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The intense rivalry between eCommerce titan Amazon and brick-and-mortar giant Walmart has long pitted the two companies against each other. Now, both retailers have a new challenge: Shoppers themselves.
Recent earnings reports have delivered a warning shot for both industry heavyweights. After years of riding the tailwinds of a pandemic-induced shift to digital shopping, both companies now face a...
Apple reportedly plans to change how it names its operating systems, identifying them by a year rather than a version number.
The new names will be based on the upcoming year, rather than the current year, Bloomberg reported Wednesday (May 28), citing unnamed sources.
This naming system will begin with the companies’ next operating systems, so the updates will include iOS 26, iPad OS 26, macOS 26...
Nvidia CEO Jensen Huang told analysts Wednesday (May 28) that recent U.S. export-control changes are reshaping the company’s growth plans in China even as global demand for artificial intelligence (AI) infrastructure accelerates.
The new rules require U.S. chipmakers to secure licenses before shipping certain advanced devices to China. Huang said the restrictions effectively remove a market he...
Debit turns into credit as buy now pay later business models continue to evolve.
As the new year dawned, PYMNTS Intelligence detailed that debit was the payment of choice for everyday spending for items such as groceries. Bank earnings indicated that card spend, though slowing, was still intact. And during the latest earnings from the likes of Visa, debit volumes outpaced credit volumes....
Mercado Pago, the FinTech unit of Mercado Libre, plans to apply for a banking license in Argentina to expand the service offering of its digital model in the country.
A banking license from the Central Bank of Argentina will allow Mercado Pago to add more investment tools and new lines of credit, the company said in a Wednesday (May 28) press release.
Mercado Pago has pursued this strategy in...
The Department of Labor’s Employee Benefits Security Administration has rescinded a 2022 compliance assistance release that directed fiduciaries to exercise “extreme care” before adding cryptocurrency options to the investment menus for 401(k) retirement plans.
The language in the 2022 guidance was not in line with the requirements of the Employee Retirement Income Security Act or with the...
India’s government has reportedly sent more than 400 notices to eCommerce platforms and retailers, asking them to remove “dark patterns” that deceive customers.
Dark patterns are manipulative practices that include hidden charges, discounts that create a false sense of urgency and items that retailers sneak into shoppers’ baskets, Bloomberg reported Wednesday (May 28).
The government has also...
Meta is reorganizing its generative artificial intelligence team to accelerate rollouts of products and features as the AI race intensifies.
Meta is splitting the team into two groups, according to reports by Axios and The Information. One group will be focused on products and led by Vice President of Product Connor Hayes. The other group will be an AGI Foundations unit co-led by Head of GenAI...
Walmart added digital tools on its website and app that are designed to help select customers identify over-the-counter (OTC), food and wellness products that can be purchased with their Medicare Advantage supplemental benefits.
The tools include a “benefits program eligible” badge on eligible products, the ability to filter search results to include benefits-eligible items, and a benefits...
Payment tech company Global Payments is selling its payroll business for $1.1 billion.
Global Payments will divest payroll operations to Michigan-based FinTech Acrisure, according to a Wednesday (May 28) press release.
“The divestiture of its payroll business is the latest step Global Payments has taken to further simplify its business and position the company as a leading pure-play commerce...