News

Security & Fraud
Justice Department Charges 18 in Sweeping COVID Fraud Action
April 20, 2023

Federal officials have charged 18 people in a wide-ranging series of COVID fraud cases. The defendants are accused of taking part in a variety of schemes to exploit healthcare services during the pandemic, and allegedly led to more than $490 million in COVID-19 related false...

B2B Payments
Lockstep Adds Payment Acceptance to B2B Connected Accounting Network
April 20, 2023

Lockstep has added new payment acceptance to its connected accounting network for B2B companies. The company’s Lockstep Self-Service now enables companies to accept online payments from customers using Stripe, PayPal or the merchant processor of their choice, Lockstep said in a Thursday (April 20) press...

Digital Banking
Chime, Nubank and Revolut Tie for No. 1 in Digital Banking Apps Provider Ranking
April 20, 2023

People can’t seem to decide which digital banking experience they like best, which would explain the tangle of tied scores and new or returning names to PYMNTS’ Provider Ranking of Digital Banking Apps. It would also explain why there are currently 16 apps in a Top...

Investments
Kindred $130 Million Fund ‘Laser-Focused’ on Early-Stage Rounds
April 20, 2023

Venture capital (VC) firm Kindred has debuted a $130 million fund targeting early-stage companies. Announced Thursday (April 20), the fund — Kindred’s third — will invest in businesses offering “picks and shovels,” in other words, “tools and services that power industries — the [application programming...

B2B Payments
Nitra Adds Free Walmart Business+ Trial to Its Cardholder Benefits
April 20, 2023

Nitra is now offering its cardholders a free six-month trial to Walmart Business+. Nitra provides smart expense management solutions and business support for medical practices and healthcare providers, while Walmart Business+ membership includes free shipping, no minimum and 2% back in rewards on orders totaling...

Retail
Can Loyalty Programs Save Struggling Retailers From Bankruptcy?
April 20, 2023

In the pandemic era, loyalty programs proved to be an effective strategy to retain customers even while maintaining physical distance. However, with in-store experiences making a comeback, retailers are looking to capitalize on these loyalty programs by offering exclusive events and perks. But can loyalty...

Retail
Snap and Men’s Wearhouse Bring Augmented Reality to Prom Season
April 20, 2023

For Men’s Wearhouse, this year’s prom theme is “augmented reality.” The clothing retailer has teamed up with Snapchat owner Snap to use the social media platform’s augmented reality (AR) tool to provide shoppers with virtual try-on capabilities, according to a Wednesday (April 18) press release....

Retail
IKEA Investing $2.2 Billion to Expand Omnichannel Capabilities in US
April 20, 2023

IKEA is expanding its omnichannel capabilities with its biggest investment in four decades in the United States. The $2.2 billion investment over the next three years will add new locations, strengthen its fulfillment network and expand its product line, the home furnishing retailer said in...

Retail
Shopping Social Network Flip Challenges Honesty in Reviews
April 20, 2023

On the surface, Flip, a shopping social network, provides consumers with brutally honest reviews — an element of the shopping experience that has been scarce in the retail industry. But that’s what TikTok’s for, right? Generation Z craves anything with an authentic baseline and isn’t...