coverage in this newsletter has spanned a broad variety of issues. In this column, we take a look at five common elements that link many of those stories, in essence making them the “trends of the week.” Get the...
In June, Federal Reserve Financial Services hosted a series of town hall meetings to discuss a variety of initiatives designed to improve B2B transactions, along with P2Ppayments. Among the goals include speeding up transactions, improving efficiency, enhancing payment safety and security, improving cross-border payments, and...
Former Aeropostale executive vice president and chief marketing officer Christopher Finazzo wassentenced on Wednesday (Aug. 20) to eight years in prison for his role in a kickback scheme. Finazzo was convicted of receiving more than $25 million in kickbacks from a clothing supplier in exchange...
The Export-Import bank of the United States provides credit services for U.S. businesses operating in somewhat risky foreign markets. The bank has been open for business for 80 years and is running a $2 billion surplus, but the fate of it charter is uncertain as...
China’s National Development and Reform Commission (NDRC)stated on Wednesday (Aug. 20) that 12 Japanese auto parts makers have been fined 1.24 billion yuan ($202 million) for their involvement in an alleged price-fixing scheme. Sumitomo Corp., Mitsubishi Electric Corp. and Denso Corp. are some of the...
