Insurance group Allianz is reportedly selling its stake in neobank N26 at a steep discount. According to a report late Tuesday (April 18) by the Financial Times, sources say Allianz’s venture capital operation Allianz X has told advisors to sell the company’s roughly 5% stake...
In a curious reversal, the ongoing legalization of cannabis is akin to the repeal of alcohol prohibition of the 1920s, except in that case, the federal government lifted the ban before many states did. With cannabis, it’s the states that are rolling ahead with medical...
After years of advocacy, open banking is now live in Nigeria, the first country in sub-Saharan Africa to adopt the regulation. The launch marks an important milestone for the country’s payment and FinTech landscape, Samira Nwaturuocha, COO and chief risk and security officer at Lagos-based...
One way to keep customers within an eCommerce ecosystem is to charge them if they stray. That’s one way to do it. But it begs the question as to whether there may be some backlash for Amazon. Last week came news that Amazon customers will be charged fees...
As Brits try to cut back on spending and expenses amid the ongoing cost-of-living crisis and double-digit food inflation, U.K. grocers are under pressure to step up their discounting efforts to retain customers. As PYMNTS reported earlier this year, the country’s grocery inflation surpassed 17%...
Mercari has added a ChatGPT-powered shopping assistant to its marketplace platform for secondhand items. With the new Merchat AI, which is now available in beta across the United States, customers can engage in real-time conversations with the shopping assistant and receive product recommendations based on...
America’s biggest banks are downplaying a massive spike in write-offs of bad consumer loans. As Bloomberg News reported Tuesday (April 18), the four largest banks in the country wrote off $3.4 billion in bad loans during the first quarter of this year, a 73% jump...
Transflo and Comdata have partnered to create an app-based fuel payment solution for the freight industry. The new Transflo Wallet is powered by Transflo’s mobile app technology for the transportation sector and Comdata’s virtual card capabilities. It enables freight brokers to send digital fuel advances...
Payments firm Fiserv says it can eliminate the wait associated with new physical debit cards. The company announced Tuesday (April 18) that its capabilities let cardholders access new or replacement cards electronically. “Cardholders now can access a new or replacement debit card electronically, allowing them to make in-store and...
