With all the digital transformation that took place across various systems during the first two years of the pandemic, more firms are now filling in gaps or upgrading. They’re making new investments in areas like procurement, accounts payable (AP), accounts receivable (AR), and risk. In...
Instacart says a Queens-based grocer is the first retailer deploying its Scan & Pay tool. Foodcellar Market has begun allowing its shoppers to use the technology, which lets customers scan and pay for items using their smartphones, Instacart said in a Monday (Feb. 3) news...
Xolvis has teamed with Volt to integrate open banking payments into its platform. The Munich-based software developer announced in a Thursday (Feb. 2) blog post that it will enable open banking payments for its customers in Europe thanks to the partnership with Volt, a London-based...
PayPal is laying off 2,000 employees as part of a transformation that includes cost-cutting. The reductions will amount to 7% of the firm’s global workforce and will occur over the coming weeks, PayPal President and CEO Dan Schulman said in a Tuesday (Jan. 31) message...
Nearly every day, it seems, some new scheme arises that’s aiming to replace or disrupt the existing global financial services system. Online payment platforms like PayPal begat cryptocurrencies which begat stablecoins which begat central bank digital currencies (CBDCs), and now, per a recent PYMNTS report,...
One of the worst-kept secrets in payments was finally confirmed last week. That’s when Early Warning Services (EWS) announced its plans to launch a digital bank wallet in the second half of 2023 to challenge PayPal and named a former Mastercard exec as the CEO...
Payment facilitation is among the most vital components of monetizing customer relationships — and the role of PayFacs is often misunderstood. In an interview with Karen Webster, Casey Porter, vice president of Merchant Sales and Acquiring at Visa’s Global Acceptance Fast Track, took note of...
Digital payments have been small businesses’ saving grace in the face of tough economic challenges. It’s a double-edged sword that, according to James Allum, senior vice president of Europe at Payoneer, stems from the “twin revolution of payments and digital” witnessed in the last few years....
Small businesses seeking to reduce innovation costs might consider prioritizing digital wallet offerings. In today’s budget-conscious retail environment, small- to medium-sized businesses (SMBs) might be tempted to pump the brakes on innovations, but that can have a detrimental effect on customer loyalty and retention. One...
