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May is only half over and has already proven to be a month full of FinTech activity, ranging from high-profile initial public offerings (IPOs) to acquisitions, underscoring the momentum behind platforms changing financial services and money movement.
After years of on-again, off-again movement toward a public listing in the United States, Chime made it official this week, filing its IPO documents...
Luxury group Richemont will reportedly continue to limit its price increases, even in the face of new U.S. tariffs.
The owner of Cartier and other luxury brands has benefited from being more restrained in its price increases than some of its rivals over the past four years, as some of those competitors have seen a customer backlash over prices, the Financial Times (FT) reported Friday (May 16),...
It can feel as though every week there’s a new stablecoin announcement from a traditional financial player.
The one thing they all have in common? For the most part, they aren’t taking place in the U.S.
But, as U.S. lawmakers circulate an updated draft agreement on the GENIUS Act, an acronym for Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 Act, that could all be...
This week in artificial intelligence, chief product officers said AI needs human oversight, even for routine, automated tasks like fraud detection. Meanwhile, AI was partly responsible for a 40% reduction in staff at Klarna, Perplexity added PayPal in checkout, and more.
Chief Product Officers Say AI Needs a Human Touch
Generative artificial intelligence is being adopted among companies in all...
Criminals are “flooding” Facebook and Instagram with bogus ads and marketplace listings, fueling what The Wall Street Journal calls an “epidemic of scams” that is ensnaring U.S. consumers and global regulators alike.
The Journal reports that Meta Platforms’ social networks have become a primary staging ground for fraud rings operating from China, Sri Lanka, Vietnam and the Philippines. Internal...
While U.S. consumers are rapidly embracing mobile wallets for peer-to-peer payments, their adoption for in-store transactions still lags behind many international counterparts, highlighting a dichotomy in the country’s digital payment evolution.
Data from the PYMNTS Intelligence report, “How The World Does Digital,” indicates mobile and digital wallets are becoming increasingly prevalent across...
Moving into mid-May, the FinTech IPO Index’s 4.4% increase was powered by a string of earnings reports, with digital payments growth seen across Latin America and swelling transaction volumes for buy now, pay later providers and B2B platforms.
As PYMNTS reported, Toast sees promise in its artificial intelligence (AI)-driven efforts improve restaurants’ operating efficiencies. CEO and co-founder...
Meta reportedly is postponing the release of the largest version of its open-source Llama 4 artificial intelligence (AI) model from summer to fall at the earliest.
Called “Behemoth,” the multimodal model is not improving “significantly” enough to be released by June; it was already delayed from April, when Meta held LlamaCon, its first Llama developers conference.
The delay looks to be the first...
FTX’s bankruptcy advisers said Thursday (May 15) that they will distribute $5 billion to the former cryptocurrency exchange’s eligible creditors on May 30.
The distribution will be the second payment made to creditors, and additional record and payment dates will be announced later, FTX said in a Thursday press release.
In this distribution, different classes of creditors will receive between 54...
Dick’s Sporting Goods plans to acquire Foot Locker and position the combined organization to serve sports retail consumers around the world.
The two companies announced the deal in a Thursday (May 15) press release, saying the transaction implies an equity value of $2.4 billion and an enterprise value of $2.5 billion.
The transaction is expected to close in the second half, subject to Foot Locker...