For most of the history of financial services, credit functioned as a blunt instrument. A bank extended a line, a customer drew on it and borrowing remained separate from spending. The amount borrowed determined the terms, while what customers actually purchased was irrelevant. Get the...
Some of the biggest U.S. banks are exploring a deal that could reshape the economics of debit cards, reopen one of payments’ fiercest policy fights and give large issuers a way around federal fee limits they have opposed for more than a decade. Get the...
A group of major artificial intelligence (AI) investors is pooling capital into a vehicle designed to buy up traditional services businesses and transform them using AI. Thrive Holdings, a one-year-old holding company started by OpenAI investor Thrive Capital, is raising around $2 billion from Altimeter...
FinTechs are treating banking licenses as strategic infrastructure. Klarna’s decision to apply to establish Klarna Bank USA, a Utah-chartered industrial bank, illustrates that shift. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
A coalition of global fashion brands and digital marketplaces is mounting a campaign to eliminate sales taxes on secondhand clothing, according to a report June 30 from Retail Brew. The group argues that taxing items at the point of resale constitutes “double taxation,” as the...
The U.S. Department of the Treasury has produced a draft report warning of extensive risks to the economy if the artificial intelligence market repeats what happened when the dotcom bubble burst 25 years ago, according to NOTUS, which obtained a copy of the document. Get...
From hands-off to hands-on. The Trump administration increasingly is taking a direct role in overseeing the release of the most powerful artificial intelligence (AI) models, marking a sharp turnaround from its previous policy of removing regulations that might hamper U.S. development of the technology. Get...
General-purpose AI models have been trained on enormous volumes of public financial data. What they cannot replicate is the judgment an experienced investment analyst builds over years — which signals matter, which documents are worth reading and how to separate the relevant from the noise...
The European Central Bank’s payment system has experienced two outages in one week. 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...
