An unnamed faction of the coalition of 28 organizations called on by Facebook to help bring Libra to fruition, including Visa and Mastercard, are reportedly looking for ways to distance themselves from the company after intense worldwide regulatory scrutiny regarding the proposed cryptocurrency.
Dutch payments processor Adyen showed significant double-digit, first-half gains, driven by online commerce and global business from mid-market firms. The firm’s net income was up 92 percent and its growth outpaced its top-line momentum.
Corporate eCommerce card company Brex recently announced a partnership with leading SaaS eCommerce platform BigCommerce. Brex’s open credit line, three-month payment terms and interest-free financing are now available to all BigCommerce merchants through the BigCommerce App Store.
Amazon continues its commitment to expanding into India with the purchase of a 49 percent stake in Future Coupons, which is owned by India’s second-largest retail chain, Future Retail. So far, Amazon has invested more than $6 billion in India’s growing internet market. The company also recently opened its biggest campus ever in Hyderabad.
AI-powered is becoming more and more common, and millennials expect companies to have at least a basic understanding of the technology when it comes to shopping. Fraud remains an ever-present challenge, however, and marketplaces worldwide are deploying new defenses.
PYMNTS CEO Karen Webster and Heather Lee, financial crime compliance and sanctions strategy at SWIFT, had an in-depth conversation about the challenges of bringing compliance processes up to the speed as demanded by global businesses’ expectations of faster cross-border payments.