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General-purpose credit cards dominate the consumer credit card landscape. In fact, about 2.5 times more consumers hold general-use credit cards than either co-branded credit or store cards, with substantially wider gaps among lower-income consumers and those in younger age groups.
Moreover, cardholders who have both a co-branded and general-use card tend to reach for the latter more often. In...
Virtual cards are at a tipping point.
That’s the sentiment expressed by several finance leaders in the B2B space, as the current environment of stubborn inflation and strict access to capital affects the payment needs of every company, especially the middle market. When access to working capital is paramount, virtual cards can provide an element of security and certainty.
“Too many middle-market...
Back in October, the Consumer Financial Protection Bureau (CFPB) made public a new rule about data and data sharing. And it wasted no time signaling the intent behind it.
In a press release issued Oct. 19, the CFPB said Rule 1033 “would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies...
Investments in technology, data science and analytics pay dividends in uncertain times, Rewards Network Chief Product Officer James Roedding writes in the new PYMNTS eBook, “The Implications of Uncertainty.”
The executive team at Rewards Network believes that the best thing we can do to prepare for uncertainty and risk is to grow and strengthen our core operations. The more margin and agility...
Simon Property Group has seen a “big comeback” in malls, driven in part by domestic tourism.
The company, which is a real estate investment trust that owns shopping, dining, entertainment and mixed-use destinations, saw its occupancy rise 1.1% year over year (YoY) and reach 95.5% as of March 31, Simon said in a Monday (May 6) earnings release.
It also saw its base minimum rent per square foot...
As businesses seek to strengthen the connected economy, they are harnessing artificial intelligence (AI) to bolster security measures and combat the ever-evolving landscape of sophisticated cyberthreats.
Accenture and Oracle announced a joint investment in generative AI solutions aimed at helping organizations securely extract more value from their data. Meanwhile, Proofpoint unveiled new email...
Rocket Companies has hired Thomson Reuters veteran Shawn Malhotra as its first chief technology officer (CTO).
In this newly created role, Malhotra will oversee the development and implementation of artificial intelligence (AI), data science, product engineering, technology operations, information security and other areas across the firm’s ecosystem, Rocket Companies said in a Monday (May 6) ...
Tesla has reportedly laid off employees across several departments over the last three weeks.
These job cuts follow the automaker’s announcement three weeks ago that it was laying off 10% of its workforce, Electrek reported Monday (May 6).
Workers in software, service and engineering roles have been impacted by the layoffs, according to the report.
Tesla CEO Elon Musk has said that the job cuts...
We’ll know more detail when Fidelity National Information Systems (FIS) holds its investor day on Tuesday (May 7).
But ahead of that event, the company’s first quarter earnings, and management commentary, took note of growth in key banking and capital markets solutions.
During the Monday (May 6) conference call, sans Q+A, CEO Stephanie Ferris said that the company was “experiencing solid new...
Paying bills is rarely fun. And it’s not just that — paying bills is also rarely easy, especially as a business.
That’s why, across today’s bill pay landscape, which remains full of manual legacy solutions, whenever a bill gets paid, there is often a more convenient and streamlined way to do it.
And according to Paymentus Holdings’ Founder and CEO Dushyant Sharma, more and more businesses are...