Sycamore Partners, a buyout equity firm that owns department store operator Belk, is reportedly among the firms interested in taking Nordstrom private. The company is engaged in negotiations that are likely to take weeks, and there is no certainty that a deal will be reached,...
A new study from the Federal Reserve indicates that it’s not income levels or ability to repay that drives banks’ willingness to extend credit. Rather, the use of credit — the engagement — is a significant factor in determining when, and by how much, credit...
Wells Fargo said Thursday (May 2) that U.S. authorities are investigating the handling of complaints about Zelle. This disclosure in a filing with the Securities and Exchange Commission (SEC) follows a similar statement by J.P. Morgan and comes amid scrutiny of Zelle’s peer-to-peer (P2P) payment network by both regulators and legislators,...
As Amazon looks to close the gap with Walmart in grocery, both retail giants are seeing the opportunity to win over shoppers with their private-label brands. Walmart announced Tuesday (April 30) the launch of bettergoods, its largest private-brand food rollout in two decades, promising low-priced, “chef-inspired” items ranging from chicken wings to nut...
A 3% gain in the FinTech IPO Index this past week was led by the platforms. And in many cases, those firms have yet to report earnings — so, perhaps, let’s call this an anticipatory rally. Katapult, the lease-to-own platform, saw its shares leap 49.7%...
It is National Small Business Week in the U.S., and the spotlight is on business-to-business (B2B) innovation. That’s why PYMNTS spent Monday (April 29) unpacking how small businesses with big ambitions are turning to artificial intelligence (AI) to drive growth; Tuesday (April 30) discussing the need for Main Street...
Shoppers in the United Kingdom love eCommerce, disproportionately preferring to make purchases online without engaging with physical stores, PYMNTS Intelligence reveals. By the Numbers The PYMNTS Intelligence study “2024 Global Digital Shopping Index: U.K. Edition,” commissioned by Visa Acceptance Solutions, drew from a survey of 2,200...
Pleo has secured a 40-million-euro (about $43 million) debt financing facility from HSBC Innovation Banking UK. With this facility, the Danish FinTech will expand its credit offering, Pleo Overdraft, which helps European companies navigate gaps in cash flow and keep their businesses moving without missing crucial payments or...
London-based Tuza secured 4 million pounds (about $5 million) in seed funding for its platform that brings price comparison to card payments in the United Kingdom. The company, which was formerly known as Statement, has compared 1.5 billion pounds (about $1.9 billion) in card turnover for small...
