Amazon and Walmart may be setting their sights on high-income consumers, but as the two retail giants compete for shoppers’ spending, they are working hard not to lose their lower-income customers in the process. Amazon, for its part, announced Wednesday (May 15) the introduction of...
Call it the week of the platform. Earnings reports from firms that focus on bringing supply and demand together — in lending, for example, or for modernizing payments between merchants and consumers — were dominant in the headlines. With stocks remaining volatile in the wake of those earnings...
California-based Avidbank has tapped CorServ to help launch a new credit card program for the bank’s commercial customers. Avidbank transitioned from its previous program to CorServ’s Account Issuer program, the companies said in a Tuesday (May 14) press release. The new program provides Avidbank’s commercial customers with better choices...
The B2B landscape is built atop a foundation of innovation designed to meet business needs. And with the news that U.S. corporate bankruptcies have reached their highest level since April 2023, there are a lot of business needs out there in the marketplace to inspire innovation....
Digital payments company Aeropay has raised $20 million in new financing. The company, which specializes in pay-by-bank, announced the Series B funding in a Thursday (May 16) press release, saying it would use the financing to develop new products, enhance strategic partnerships and “explore greenfield opportunities.” Aeropay, which got its...
Reading the Thursday (May 16) Supreme Court ruling upholding the constitutionality of the Consumer Financial Protection Bureau’s funding mechanisms — and ensuring the agency’s survival — takes one through centuries of history. All the way back to England, Parliament and the Crown. All the way back to the inner workings of...
Dwolla and Visa have partnered to make it easier for mid- to enterprise-size businesses to use pay-by-bank to pay and get paid. With this collaboration, Visa’s open banking solutions are integrated into Dwolla’s account-to-account (A2A) payment technology, the companies said in a Thursday (May 16)...
Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing, $15 million in equity — Thursday (May 16), saying it would use it to fuel the growth of originations on...
Members of Congress from both houses and both parties sent a letter Tuesday (May 14) to the heads of eight federal financial regulatory agencies, urging them to implement the Financial Data Transparency Act (FDTA). The letter was signed by House Financial Services Committee Chairman Patrick McHenry, Ranking Member Maxine Waters, Sen. Mike Crapo and Sen. Mark Warner. Implementing the law...
