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Earnings season’s not over yet — and the picture on consumer spending is mixed thus far.
The payment networks and banks have noted that though consumers still are using their cards, there have been some pullbacks by lower-income households. The Federal Reserve’s latest survey on consumer credit detailed that use of revolving debt — which includes credit cards — slowed to an annualized pace of 0.1...
Keeping it simple can often pay off in spades down the line.
That’s the tack that the company formerly known as FLEETCOR Technologies hewed to this March when rebranding to a cleaner, simpler “Corpay.”
But the company name isn’t the only thing that Corpay is streamlining.
During its first quarter 2024 earnings call Wednesday (May 8) — Corpay’s first under the new name and brand — the corporate...
The Financial Conduct Authority (FCA), the United Kingdom’s financial watchdog, has reportedly faced a backlash from the industry regarding its proposal to publicly disclose companies under investigation.
Despite criticism from industry bodies and lawmakers, the FCA told the Treasury Committee Wednesday (May 8) that it remains committed to its initiative, Reuters reported Wednesday.
The FCA...
Instacart is seeing in-store technologies impact grocery shoppers’ spending and loyalty.
The aggregator’s CEO, Fidji Simo, noted in a letter shared with investors Wednesday (May 8) discussing its first-quarter 2024 earnings results that, according to merchants who have deployed the company’s Caper Cart smart self-checkout shopping carts, “people are seeking out stores” that offer the technology,...
Consumers should proceed with caution when selecting their next credit card, according to a recent blog post from the Consumer Financial Protection Bureau (CFPB).
In the post, Julie Margetta Morgan, the CFPB’s associate director of research, monitoring and regulations, reminds readers that the top 10 credit card companies alone manage 83% of outstanding credit card debt and that many of the...
As artificial intelligence (AI) technology progresses, a new generation of AI agents is emerging, potentially impacting how businesses interact with customers.
These digital assistants, designed to exhibit human-like autonomy and social intelligence, could change eCommerce, customer service and other industries by providing personalized, emotionally intelligent aid that blurs the line between...
A record-breaking number of new business applications were filed in the United States last year; 5.5 million, to be exact.
While that’s a great sign for American entrepreneurship, the surge in new businesses may put traditional business lending solutions under a strain that they’re unprepared to manage.
Businesses commonly need external financing both to invest in growth and to manage unexpected...
European used car platform Auto1 is deepening its artificial intelligence (AI) focus amid record profits.
The company on Wednesday (May 8) reported quarterly earnings showing $175 million in gross profits, a 23% increase year over year.
While discussing this milestone on the company’s earnings call, CEO Christian Bertermann also spent some time exploring Auto1’s efforts on the AI front.
“As of Q1...
In a world increasingly flooded with artificial intelligence-generated content, tech behemoths are now locked in a high-stakes battle to develop cutting-edge tools that distinguish between what’s real and what’s not.
From OpenAI’s launch of a new system to identify images created by its own DALL-E 3 text-to-image generator to Amazon’s deployment of AI to spot fraudulent reviews, companies are...
Trimble has acquired Flashtract to add construction payment, compliance and lien waiver capabilities to its connected construction technology ecosystem.
Flashtract’s technology streamlines the flow of payment and compliance information between construction general contractors and subcontractors, Trimble said in a Wednesday (May 8) press release.
Now branded as Trimble Pay, the technology will...