Fast-fashion giant Shein is reportedly facing scrutiny under the European Union’s Digital Services Act (DSA). Shein will soon be designated as a company that must comply with the DSA, Bloomberg reported Friday (March 8), citing unnamed sources. The eCommerce firm told Bloomberg: “We are in...
The global push for digital transformation is gaining momentum, with global institutions increasingly taking part in shaping the landscape. The recent World Bank’s inaugural Global Digital Summit, which convened leaders from government, the private sector and academia, highlights this trend. The three-day conference, held March...
PayShepherd has raised $7 million in a seed funding round for its vendor relationship management platform designed for heavy industry firms. “This new funding will accelerate the execution of our mission: protecting mission-critical relationships between industrial operators and their vendors and enabling our clients to...
Consumer packaged goods company Harry’s Inc. reportedly confidentially filed for an initial public offering. The firm, which started with men’s grooming products in 2013 and now has five CPG brands, is working with investment banks and preparing to go public in New York, Reuters reported Friday (March 8), citing...
Acquirers — the financial institutions that provide the infrastructure for merchants and businesses to accept card payments — operate behind the scenes but can play a pivotal role in enhancing customer experience. Yet, as PYMNTS Intelligence found in compiling its study, “Acquirers’ Navigation of an...
As augmented reality and virtual reality expand the possibilities for eCommerce, Walmart and Amazon are stepping up their digital try-on capabilities to drive conversion. Walmart shared via emailed announcement Wednesday (March 6) that it is expanding its existing Beauty Virtual Try-On capabilities through its app to include hair color options. The...
Many of the names that are part of the FinTech IPO Index soared double digits on the heels of earnings this past week, leading the overall index 2.7% higher. MoneyLion Shares Roar Ahead MoneyLion’s shares gained roughly 34% as December quarter details saw the number of...
Financial institutions’ net income dropped 43.9% in the fourth quarter of 2023. The net income of commercial banks and savings institutions insured by the Federal Deposit Insurance Corp. (FDIC) totaled $38.4 billion in the fourth quarter of 2023, down $30 billion from the previous quarter, the FDIC...
As retailers compete for consumers’ omnichannel loyalty, Costco is driving digital growth with a somewhat unconventional approach — selling precious metals. The membership warehouse club chain shared in its second quarter fiscal 2024 financial results Thursday (March 7) that digital sales were up 18.4% in the quarter,...
