XFlow has raised $10.2 million in a pre-Series A round to expand its cross-border payments solutions. The India-based financial services and infrastructure firm will use the new capital to expand the capabilities of its product and grow its business in India and other countries, The Economic Times reported...
Klarna aims to lead a shift in purchases from search to recommendations. While 80% of purchases currently originate from search, shoppers are now looking for recommendations instead, the buy now, pay later (BNPL) provider said in a Friday (May 26) press release announcing its first-quarter...
Despite facing challenges in the first quarter due to changes in Foot Locker’s physical presence, brand assortment, digital initiatives, and omnichannel strategies, the retailer is using concept stores as experimental spaces to explore localization in a bid to make deeper customer connections. During the Q1...
Ulta Beauty CEO Dave Kimbell shared the company’s first-quarter results on Thursday (May 25), highlighting a 12.3% increase in sales compared to the previous year. Same-store sales also experienced a positive growth of 9.3% over the previous year. Despite the positive results, the beauty retailer...
Generative AI has permanently altered how humans create new ideas and content, yet even OpenAI's own AI detector misses 74% of AI-generated content. In the inaugural issue of the “Generative AI Tracker®,” PYMNTS describes how the race is on to ensure that human-generated materials retain...
Value may outweigh convenience when it comes to recurring subscriptions, as consumers seek any and all avenues to cut costs. Consumers are digging deep to find ways to save as inflation continues to distort most shoppers’ budgets. Subscription plans experience some of the steepest drop-off...
Fueled by rising digital threats, security stands top of mind for retail banking customers. Nearly 7 in 10 worry about their personal and financial data vulnerability when engaging with online financial services. PYMNTS’ latest research found that this security concern is prevalent across demographics, particularly...
As demand for faster payments increases around the world, financial institutions (FIs) in Europe are having to beef up investment in real-time data and payment processing infrastructure to meet the needs of their corporate clients. But it might take a while for those investments to...
Costco’s comparable sales growth has slowed as consumers reduce their purchases of discretionary items. The membership warehouse club’s comp sales rose 0.3% year over year during the quarter that ended May 7, Costco said in a Thursday (May 25) earnings release. Bigger-ticket discretionary items like furniture...
