A top House Republican wants to overturn a recent federal regulation governing non-bank financial companies. Rep. French Hill (R-Ark.) introduced a resolution Wednesday (April 17) that would yank the approval of the Financial Stability Oversight Council (FSOC)’s guidance on non-bank financial company determinations, adopted last fall. “This guidance transforms...
Retail subscriptions represent a massive growth opportunity for eCommerce merchants. PYMNTS Intelligence data reveals that more and more consumers are choosing to take advantage of the convenience that online retail subscriptions provide. In “The Replenish Economy: A Household Supply Deep Dive,” a report PYMNTS Intelligence...
Digital payments platform WorldFirst has debuted a solution to help small businesses speed cross-border payments. WorldTrade, announced Thursday (April 18), is aimed at small and medium-sized enterprises (SMEs) that procure products from suppliers based in China. “The launch of WorldTrade aims to build trust in B2B trade through digital...
Revolut has reportedly made a $100 million-plus bet on Mexico’s remittance market. Speaking with Reuters Wednesday (April 17), Revolut Mexico CEO Juan Miguel Guerra said the bulk of that investment will be used to hire staff, cover short-term debt and expenses and maintain a strong...
Cognizant and FICO plan to launch a cloud-based real-time payments fraud prevention solution designed for North American banks and other payment service providers. The joint offering would leverage both firms’ artificial intelligence (AI) and machine learning (ML) technologies, the companies said in a Wednesday (April 17) press release....
The Consumer Financial Protection Bureau (CFPB) has issued an order against coding bootcamp BloomTech, also known as the Bloom Institute of Technology, and its CEO, Austen Allred, alleging that they deceived students about the real cost of loans and made false claims about the hiring rates of the bootcamp’s graduates. The...
JCPenney has debuted its Rewards and Credit Program, a free loyalty program for customers. “Last year, JCPenney announced a $1 billion reinvestment plan to further improve customer experience and operational efficiencies,” the department store chain said in a news release Wednesday (April 17). ”Now, with...
Shoppers who are willing to leave their favorite retailers in search for better prices are hesitant to make the same kinds of changes when it comes to grocery shopping, PYMNTS Intelligence research reveals. By the Numbers According to a PYMNTS Intelligence survey, the majority (52%) of...
Full-stack payment processor Finix has launched a solution that allows businesses to onboard merchants for payment acceptance in a streamlined way. The new Merchant Underwriting solution also ensures that the businesses remain current with evolving regulations from governments, card networks and sponsor banks, the company said in a...
