Feed Items
Vendor Pay Express, an affiliate of 1st Commercial Credit, has launched a digital platform for B2B transactions that provides faster payments to suppliers and interest-free credit lines to buyers.
With this new digital supplier payment platform, suppliers receive accelerated payments by accepting what the company describes as a small discount from the invoice amount, while buyers...
The Consumer Financial Protection Bureau’s Thursday (Aug. 21) lawsuit against Synapse Financial Technologies highlights the accurate tracking and reconciliation of consumer funds within the evolving FinTech landscape.
The complaint detailed how an alleged breakdown in Synapse’s record-keeping and fund management created financial instability and hardship for thousands of consumers.
The...
Some of the biggest names in tech, including Google, Amazon, and Apple, saw their stocks battered this week amid fears that the artificial intelligence (AI) revolution has turned into a dangerous bubble. Read more in the PYMNTS weekly roundup of AI news.
AI Hype Spooked Investors on Wall Street
Tech stocks took a beating this week as fears that an AI bubble was forming. Amazon, Apple,...
U.S. banks are reportedly lobbying for national standards that would limit the ability of states to make their own rules for the industry.
Advocates of this effort say the changes would prevent states from disrupting banks’ operations and would make it easier for financial institutions to operate, Reuters reported Friday (Aug. 22).
The Bank Policy Institute told Reuters, per the report...
OpenAI reportedly said in a Thursday (Aug. 21) court filing that Tesla, SpaceX and X CEO Elon Musk sought financing arrangements or investments from Meta founder, Chairman and CEO Mark Zuckerberg for his $97.4 billion bid for OpenAI.
Zuckerberg did not join the bid, the filing said, Reuters reported Friday (Aug. 22).
Musk was a co-founder and initial board member of OpenAI, but he left...
With the Consumer Financial Protection Bureau reopening its open banking rule under Section 1033, the central questions over who pays for what data and how much it will cost banks and FinTechs will spark ferocious debate.
The CFPB issued an advance notice of proposed rulemaking (ANPR) to reconsider its 2024 open banking rule. This action launched a 60-day public comment period,...
German carriers Deutsche Post and DHL Parcel Germany will stop some shipments to the United States after Friday (Aug. 22) due to new U.S. customs regulations implemented in response to an executive order suspending the de minimis exemption.
They join other European carriers that have announced limits on their postal shipping to the U.S.
The two DHL Group divisions will no longer accept...
The European Union is reportedly speeding up its efforts to launch a digital euro, in part by considering the use of a public blockchain rather than a private one.
The shift was prompted by the passage of a stablecoin law in the United States, which has left EU officials concerned that dollar-backed stablecoins could become even more dominant than they already are in cross-border...
It seems like a massive disconnect. But for the payments industry, it’s an opportunity.
One the one hand, the current administration’s shifting tariffs on imported goods and commodities ranging from Swiss watches and Brazilian coffee to Canadian aluminum and steel are a blow to companies reliant on those items. Unless they pivot on sourcing or cut expenses elsewhere, somebody has to...
Real-time payments are moving beyond speed. With networks raising transaction ceilings, companies are beginning to treat instant transfers as a tool for high-value use cases once reserved for slower rails. The speed that has transformed consumer-facing transactions, such as disbursements, now is a valuable hallmark in commercial settings as well.
That’s a central theme of the PYMNTS...