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Home Depot’s finance chief says customers shouldn’t expect tariff-driven price increases.
“Because of our scale, the great partnerships we have with our suppliers and productivity that we continue to drive in our business, we intend to generally maintain our current pricing levels across our portfolio,” Chief Financial Officer Richard McPhail said in an interview with CNBC on Tuesday (May 20).
He...
QR code technology is an increasingly popular sign-in method among Bank of America’s corporate and commercial clients.
The number of business clients using QR sign-in to access the bank’s digital banking platform, CashPro, increased by 60% in 2024, Bank of America said in a Tuesday (May 20) press release emailed to PYMNTS. QR sign-in was introduced in 2022.
“Nearly every business client uses...
The U.S. Senate has voted to advance the GENIUS Act, the country’s first stablecoin legislation.
As Bloomberg News reported, the bipartisan vote on Monday (May 19) came two weeks after the Senate’s Democrats joined forces to block the legislation. The bill is now due to be debated on the Senate floor in hopes of passage later this week.
Democrats had filibustered the GENIUS (Guiding and...
Independent sellers now account for 60% of the sales in Amazon’s store, the company said Tuesday (May 20).
In 2024, these Amazon Selling Partners averaged over $290,000 in annual sales and employed more than 2 million people, Amazon said in a Tuesday press release outlining findings from its latest annual Small Business Empowerment Report.
Compared to the previous year, the annual sales figure...
Instant payments have entered the mainstream — but how, why and for whom financial institutions deploy them is anything but uniform.
Our latest data brief uncovers a nuanced, often-surprising competitive landscape. Some banks are racing to serve businesses with real-time tracking and confirmation tools. Others, particularly digital-only players, are betting on consumer-first strategies, powered...
The promise of generative artificial intelligence is beginning to crack visual search, one of eCommerce’s most stubborn puzzles.
More specifically, generative AI is helping visual search understand, classify and recommend the billions of images consumers browse every day, even when they can’t describe what they’re looking for in words.
That challenge matters most to platforms built on pictures,...
The travel industry can call to mind pink sand beaches, loyalty points and upgrades. But behind the scenes, the sector is defined by the way people pay.
And there have never been more ways to pay.
“As soon as we think we’ve got it covered, more payment options come out,” Damien Cramer, SVP of Global Travel at Nuvei, told PYMNTS. “That’s the reality of the world that we live in right now.”
At the...
Financial institutions and merchants face a persistent challenge: enabling consumers to navigate the inevitability of large, unplanned expenses without undue friction or financial strain.
From emergency car repairs and essential appliance replacements to significant impulse buys like high-end electronics, these purchases, often costing hundreds or thousands of dollars, frequently fall outside...
Contrary to perceptions of financial irresponsibility, a significant portion of subprime borrowers actively and strategically use credit to improve their financial standing, revealing an underserved market segment with a strong desire for traditional financial inclusion. It’s one of the insights drawn from the recent PYMNTS report “High Credit Card Denial Rates Force Subprime Borrowers to Turn to...
Credit unions tend to evoke images of simple, brick-and-mortar institutions, where friendly employees who know you by name make up for the lack of financial bells and whistles at big banks. That almost quaint perception is rapidly becoming outdated.
America’s smallest financial institutions are innovating in financial products and services for their members. Even pint-sized credit unions are...