A flaw in Revolut’s U.S. payment system reportedly let criminals steal more than $20 million. As the Financial Times (FT) reported Sunday (July 9), the thefts occurred over several months in 2022 before the British FinTech was able to fix the issue. According to FT, sources with knowledge...
British lobbying group UK Finance has reportedly tied a bulk of the country’s digital payments fraud to Meta Platforms. As the Financial Times reported Sunday (July 9) — citing unnamed sources — the group has written to Jeremy Hunt, the British chancellor, saying that its data has found...
Snapchat’s plan to woo creators by allowing them to share ad revenue could be paying off. That program, which debuted in April and is known as Snap Star, has several thousand creators in it. And as The Wall Street Journal reported Sunday (July 9), the time users spent...
While the potential of generative artificial intelligence (AI) may seem limitless, the computing power it requires could present limitations. One estimate places the cost of a ChatGPT query at 1,000 times that of the same question asked of a normal Google search. In the initial...
Earned wage access providers are garnering more scrutiny — and more oversight — state by state. Missouri’s governor signed a bill that, among other things, will require providers to register with the state Division of Finance beginning in late August. The bill itself also mandates that providers are required...
SumUp has partnered with Form3 to enhance its business account offering for United Kingdom customers. With this move, SumUp, a global FinTech that serves 4 million small businesses in 35 markets worldwide, will gain direct access to the U.K. Faster Payments Scheme (FPS) and Bacs Scheme, the companies said in...
As businesses look to balance consumers’ on-demand expectations with the high cost of fulfillment, ultrafast delivery has been faltering, and DoorDash has become the latest to pull back its efforts in the space. In news first reported by Business Insider and confirmed to PYMNTS, the...
Meadow Lark Agency has partnered with OTR Solutions on carrier payment systems. The strategic partnership will allow OTR Solutions’ back-office services to support Meadow Lark’s carrier payment process, giving Meadow Lark carriers access to favorable terms, the companies said in a Friday (July 7) press release. “This carefully curated partnership...
The President Joe Biden administration has proposed restrictions on “junk insurance” plans that don’t meet the standards of the Affordable Care Act. These short-term plans have taken advantage of loopholes that allowed them to avoid some requirements of the act, the White House said in a Friday (July...
