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Grammarly announced $1 billion in financing from General Catalyst’s Customer Value Fund (CVF), saying it will use the financing for product innovation, scaling its sales and marketing, and making strategic acquisitions.
The announcement came about five months after Grammarly acquired artificial intelligence productivity tool maker Coda, integrated the two companies and evolved into an AI...
Airlines JetBlue and United have teamed to merge aspects of each other’s loyalty programs.
The partnership, dubbed “Blue Sky,” is designed to make it easier for travelers to find flights, JetBlue said in a Thursday (May 29) news release.
It also lets them earn and use points from United’s MileagePlus program and JetBlue’s TrueBlue program across both airlines.
“This collaboration with United is a...
Exodus said Thursday (May 29) that Worldpay supplies the card payment capabilities used in its new solution that allows consumers to use a debit or credit card to purchase cryptocurrencies directly within Exodus’ self-custodial crypto wallet.
Exodus announced the launch of this service, XO Pay, Tuesday (May 27), saying the service allows customers to buy and sell cryptocurrencies without using...
Victoria’s Secret’s website remained shut down Thursday (May 29) morning following a security incident.
“We have taken down our website and some in-store services as a precaution,” the apparel retailer said in a message posted to its website.
“Our team is working around the clock to fully restore operations. We appreciate your patience during this process. In the meantime, our Victoria’s Secret...
Bank fraud in India nearly tripled during 2024, according to the country’s central bank.
In its annual report Thursday (May 29), the Reserve Bank of India (RBI) recorded 360 billion rupees ($4.2 billion) in fraud for the year that ended on March 31, up from 122.3 billion for the same period last year.
“Frauds have occurred predominantly in the category of digital payments (card/internet) in terms...
A federal court has largely blocked White House tariffs following a lawsuit by Democrat-led states.
The ruling, handed down by the U.S. Court of International Trade Wednesday (May 28), suspends the bulk of the tariffs, including the fentanyl-related tariffs on Canada, China and Mexico, the higher duties on goods from China and other countries, and the global flat tariff.
In making this ruling,...
In an age where consumer expectations evolve at the speed of a TikTok trend, financial institutions and payment providers face an increasingly complex question: how do they build systems, strategies and experiences for a generation that hasn’t even fully formed its preferences yet?
“At the center of everything we’re doing — financial or otherwise — it’s a person. A human, attached to a household...
No matter what ultimately happens with the Consumer Financial Protection Bureau’s Rule 1033 (also known as the open banking rule), pay by bank is here to stay.
Matt Janiga, director of regulatory affairs at Trustly, has had a front-row seat to the evolution of open banking, data sharing, and the legislation and lawmaking that has been in flux over the past few years.
The bureau’s general counsel...
Executives at financial institutions large and small know that faster payments are becoming a part of their strategic and competitive roadmaps. If they don’t offer instant fund flows, retail and commercial clients will vote with their feet and move their accounts to a competitor.
But for banks, and particularly smaller financial institutions (FIs), the move into real-time capabilities has been a...
A shift is underway in how consumers in the United States manage their finances, and high earners are increasingly exhibiting reactive money habits.
The PYMNTS Intelligence report “The Financial Management Divide: Planners vs. Reactors” surveyed 2,878 U.S. consumers between Jan. 8 and Jan. 20 to examine distinct financial management behaviors. The report identified two primary personal finance...