News

Delivery
New York Court Rules Food Delivery Platforms Must Pay Minimum Wage
September 28, 2023

The New York State Supreme Court has reportedly ruled that Uber Technologies, DoorDash and Grubhub must pay their food delivery couriers a minimum of $17.96 per hour. The court’s decision comes after the three delivery platforms joined forces to challenge the city’s rule, which was set to go into effect...

Payment Methods
ABHI Partners With Visa and YellowPepper on A2A Payments
September 28, 2023

Visa has announced a partnership with ABHI and YellowPepper to introduce account-to-account (A2A) payments in the United Arab Emirates (UAE). This collaboration will drive innovation, promote financial inclusion and accelerate the adoption of new payment solutions in the Central and Eastern Europe, Middle East and Africa (CEMEA) region,...

International
Report: China Evergrande Chair Detained for Unspecified Crimes
September 28, 2023

China’s largest property development company has halted trading after its chairman was reportedly detained. As the Wall Street Journal reported Thursday (Sept. 28), law enforcement in China believes Hui Ka Yan, chair of Evergrande, may have committed crimes and have apparently detained him as they investigate. PYMNTS has...

B2B Payments
Banks Tap Virtual Cards to Help Businesses Streamline Expense Management
September 28, 2023

Businesses have long relied on debit and credit card transactions, but digitization is ushering a new era of more secure electronic payment options, such as virtual cards, in the business-to-business (B2B) payment landscape. Findings detailed in a PYMNTS Intelligence report titled “B2B Digital Payments: Virtual...

Investments
Breezit Raises $2 Million to Bring AI to Wedding Planning
September 28, 2023

Breezit has raised $2 million to help couples use artificial intelligence to plan their nuptials. The pre-seed round, announced Thursday (Sept. 28), was led by Practica Capital and will help Breezit further develop generative artificial intelligence (AI) and machine-learning capabilities for its venue and vendor marketplace. “An estimated 80% of...

Social Commerce
New Indonesian eCommerce Rules Hinder TikTok’s Expansion Goals
September 28, 2023

TikTok’s plan to invest heavily in Indonesian eCommerce is apparently hitting a roadblock. As Bloomberg News reported Thursday (Sept. 28), the company is now subject to new rules in Indonesia that block social media platforms from handling direct payments for online purchases, a distinction that so far applies...

eCommerce
Allegro Expects eCommerce Market Growth Even as Consumers Trade Down
September 28, 2023

Much like their American counterparts, consumers in Poland are trading down. However, that apparently hasn’t stunted the growth of Allegro, that country’s largest eCommerce platform, as Reuters reported Thursday (Sept. 28).  The company said it expects core earnings growth to speed up at home as wages in Poland...

Social Commerce
X CEO Linda Yaccarino Says 1,500 Advertisers Have Returned
September 28, 2023

X CEO Linda Yaccarino has reportedly expressed optimism about the platform’s future profitability. Speaking Wednesday (Sept. 27) at Vox Media’s Code conference, Yaccarino, who has been leading X for 100 days, defended the company’s progress under owner Elon Musk, Reuters reported Wednesday. Yaccarino said X could reach profitability early in 2024,...

Retail
Wealthy Shoppers Swap Quiet Luxury for Festive Flair This Holiday 
September 28, 2023

According to affluent shoppers, quiet luxury — understated refinement, subtlety, and minimalist elegance — is out. So what exactly does that mean for retailers, especially this holiday season?  State of Quiet Luxury  According to Fashionphile, luxury shoppers are abandoning subtlety in handbags from renowned brands. In...