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Senate Finance Committee Chair Ron Wyden, D-Ore., has called on the Biden administration to investigate the cybersecurity incident at UnitedHealth Group.
In a Thursday (May 30) letter addressed to Federal Trade Commission (FTC) Chair Lina M. Khan and Securities and Exchange Commission (SEC) Chair Gary Gensler, Wyden asked that the two agencies investigate the incident.
Wyden wrote in the letter...
Mastercard and HSBC Middle East have joined forces to introduce the Mastercard Wholesale Program (MWP) in the Middle East, with a specific focus on the travel industry.
The aim of this partnership is to digitize and automate buyer and supplier payments for HSBC’s travel merchant customers, thereby enhancing liquidity and security within the travel value chain, the companies said in a Wednesday (...
Rakuten, the cashback shopping platform, has announced the upcoming launch of Rakuten+, a membership program created specifically for designer brands.
This program aims to connect these brands with select, highly engaged Rakuten members, offering them access to the most loyal and active shoppers of designer fashion on the platform, the company said in a Thursday (May 30) press release.
Rakuten+...
Brian Moynihan, CEO of Bank of America, said higher inflation and interest rates have dampened consumer and business spending this year.
From hardware to software, both consumers and small to medium-sized businesses are pulling back on their purchases, Moynihan said at a New York financial conference, according to a Thursday (May 30) CNBC report.
“Both of our customer bases that have a lot to do...
As retailers look for ways to boost sales with their most loyal customers, Nordstrom is finding that supplementing its digital loyalty program with in-person events is driving engagement.
On a call with analysts Thursday (May 30) discussing the company’s first quarter fiscal 2024 financial results, the luxury department store chain noted that its loyalty members have responded well to on-site...
Digital is a one-way street. And that street is being populated by B2B firms who aren’t looking back after embracing digital innovation to both compete in new markets while at the same time transform their existing commercial relationships.
This digital shift is fostering a more agile and responsive business environment, where data-driven decision-making is paramount. It is also driving a...
Several tech companies reported strong earnings in the first quarter of 2024, driven by the growing demand for artificial intelligence (AI) products and services.
As the AI revolution continues to gain momentum, businesses across various sectors are embracing AI technologies to enhance their offerings, streamline operations, and gain a competitive edge in the market. Among the notable performers...
iBind Systems, a FinTech startup based in Bangalore, India, announced a collaboration with Google Cloud to modernize the onboarding experience for banks and financial institutions.
By integrating iBind’s corporate banking Software-as-a-Service (SaaS) product with Google Cloud’s generative artificial intelligence technologies and infrastructure, the collaboration aims to streamline the onboarding...
As artificial intelligence (AI) rapidly advances, policymakers worldwide find themselves grappling with the complex challenge of regulating this transformative technology. The debate over AI regulation has pitted those who warn against stifling innovation against others who advocate for stronger safeguards to address potential risks.
In California, home to many of the world’s leading AI companies...
As shoppers engage with eCommerce channels, high-income consumers prove, perhaps counterintuitively, to be the most likely to ditch their would-be purchases without completing the transaction.
By the Numbers
The PYMNTS Intelligence report “How Preferred Payment Availability Can Reduce Cart Abandonment” drew from a survey of more than 3,500 U.S. consumers to better understand their behaviors when...