News

B2B Payments
Death by Paper Cut: The Hidden Costs of Checks
September 05, 2023

The way things have always been done could be harming firms in the long run. That’s because in an era where technological advancements are transforming industries at an unprecedented pace, businesses that continue to rely on paper checks and other manually driven processes are inadvertently...

Investments
Buttnernut Box Raises Over $350 Million Amid Pet Care’s D2C Shift
September 05, 2023

With consumers disproportionately turning to eCommerce channels to get their pet supplies — and willing to pay a premium to do so — Butternut Box is bringing in funding by the hundreds of millions. The United Kingdom-based direct-to-consumer (D2C) brand, which sells dog food subscriptions, announced Monday...

B2B Payments
Boost and Esker Partner to Automate B2B Virtual Card Payments
September 05, 2023

Boost Payment Solutions and Esker have partnered to fully automate virtual card processing for accounts receivable (AR) departments. The collaboration seeks to streamline payment reconciliation and eliminate manual efforts, offering greater efficiency and simplicity to the virtual card acceptance process, the companies said in a Tuesday (Sept. 5) press...

Investments
ThetaRay Raises $57 Million for AI-Driven Financial Crime Detection
September 05, 2023

Payments firm ThetaRay has raised $57 million to boost its financial crime detection capabilities. The growth round, announced Tuesday (Sept. 5), was led by Portage and will allow ThetaRay to accelerate its global growth plans. “Global payment infrastructure too often fails to accurately differentiate between perfectly legitimate transactions...

Digital Banking
New Contenders Compete in PYMNTS’ Provider Ranking of Digital Banking Apps
September 05, 2023

Preferences for the best digital banking experience remain uncertain, leading to tied scores and the presence of both new and returning names in PYMNTS’ Provider Ranking of Digital Banking Apps. As a result, the current Top 10 ranking includes 11 apps. The Top 5 Tying for...

B2B Payments
PayU India Rolls out Tools for Merchants
September 05, 2023

PayU India has introduced new tools to help businesses address various payment challenges. The online payments company’s CommercePro stack, announced Tuesday (Sept. 5), is designed to help merchants deal with issues like cart abandonment and scalability troubles. “This comprehensive toolkit, fueled by Indian innovation and technology built out...

Regulation
Apple and Microsoft Push Back Against EU’s ‘Gatekeeper’ Designation
September 05, 2023

Microsoft and Apple are reportedly protesting their classification as “gatekeepers” under new European tech regulations. As the Financial Times (FT) reported Monday (Sept. 4), the tech giants’ fight with the European Union (EU) is happening as that body prepares to publish services regulated under its Digital Markets Act (DMA). Under...

Retail
Luxury Shoppers Are Slow to Convert but Demand Digital Innovation
September 05, 2023

Luxury retailers have established a reputation for their exclusive and upscale offerings, catering to a limited clientele characterized by discerning preferences and substantial financial resources. Their primary emphasis on premium goods distinguishes them from affordable retailers, yet it also presents distinct challenges, including lower conversion...

Faster Payments
Push to Debit Brings ‘Emotional Relief’ of Faster Payments to Property Management Sector
September 05, 2023

Property management always has a flurry of activity in the background. Landlords employ and contract with a variety of vendors and suppliers to keep things running smoothly, the grounds maintained, the sinks and toilets unclogged. Tenant turnover — where one renter leaves and another moves...