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Chinese tech giant Tencent says its artificial intelligence (AI) investments have begun paying off.
In releasing its quarterly earnings on Wednesday (May 14), the company’s CEO noted that its AI capabilities had “contributed tangibly” to its gaming and advertising businesses. Revenue was up 13% year over year to 180 billion yuan ($25 billion).
“We also stepped up our spending on new AI...
Digital transformation has opened a fire hose of new information flows, particularly around payments and commerce.
Every day, billions of payments flow through networks, banks and FinTech platforms. And while, with this explosion in digital transactions, the threat landscape has evolved dramatically, so too have the data-driven defenses available to payments stakeholders. Thanks to the sheer...
In 2022, as the pandemic waned, PYMNTS Intelligence found that only about 9% of consumers used digital banks for their primary financial relationships and accounts.
Since then, however, the push toward using apps and mobile devices for everyday financial needs has been less wave than tsunami, and for platforms linking with banks to deliver a range of cards, lending and account offerings, the...
Artificial intelligence (AI) search company Perplexity has launched a partnership with PayPal.
The collaboration will see Perplexity use PayPal to power agentic commerce on its Perplexity Pro platform, according to a Wednesday (May 14) news release. Beginning this summer, U.S. consumers can check out instantly using PayPal or Venmo when they ask Perplexity to look for products, book travel or...
Data and artificial intelligence (AI) firm Databricks is acquiring database startup Neon.
“As the $100-billion-plus database market braces for unprecedented disruption driven by AI, Databricks plans to continue innovating and investing in Neon’s database and developer experience for existing and new Neon customers and partners,” the company said in a Wednesday (May 14) news release.
While the...
American tech giants are reportedly upping their Gulf State investments amid President Trump’s visit to the region.
The Trump administration has brokered deals for two Middle Eastern allies — Saudi Arabia and the United Arab Emirates (UAE) — to bolster their artificial intelligence (AI) efforts, Bloomberg news reported Tuesday (May 13).
New agreements with the U.S., expected to be announced in...
Republican and Democratic senators are reportedly working to resurrect stablecoin legislation.
As Bloomberg News reported Tuesday (May 13), this legislation, supported by the cryptocurrency industry, had lost momentum due to backlash against President Donald Trump’s involvement in digital asset ventures.
However, Sen. Bill Hagerty (R-TN) told Bloomberg that lawmakers from both sides of the aisle...
If there’s one unwelcome constant in payments, it’s fraud.
Lately, fraud has multiplied, and social engineering scams and others are outpacing traditional fraud prevention measures.
To battle fraudsters, financial institutions (FIs) need to take a proactive, holistic approach to security and scam protection in particular, Entersekt CEO Schalk Nolte told PYMNTS. That means using behavioral...
The 9-to-5 workday is going the way of the door-to-door salesman. So is the definition of “work.”
For a growing number of Americans, a traditional job is no longer their sole, or even primary, source of income. What were once considered sporadic “gigs” or supplemental ways to earn pocket money have rapidly evolved into a critical component of household financial stability.
According to a...
A $10 million instant payment is no longer a fantasy — it’s the new normal as real-time payments revolutionize global finance.
PYMNTS Intelligence’s latest “Real-Time Payments World Map” revealed a surge in instant payment capabilities across the globe, as announcements focus on bringing faster payments to new use cases for consumers and businesses.
The moves to broaden the reach of the payments...