Feed Items
Chime Financial will pay at least $1.3 million in redress to consumers and $3.25 million in penalties as part of a settlement with the Consumer Financial Protection Bureau (CFPB).
The CFPB found that the nonbank company illegally delayed customer refunds when customers closed their accounts, withholding these balance refunds longer than the 14 days its policy specified until 2021, the CFPB said...
Instacart has teamed with Uber to offer its customers restaurant deliveries via Uber Eats.
The collaboration, announced Tuesday (May 7) and due to roll out in the weeks ahead, lets Instacart customers order from a wide range of restaurants using a new “Restaurants” tab on the company’s app.
“Through this partnership, Instacart customers now have access to both the best online grocery selection...
Once card holders are made aware of how they can earn rewards by using their credit and debit cards to pay for goods and services, most are hooked.
That’s according to the PYMNTS Intelligence report “Card-Linked Offer Growth Hinges on First-Time Users,” which was based on surveys with more than 2,100 consumers. It also found that after using card-linked offers, 93% of card holders plan to come...
As shoppers integrate digital technologies into their retail journeys before and after entering the store, their brick-and-mortar expectations are evolving.
PYMNTS’ Q1 eBook, “The Implications of Uncertainty,” draws on insights from 18 payments industry executives. Jeff Pomeroy, SVP and head of omnicommerce at Carat from Fiserv, spoke to how retailers are using data about shoppers’ behavior...
Nigeria is reportedly stepping up its cryptocurrency crackdown with a proposed ban on peer-to-peer trading.
The ban would affect P2P trading in the country’s naira, Bloomberg reported Tuesday (May 7).
The move is the latest effort by the West African country to place tighter controls on the crypto sector, which it blames for the decline of its national currency.
The proposed ban came as Emomotimi...
FIS has launched an embedded finance platform designed for use by financial institutions, businesses and software developers.
The new “Atelio by FIS” platform can help any company collect deposits, move money, issue cards, send invoices, fight fraud, forecast cash flows and better understand customer behavior, the company said in a Tuesday (May 7) press release.
“Our scale, distribution and...
Embedded lending may gain new consideration at the point of sale as cash-strapped consumers grapple with the pain of emergency expenses.
And it may help them pay for at least some “everyday” essentials, too.
The PYMNTS Intelligence and Visa report “The Embedded Lending Opportunity” found that across geographies, about half of consumers are satisfied with the embedded lending options that come...
Banks in Argentina are reportedly accusing eCommerce giant MercadoLibre’s payments platform of anti-competitive practices.
MODO, a digital wallet backed by dozens of Argentine lenders, claims that the company forces shoppers to fulfill online purchases using its payment platform, Mercado Pago, Bloomberg News reported Monday (May 6), citing a complaint filed to Argentina’s National Commission for...
Visa has launched a generative artificial intelligence (AI) solution designed to help issuers combat enumeration attacks.
The new VAAI Score tool is being added to the Visa Account Attack Intelligence (VAAI) offering, beginning with U.S. issuers, the company said in a Tuesday (May 7) press release emailed to PYMNTS.
“With the VAAI Score, our clients now have access to real-time risk scoring that...
Sixty-three years ago this month, the world’s first supercomputer was born. In May of 1961, IBM introduced its Model 7030, also known as “Stretch.” The gamechanger was its computational processing power and speed. Computers were used mostly for scientific applications at the time, and crunching massive data sets was time consuming and tedious.
“Stretch” reduced the processing time of complex...