Merchants can maximize their competitiveness by offering split-pay options — and should do so if they don’t want to lose potential sales or want to see their active customers migrating to other competitors that offer this convenience. This is one of the key findings extracted...
Global messaging platform Swift says cross-border payments to Europe can reach their destination in seconds. That’s due to this week’s launch of the European Payment Council’s (EPC) One-Leg-Out Instant Credit Transfer scheme (OCT Inst), which went live this week, the organization announced Thursday (Nov. 30). ...
The promise of embedding payments in cross-border commerce is a multitrillion-dollar opportunity, Amit Agarwal, Global Co-Head of Payments and Receivables, Treasury and Trade Solutions (TTS) at Citi, told Karen Webster. But for financial institutions (FIs) and various providers, capturing that opportunity is a challenge — and...
After a year filled with surprising developments, Farfetch appears to be continuing its trend of unexpected moves. The online luxury retailer revealed this week that it will not be disclosing its financial results for the third quarter of 2023, and the scheduled conference call for...
Specialty discount retailer Five Below said it is driving sales by offering customers both value and fun. The company has been finding “new, disruptive products at extreme value” and promoting them through its growing presence on social media, Five Below President and CEO Joel Anderson said Wednesday (Nov. 29)...
House Financial Services Committee (HFSC) Chairman Patrick McHenry of North Carolina said Wednesday (Nov. 29) the Consumer Financial Protection Bureau (CFPB) is serving as a political actor rather than an independent financial regulator. The agency has become “a hyper-partisan agency doing the bidding of the...
The Department of the Treasury is seeking expanded powers to combat the use of digital assets in illicit finance. The department provided Congress with recommendations Tuesday (Nov. 28) to expand its authorities to go after illicit actors in the digital asset space, Deputy Treasury Secretary...
In today’s digital-first economy, online shopping has become increasingly popular across various sectors. However, when it comes to online grocery shopping, there is a gender divide. The PYMNTS Intelligence study “ConnectedEconomy™ Monthly Report: The Gender Divide Edition” drew from a survey of more than 2,600...
The aggregate net income for the 4,614 Federal Deposit Insurance Corporation (FDIC)-insured institutions during the third quarter was $68.4 billion, representing a 3.4% decrease from the previous quarter. The decline in net income can be attributed to lower noninterest income and higher realized losses on...
