Much of payment processing already happens without an employee touching the transaction. The “hands-on” interactions come when payments fail to clear, or transactions trigger fraud reviews. In other cases requiring manual oversight, payments don’t match the invoices, ledgers or bank records surrounding them. The August...
Moving money across borders may be one of the last steps in an international payment. Getting the money ready to move can take considerably longer. Before a multinational company pays an overseas supplier, its finance team often needs to verify the counterparty, reconcile an invoice...
OpenAI expects its annualized revenue to reach at least $70 billion by the end of the year, up from $50 billion at the end of September, Bloomberg reported Friday (Oct. 9), citing unnamed sources. The expected gains are being driven by growth in OpenAI’s enterprise...
Watch more: Need to Know With Splitit’s Nandan Sheth Artificial intelligence could turn pay later from an offer at checkout into advice about whether financing the purchase makes sense in the first place. Doing that requires more than finding the lowest monthly payment. An agent...
Businesses that combine several artificial intelligence tools to fight payments fraud are nearly twice as likely to stop at least 90% of attempted attacks before losing money, according to new PYMNTS Intelligence research. “Prevention First: Building a Smarter Defense Against Payments Fraud” is a PYMNTS...
A federal antitrust lawsuit brought against McDonald’s this week illustrates the complexities involved in applying decades-old laws to artificial intelligence and other software tools, Reuters reported Thursday (Oct. 8). The case against McDonald’s alleges that the fast-food company pressures its franchisees to use its AI-powered...
If Revolut pursues an initial public offering, CEO Nik Storonsky wants the primary listing to be in the United States, Bloomberg reported Thursday (Oct. 8). During an interview with Bloomberg TV, Storonsky said, per the report: “That was always the target, given the deep liquidity of the U.S. market.” Storonsky had...
Epic Systems found flaws in certain MyChart configurations that could let someone view patient records without the access appearing in an audit trail. The company found them by testing its software with Anthropic’s Claude Mythos, Stirling Martin, Epic’s chief security officer, told The New York...
The White House announced Thursday (Oct. 8) that 11 companies have committed a total of $2.4 billion in artificial intelligence, which the administration dubs “super intelligence,” to support federal agencies working on energy, health, space and other challenges. The contributions include AI for science tools...