The Consumer Financial Protection Bureau proposed a new rule to prevent banks and other financial institutions from charging non-sufficient funds fees on transactions declined in real time. Under the proposed rule, financial institutions would be prohibited from charging NSF fees on transactions such as declined...
For Apple, the opening of the ecosystem proceeds apace in Europe. With it, however, comes the potential to realize some additional revenue streams. And what happens in Europe, with Apple at the epicenter, may be a harbinger for Big Tech in general, operating on the...
2023 was the year that generative artificial intelligence captured the business world’s attention. Now, in 2024, organizations are determining how to move from sharpening their AI strategies to deploying them. Increasingly, the effective use of AI systems will be what separates the leaders of the...
Rent payment loyalty platform Bilt Rewards is now a $3.1 billion company. Bilt’s new valuation follows a $200 million equity investment led by General Catalyst, as well as the addition of General Catalyst managing director Ken Chenault and NFL Commissioner Roger Goodell to its board, the company said...
Spotify will launch in-app shopping on iPhones in the European Union (EU) on March 7. This new offering is enabled by the rollout of the EU’s Digital Markets Act (DMA), which prohibits the restrictions and 30% fees that Apple currently places on apps offering through its App Store, Spotify said in...
Etsy has launched a hub that uses artificial intelligence (AI) and human curation to help shoppers find gifts for any occasion. The new Gift Mode is interactive and helps shoppers discover gifts that align with the recipient’s specific interests, Etsy CEO Josh Silverman wrote in...
Retailers are reportedly embracing “just-in-time” inventory management once more after years of excess stock. As The Wall Street Journal (WSJ) reported Wednesday (Jan. 24), merchants have sold off the goods that collected in stores and warehouses since 2022, and have shifted their focus to restocking...
Online marketplace company eBay says it will lay off 9% of its workforce, citing a difficult macroeconomic environment. Those job cuts will affect about 1,000 full-time employees of the eCommerce platform, CEO Jamie Iannone said in a message posted on the company’s website Tuesday (Jan. 23). “Our overall head count and...
No matter the attack vector, bad actors have a singular strategy in place when it comes to eCommerce fraud, Jason Paguandas, VP and GM, Merchant Security and Fraud, Carat from Fiserv, told Karen Webster. “They want to accumulate as much data as possible, and even...
