Top News In Payments: Open Banking Could Expand In UK; Goldman Leads $1.75B Credit Line For WeWork

PYMNTS Top News in Payments

In today’s top payments news, the Financial Conduct Authority proposed new data sharing rules to expand open banking in the U.K., and WeWork received $1.75 billion in new fundraising from Goldman Sachs. Also, Apple is expected to see huge growth in its wearables goods, especially its AirPods, over the next four years.

UK Regulator Looks To Expand Open Banking Beyond Banking

In the U.K., Open Banking could be expanded soon to allow for data sharing between a much larger range of finance companies. The new open sharing rules proposed by the Financial Conduct Authority would “increase innovation and choice” and prevent unfair competition.

Goldman Leads $1.75B Line Of Credit For WeWork

WeWork, the office space and workplace solutions firm, has received $1.75 billion in new financing in a drive for fundraising headed up by Goldman Sachs Group, Inc. This is SoftBank’s first hurdle in reaching a $5 billion bailout effort.

Apple Expected To See Booming Wearables Demand Through 2023

The International Data Corporation forecasted the worldwide “earwear” market to nearly double by 2023. Apple dominates the wearables market, leading with its AirPods.

Chapter 11 Not An Option For Cash-Strapped Cannabis Companies

Marijuana companies are hurting from a looming cash crunch and restrictive regulations in the U.S. Some may even run out of money in just a few weeks. But due to their federal illegal status, marijuana companies don’t qualify for Chapter 11 bankruptcy.

An Automated, AI Fix For Law Firms’ Paper Check Rut

Law firms still cling to paper checks, despite the availability and security offered by digital disbursements tools. In the latest Disbursements Tracker, PYMNTS spoke with Joshua Browder, founder and CEO of mobile settlement app DoNotPay, on law firms’ affinity for legacy methods and what it will take for the legal world to embrace digital disbursements.

How AI Helps Priceline Ground Fraudsters, Lets Customers Take Off

The digital world — especially that of online travel — is still rife with fraud, but the defensive security measures currently in play alienate and inconvenience customers. For this month’s Digital Fraud Tracker, PYMNTS spoke with Eric Lorenz, VP of finance operations for Priceline, about how the online travel agency leverages artificial intelligence (AI) to seamlessly identify risky transactions.


New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.