News

Security & Fraud
Pay.UK Says Controlling UK’s Payments Fraud Epidemic Needs More than AI
May 16, 2023

Over £1.2 billion ($1.5 billion) in the U.K. was stolen through authorized and unauthorized financial fraud in 2022, according to a recently published UK Finance report. And while that amounts to an 8% drop compared to 2021 figures, there’s no debate that the battle to prevent...

Regulation
CFPB’s Small Business Lending Rules Headed for More Scrutiny on Capitol Hill 
May 15, 2023

Small business lending’s new data-driven approach may be headed for more scrutiny on Capitol Hill. 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,...

Banking
Former SVB CEO Blames Fed Rate Hikes and Online Rumors for Bank Failure
May 15, 2023

Federal Reserve rate hikes and online rumors and misconceptions contributed to the collapse of Silicon Valley Bank. 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...

Investments
Smart Raises $95 Million to Expand Retirement Savings Technology Platform
May 15, 2023

Smart has raised $95 million in Series E funding to grow its retirement savings technology platform. 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,...

Investments
Tipalti Raises $150 Million to Expand AP Automation, Counts JPM as Investor
May 15, 2023

Payables automation platform Tipalti has raised $150 million with the help of JPMorgan Chase. 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, PYMNTS...

Investments
M-KOPA Raises $250 Million to Improve Financial Inclusion in Africa
May 15, 2023

M-KOPA has raised $250 million to expand its financial services offering across sub-Saharan Africa. 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, PYMNTS Today....

Mobile Payments
Nigerian Mobile Companies Block Banks From Text Service Over Unpaid Bill
May 15, 2023

Nigerian mobile companies are reportedly halting text services to banks over a $259 million bill.  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,...

B2B Payments
Zip Launches Intake-to-Pay Tool to Unify Procurement Spend
May 15, 2023

Zip has added procure-to-pay capabilities to its intake-to-procure platform. 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, PYMNTS Today. By completing this form, you...

Faster Payments
Jack Henry Adds FedNow to Real-Time Payments Offerings
May 15, 2023

Payments processor Jack Henry says it is “operationally ready” to support the Federal Reserve’s FedNow service. 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...