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