Today is Friday, July 1 and we’re halfway to kissing 2022 goodbye as the S&P 500 closes its worst first half since 1970 and copper — widely considered a barometer of the world economy — drops below $8,000 a ton, the lowest since 2021.
U.S. Secretary of Treasury Janet Yellen is heading to Seoul, South Korea later this month to discuss developing stronger supply chains for better prices and hitting Russia with additional costs for its ongoing war in Ukraine. In her first trip to Asia, Yellen will also visit Japan and Indonesia.
On this date in 1847, the U.S. Post Office issued its first 5 cent stamp, very fitting on National Postal Workers Day, National Zip Code Day, and the kick-off of Write a Letter Appreciation Week. Here’s what else should be on your radar today.
Third-Party Ecosystems. All but 24 of the 251 financial institutions (FIs) participating in the RTP network are enabled by a third party. In the latest Real-Time Payments Tracker®, PYMNTS examines the ecosystem of third parties that help facilitate the RTP network and offers information for potential participant FIs and businesses to consider when looking to enable true real-time payments. READ MORE
Digital Resolve. In PYMNTS’ second quarter eBook, 32 payments industry experts discuss the uncertainty surrounding the post-pandemic landscape and the possibility of a recession in the second half of 2022. While “inflation” replaced “infection” and the March Consumer Price Index went up the most since 1981, business leaders are sticking to their modernization and digital transformation plans. READ MORE
Unfriendly Friendly Fraud. Tal Yeshanov, head of risk and strategic financial operations at Plastiq, told PYMNTS that the term “friendly fraud” is just a pleasant way of masking a growing problem that’s causing real pain for merchants, issuers and acquirers. Confusion is part of the picture, and disputes follow. Friendly fraud has affected over 90% of enterprises, Yeshanov said. READ MORE
ICYMI. McDonald’s is joining other eateries in overhauling its loyalty program beyond the standard earn-and-burn points offerings. Its “Camp McDonald’s” mobile experience is a 27-day promotion with live performance streams from well-known artists, deals on food, and special-edition merchandise. READ MORE
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More