Today is Thursday, May 5 and shareholders are hopping mad about Netflix’s share price and allege that the streaming giant forgot to mention subscriber numbers tanked. Here’s what else should be on your radar this morning.
Fraud Fighting MFA: Multifactor authentication (MFA) can prevent 99.9% of fraud attacks when stolen credentials are involved, yet many customers opt out, and just 37% of companies require it. Customers will change merchants if there is too much friction at checkout. The latest Alternative Payments Tracker®, a PYMNTS and Socure collaboration, takes a deep dive into the ways digital identity systems can help eCommerce merchants lower fraud risk without adding friction. READ MORE
Shareholders Sue Netflix: Shareholders are hauling Netflix to court on allegations that the streaming giant failed to mention that subscriptions were tanking and thus misled investors. The lawsuit seeks damages for Netflix’s drop in share price this year, as the company missed subscriber growth estimates. READ MORE
Consumerizing B2B Payments: Millennials and Generation Z are driving the push to make B2B payment processes have the same speed, convenience, simplicity and transparency as their everyday consumer transactions. In the May edition of the Embedded Finance Tracker®, a PYMNTS and Galileo Financial Technologies collaboration, the data shows that 74% of millennial B2B buyers changed to vendors with more consumer-like payments experiences. READ MORE
BNPL for Steel: The steel industry is moving into the digital age with new options for payments and digital intel on stock, supply chains and more. Bryzos is an online steel marketplace that facilitates trade between buyers and sellers and even offers buy now, pay later (BNPL) payments. CEO Shep Hickey told Karen Webster that the model a is real-time network of supply that also addresses credit and terms and improves on the industry’s dynamics. READ MORE
ICYMI: The days of raking in money from overdraft fees could be over for big banks if U.S. Sen. Elizabeth Warren (D-Massachusetts) has her way. The former presidential candidate sent letters to the CEOs of J.P. Morgan Chase, Wells Fargo, and other big banks asking that they follow in the footsteps of their rivals like Capital One and Citi and abolish those fees. Sen. Cory Booker (D-New Jersey) and Rep. Carolyn Maloney (D-New York) also signed the letter. READ MORE
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